BTC Proxy Announces Strategic Partnership With Blockchain․com to Expand Bitcoin DeFi Ecosystem

PRESS RELEASE. BTC Proxy, the Bitcoin Liquidity Protocol connected Polygon, has entered into a strategical concern with Blockchain.com, 1 of the world’s largest crypto platforms and an aboriginal pioneer of cardinal Bitcoin infrastructure. As portion of the partnership, Blockchain.com volition adhd BTC Liquidity into the Proxy ecosystem by Minting BTCpx. Moving Bitcoin to the Polygon web volition grow the DeFi ecosystem and supply reward opportunities for users.

BTC Proxy believes it has solved a existent symptom constituent with Bitcoin by creating a mechanics of interoperability to entree stored worth from semipermanent holders without sacrificing information done the usage of qualified custodians. This tokenized measurement tin past beryllium utilized to supply liquidity and thrust worth to each the networks involved.

BTCpx is the tokenized receipt of Bitcoin (BTC) that has been deposited into a qualified custodian. In this arrangement, the BTCpx is utilized to navigate done cautiously crafted and sustainable reward programs whilst keeping the Bitcoin nether aggregate layers of information and allowing for adjacent greater accountability and information than ever before.

“This narration with Blockchain.com involves the information of 1 of the archetypal and astir trusted names successful crypto. It is simply a important milestone for the task and signals assurance wrong the organization abstraction to spot BTC Proxy arsenic an enactment for important Bitcoin holders.”

 — Donn Kim, CEO BTC Proxy

Minting BTCpx is simply a decentralized process that happens erstwhile BTC is deposited into a specified deposit code astatine a Custodian. The protocol mints the BTCpx token upon detection and confirmation of the deposit.

The value of Blockchain.com’s information extends beyond the magnitude of BTC being deposited; it besides ushers successful the information of the Polygon Foundation, incentivizing the further question of BTC with $Matic Tokens portion simultaneously expanding the Total Value Locked (TVL) connected the network. The Polygon Foundation volition besides connection $Matic Tokens each clip a idiosyncratic Mints BTCpx onto Polygon. This provides caller users coming to the network, and state to execute the consequent transactions. These incentives and overmuch much volition beryllium summed up successful an upcoming selling run dubbed #BTConPolygon. Stay tuned for much details.

“More Bitcoin proviso being kept successful acold retention signifies a holding culture. Therefore, holding is simply a favoured strategy successful the Bitcoin market, with semipermanent holders and crypto whales starring the race.”  — Blockchain.news Sept 24 2021

Depositing Bitcoin into 1 of BTC Proxy’s insured custodial partners ensures the safest holding environments.

“Bitcoin is dissimilar an altcoin wherever custody is not taken into information and wherever information is heavy favored implicit risk.” — Donn Kim

Three Mechanisms Increase TVL of the Network

Within the DeFi ecosystem, BTCpx tin beryllium staked into a programme called iBTCpx (Interest Bearing BTCpx) which yields $PRXY governance tokens for each block. $PRXY derives its worth from the Total Value Locked (TVL) gained from Minting, Staking and past Restaking ( MCAP/TVL ratios of astir DeFi protocols tin beryllium researched astatine DefiLlama).

Restaking allows participants to accelerate their gains erstwhile they Claim and Stake the $PRXY rewards into the main Compounding Staking Pool. Detailed Calculations tin beryllium recovered below. Annual Percentage Yield (APY) values whitethorn fluctuate.

Provide BTC Liquidity to assertion PRXY and MATIC rewards:

1. Deposit BTC into custody to mint BTCpx (Polygon) https://btcpx.btcproxy.io
2. Deposit BTCpx into the iBTCpx programme to gain PRXY tokens https://app.btcproxy.io/#/programs
3. Claim and Stake PRXY rewards into the compounding staking programme to gain 170% APY https://app.btcproxy.io/#/stake

View the Full Presentation for the Bitcoin Yield Strategy https://ggle.io/4XZw

About Blockchain.com

Blockchain.com is connecting the satellite to the aboriginal of finance. The planetary company, with an planetary squad dispersed crossed the world, is the astir trusted and fastest increasing crypto company, helping millions crossed the globe safely entree cryptocurrency. Venture backed since 2014, Blockchain.com has raised $537M of equity superior astir precocious astatine a $5.2B valuation. Visit Blockchain.com for much info, travel america connected Twitter @blockchain, cheque retired The Blockchain.com Podcast, and work our blog for the latest institution news.

About BTC Proxy

Launched connected July 30, 2021, BTC Proxy provides a much scalable layer-2 protocol to decentralize the tokenization of Bitcoin utilizing a permissionless interface. At its halfway BTCpx is simply a Bitcoin span utilizing insured multisig third-party custodians to facilitate the information of Bitcoin (BTC) successful DeFi. With BTC Proxy, individuals and institutions tin safely gain sustainable yields and rewards to outperform astir products disposable for the Bitcoin Marketplace. Visit BTCproxy.io for much info, travel america connected Twitter @BTC_proxy, cheque retired our articles connected Medium for the latest news.

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This is simply a property release. Readers should bash their ain owed diligence earlier taking immoderate actions related to the promoted institution oregon immoderate of its affiliates oregon services. Bitcoin.com is not responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful the property release.

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