ZetaChain Expands DeFi Reach with Sushi Partnership
ZetaChain's Strategic Expansion in DeFi
ZetaChain, a blockchain startup, has made significant strides in the decentralized finance (DeFi) space by partnering with Sushi, a decentralized exchange. This collaboration enables native Bitcoin (BTC) support, allowing unwrapped BTC swaps across 30 different networks. This advancement aligns with the rising interest in Bitcoin, driven by the anticipation of an approved Bitcoin exchange-traded fund (ETF).
Leveraging DeFi Primitives for User Empowerment
The partnership between ZetaChain and Sushi utilizes DeFi primitives, the essential building blocks of DeFi applications, to empower users effectively. ZetaChain aims to integrate Bitcoin into DeFi more fully and tackle network interoperability challenges that have historically hindered the cryptocurrency ecosystem.
Smart Contracts and Bitcoin Integration
ZetaChain's platform is unique in its ability to deploy smart contracts that interact with native Bitcoin. While Ethereum has been a frontrunner in supporting smart contracts with a large developer community, Bitcoin's limited scripting capabilities have restricted similar developments. ZetaChain's Layer 1 blockchain facilitates decentralized app (dApp) creation that can seamlessly interact with other blockchains, addressing these limitations.
Building on Foundational Blockchain Projects
The founder of ZetaChain acknowledges the influence of earlier blockchain initiatives like Basic Attention Token, Colored Coins, and Mastercoin. These projects laid the groundwork for the technological advancements ZetaChain now builds upon.
Integration with OKX's Wallet
Beyond its partnership with Sushi, ZetaChain has also integrated with OKX's self-custodial wallet. This recent development allows Bitcoin users to access dApps directly without leaving the Bitcoin network, enhancing accessibility and usability in DeFi.
Financial Backing and Future Outlook
Supported by a $27 million Series A funding round from investors such as Jane Street Capital, Blockchain.com, and Sky9 Capital, ZetaChain is poised to continue bridging various blockchains and delivering innovative solutions to the DeFi ecosystem.
What is Coinefficiency?
Coinefficiency is your go-to platform for optimizing cryptocurrency trading, investments and strategies. We provide a comprehensive suite of tools to analyze market trends, monitor price movements, and execute effective trading strategies. Whether you're a seasoned trader or new to crypto, Coinefficiency helps you maximize your profits with data-driven insights.
Why Use Coinefficiency?
- Advanced market analytics to identify trading opportunities.
- Compare markets relative performance.
- Understand market cycles over time. See market levels.
- Compare buy-and-hold, portfolio rebalancing, Dollar-Cost-Averaging trading strategies.
With Coinefficiency, you can stay ahead of the market and execute efficient trading strategies effortlessly.
Get Started with Coinefficiency
Ready to optimize your crypto investments? Take control of your portfolio with cutting-edge tools designed for both beginners and experts.