Okcoin launches $165M collective investment to push Bitcoin adoption

Cryptocurrency speech Okcoin, on with the Stacks Accelerator and Stacks Foundation, announced connected Thursday the commencement of the “Bitcoin Odyssey,” a one-year committedness among concern firms to put $165 cardinal successful inventive solutions to assistance thrust Bitcoin (BTC) adoption.

The Bitcoin Odyssey is funded by Digital Currency Group, GBV Capital, White Star Capital and GSR, among different organizations, to respond to the emergence successful involvement successful decentralized concern (DeFi) and caller technological capabilities made imaginable with Stacks.

Alex Chizhik, caput of listings astatine Okcoin, and Kyle Ellicott, spouse astatine Stacks Accelerator, volition co-lead the initiative. The wealth and assets volition beryllium utilized to concern initiatives that are being built connected Stacks, an open-source web for Bitcoin-based astute contracts, and the Bitcoin blockchain itself.

Stacks 2.0 is simply a layer-1 blockchain with a built-in span to Bitcoin. The Clarity astute declaration language, which is based connected Algorand’s open-source protocol, serves arsenic the instauration for Stacks 2.0. As a second-layer network, Stacks complements the Bitcoin blockchain and allows for the utilization of BTC successful decentralized lending, nonfungible token (NFT) buying and different astute declaration applications.

Related: Stacks ecosystem becomes #1 Web3 task connected Bitcoin

Since its mainnet motorboat successful January 2021, the layer-1 network’s STX token reached a highest marketplace capitalization of $3.7 billion. The Bitcoin Odyssey volition prime projects focused connected Bitcoin and Stacks, arsenic good arsenic solutions crossed Web3, specified arsenic the Metaverse, blockchain-based play-to-earn gaming, DeFi, NFTs and decentralized autonomous organizations, on with CityCoins, authorities exertion and different fields. In summation to funding, manufacture leaders volition supply hands-on assistance to the selected Odyssey projects.