blockchainreporter.net
bitSmiley, a pioneering decentralized finance (DeFi) project, integrated Portal swaps to its ecosystem. This strategic move may make it easier to use bitSmiley’s dollar-pegged stablecoin, $bitUSD, and its soon-to-be-released governance token on blockchain networks other than Bitcoin.
🚀 We're thrilled to announce our partnership with @portal_finance, the first-and-only noncustodial cross-chain liquidity solution!
— bitSmiley (@bitsmiley_labs) March 8, 2024
Through this collaboration, we're integrating $bitUSD into the Portal DEX Network, enhancing cross-chain asset trading and collateral options.
🌟… pic.twitter.com/Lk25SJZYmL
BitSmiley Enhances DeFi Accessibility with Portal Swaps Integration
Portal swaps are a major advancement in decentralized exchanges (DEXs). These swaps eliminate bridges, custodial services, and wrapping because they work across multiple Layer 2 chains without much trust. BitSmiley hopes to improve its cross-chain features with Portal swaps so users can easily send and receive $bitUSD and its governance token across blockchain ecosystems.
J, bitSmiley’s co-founder, stressed the importance of this integration and how it improves cross-chain features. By adding $bitUSD to the Portal DEX Network without issue, users have more trading options and collateral, improving the DeFi experience.
BitSmiley offers full financial services with its native lending, derivatives, and decentralized stablecoin protocols. BitSmiley uses the Portal Swap SDK to improve Bitcoin users’ DeFi experience beyond
ecosystem technical constraints. This project supports Portal’s goal of making DeFi on Bitcoin (BTCFi) more accessible and connecting it to advanced financial applications on Ethereum and other EVM-based blockchains.
BitSmiley Expands Asset Options with Portal Network Integration
Portal co-founder and CEO Chandra Duggirala agreed and stressed the goal of creating an unstoppable Bitcoin ecosystem and enabling cross-chain digital asset trading without custody risk. Portal Swap SDK lets users lock assets from different blockchain networks while maintaining control. The creative approach makes $bitUSD more stable and gives users access to assets on multiple chains.
bitSmiley’s integration lets you buy $bitUSD directly with non-Bitcoin assets like USDT or Arbitrum. Portal Network’s liquidity providers have made $bitUSD and bitSmiley’s governance token more accessible. Portal ecosystem entities can now give users one-click access to these tokens in their apps. Users have a unified experience without switching platforms thanks to this seamless integration.
bitSmiley’s ecosystem is improved by Portal swaps, making it easier for DeFi chains to collaborate. bitSmiley aims to make chain trading easier and expand users’ asset options in the Bitcoin ecosystem and beyond. bitSmiley and Portal value innovation and decentralization. They will transform DeFi’s Bitcoin operations, making finance more accessible.