Interlay launches trustless BTC stablecoin bridge on Polkadot
InterBTC operates as a BTC-backed stablecoin, secured by a decentralized network of overcollateralized vaults, which according to Interlay, resembles MakerDAO’s DAI token. Interlay, a London-based blockchain firm, launched a Bitcoin (BTC)-based cross-chain bridge on Polkadot (DOT). Named interBTC (iBTC), the bridge allows the use of Bitcoin on non-native blockchains for decentralized finance (DeFi), cross-chain transfers and nonfungible tokens (NFTs), among others.interBTC operates as a BTC-backed stablecoin, secured by a decentralized network of overcollateralized vaults, which according....
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Interlay was the recipient of an up-to-$100,000 Web3 Foundation grant in March 2020 to develop the parachain technology implemented. Interlay, a newly appointed Polkadot (DOT) parachain network, is nearing the completion of a two-year Bitcoin (BTC) bridge development project on Polkadot, with the launch announcement on its sandbox platform Kusama.Additionally, Interlay has integrated a Wrapped Bitcoin (wBTC) digital asset, known as kBTC, on their Canary parachain Kintsugi. The asset is already available for trading on other Polkadot parachains Karura, governed by Acala, and Moonriver,....
Interlay is developing infrastructure for decentralized financial apps on multiple blockchains, including Ethereum, Cosmos and Polkadot. DFG Capital has led a $6.5 million investment in the interoperability start-up Interlay, which is building infrastructure for decentralized finance applications across major blockchains such as Ethereum, Cosmos and Polkadot. As per the announcement, the new funds will be used by Interlay to scale its operations and bring more developers on board with its open-source platform. In a statement, James Wo, DFG founder and CEO, said Interlay's solution will....
Interlay’s mission is to bring its interBTC product to all major blockchains, including Polkadot, Ethereum and Cosmos, according to founder and CEO Alexei Zamyatin. Interlay, a Bitcoin (BTC) interoperability project that first launched on Polkadot, has concluded a $3 million seed round to further develop its flagship decentralized finance product, marking another important capital raise in the blockchain industry. The funding will go towards supporting Interlay’s interBTC platform, which allows users to invest, earn and pay with Bitcoin on any blockchain. Originally commissioned for....
The hybrid blockchain maker said it is collaborating with fintech firm Celo to on-board its stablecoin, cUSD, to Kadena’s platform using a trustless bridge.
The two projects seek to become the forerunners of Cosmos and Polkadot interoperability. Plasm Network and Secret Network, two projects based on Polkadot and Cosmos, respectively, have launched the first iteration of a bridge to connect the two ecosystems, each representing a different “layer-0” protocol.The bridge, deployed on Tuesday on Plasm’s testnet, allows users to transfer assets between Plasm Network and Secret, allowing them to enjoy transaction privacy and use SecretSwap, the first automated market maker exchange on Secret Network. The bridge would allow Plasm users to benefit....