blockchainreporter.net
The exSat Network, known for scalability and interoperability, has deployed a new exSat bridge for Bitcoin staking to open yield possibilities for $BTC holders. The launch comes after the mainnet release and presents a new opportunity for earning rewards by staking bitcoins. This feature is a significant development in the ecosystem as Bitcoin’s role in the market is expanding from being a store of value to offering yields based on DeFi principles.
Secure Bitcoin Staking with exSat’s Wrapped XBTC
On the exSat Network, Bitcoin (BTC) staking is easy and reliable. Users bridge their $BTC through the exSat platform, where it converts to XBTC, a wrapped token pegged 1:1 with Bitcoin. Such an algorithm enables users to have authority over their initial BTC.
At the same time, it enjoys huge returns on staking, which makes it a low-risk investment strategy for Bitcoin staking. The rewards come in the form of $XSAT, the exSat Network’s native token, which will be tradable on major exchanges, creating a full ecosystem around staking.
The exSat bridge is built with security as a core feature, developed in collaboration with leading custodians such as ChainUp, Cobo, Ceffu, and Cactus. Additionally, through the auditing process conducted by Blocksec, the bridge’s credibility and integrity have been guaranteed for secure staking. These collaborations are expected to increase the bridge’s stability and ensure that people holding Bitcoin can trust this platform when staking.
Seamless Staking Process on exSat Network
The exSat Network’s staking method is straightforward and user-friendly. BTC owners must simply link their wallets, convert BTC to XBTC, choose a validator for staking, and start receiving XSAT. In contrast to most staking systems, exSat has instant payouts, meaning users can make profits without waiting for the next airdrop.
The exSat Network has garnered over $488M in Total Value Locked (TVL) and over 41 validators since its establishment. Furthermore, more than 50% of Bitcoin’s hashing power is now resolving data on the network, which points to exSat’s expansion. Spiderpool, Matrixport, and Bit Trade are also some of the industry partners that have signed into the network.