Bitlayer's YBTC Enters Solana as the DeFi Project Partners With Kamino Finance, Orca

Bitlayer, a bitcoin (BTC) DeFi infrastructure project, has partnered with Kamino Finance and Orca to bring its bitcoin-backed token, YBTC, to the Solana ecosystem.

This integration is intended to harvester Bitlayer's information with Solana's velocity and scalability, aligning with Bitlayer's extremity of expanding the Bitcoin DeFi sector. It volition supply bitcoin holders with autochthonal BTC vulnerability and output opportunities, said Charlie Hu, co-founder of Bitlayer.

"By combining Bitlayer's information roots with Solana's show frontier done YBTC, we're delivering what BTC holders demand: autochthonal Bitcoin vulnerability with output opportunities. Kamino and Orca supply the indispensable liquidity rails to marque this imaginativeness operational astatine scale," Hu said successful a property merchandise shared with CoinDesk.

YBTC, pegged 1:1 with BTC, is cardinal to Bitlayer's BitVM bridge, which is designed for trust-minimized bitcoin transfers by eliminating centralized intermediaries. The token serves arsenic a nonstop practice of users' locked BTC wrong the Bitlayer ecosystem, enabling seamless interoperability betwixt Bitcoin and decentralized concern applications.

By holding YBTC, Solana users tin maximize yields done Kamino’s institutional-grade gain vaults, which supply auto-compounding and optimized BTC-denominated returns, helping assets turn effortlessly.

They besides bask seamless trading with Orca’s Concentrated Liquidity Market Maker (CLMM), which offers zero-slippage swaps betwixt YBTC.B and different mainstream assets, providing creaseless entree to Solana’s DeFi ecosystem.

Last but not least, users support implicit plus freedom, with the quality to redeem autochthonal BTC astatine immoderate clip via efficient, frictionless cross-chain operations.

Bitlayer's BitVM Bridge has already established partnerships with different networks, including Sui, Base, and Cardano, to beforehand its ecosystem collaboration. To beforehand aboriginal adoption, a limited-time inducement programme for the mainnet beta is present underway, rewarding participants with Bitlayer's autochthonal token, BTR, for minting YBTC and utilizing its cross-chain features.

Kamino Finance is simply a Solana-based DeFi protocol, offering automated and optimized concentrated liquidity absorption for DEX marketplace makers. Orca is simply a decentralized speech built connected Solana network.