Bitway Secures YZi Labs Investment To Launch First Bitcoin-Native Layer 1 Lending Platform
Bitcoin-native lending protocol Bitway introduced that it has secured funding from YZi Labs, previously generally known as Binance Labs, by the EASY Residency program to help the launch of its platform, which represents the primary blockchain Layer 1 answer particularly designed for Bitcoin-based enterprise purposes.
Bitway is creating the primary Bitcoin-native lending protocol, enabling customers to borrow in opposition to BTC straight on Layer 1 with out counting on bridges, wrapped property, or custodial companies. By securing BTC by a two-of-two multisig association and managing loans on a Cosmos-based chain, Bitway leverages one of many largest untapped asset bases within the cryptocurrency market. Based by a group with expertise from Binance Labs, Bitway seeks to offer safe lending options to Bitcoin’s trillion-dollar market.
The mission’s acknowledged mission is to unlock the unused potential of Bitcoin for world enterprise and commerce. It’s the first Bitcoin-compatible Layer 1 blockchain, supporting Bitcoin pockets and handle compatibility, gas-free Bitcoin funds, and native BTC lending with self-custody options.
Bitway Lending goals to make BTC-backed loans essentially the most sought-after decentralized finance (DeFi) use case for Bitcoin. Current options are sometimes overly permissioned, custodial, or fail to accommodate native BTC holders. Bitway introduces a non-custodial, native BTC lending protocol with an emphasis on consumer expertise.
Its ɃTCT token embodies Bitcoin’s peer-to-peer digital money imaginative and prescient throughout a number of cost networks, with Bitway positioned as a number one platform. ɃTCT is the primary gas-free Bitcoin cost token that’s absolutely suitable with present Bitcoin wallets and addresses. Its options embody instantaneous, gasless Bitcoin funds, epoch-based peg-out limits with each world and per-address caps on BTC withdrawals, one-click BTC transfers between Bitcoin Layer 1 and any IBC-connected chain, and signer set rotation with out altering the vault handle.
YZI Labs: Supporting Revolutionary Tasks And Increasing EASY Residency With Season 2 International Launch
YZi Labs manages property totaling over ten billion {dollars} globally. The group follows an funding technique targeted totally on affect, with the idea that significant returns will naturally consequence. Investments are made throughout all levels, with explicit consideration given to tasks that exhibit sturdy fundamentals in Web3, AI, and biotechnology. The YZi Labs portfolio contains greater than 300 tasks from over twenty-five international locations spanning six continents, and over sixty-five of those portfolio firms have participated in YZi Labs’ incubation applications.
EASY Residency is YZi Labs’ premier world incubation initiative, aimed toward supporting founders dedicated to long-term improvement in Web3, AI, and biotechnology. This system fosters a collaborative setting wherein individuals can join with friends, mentors, and traders who share related objectives. Every session selects a restricted variety of startups from world wide to work intently collectively, culminating in a outstanding Demo Day that options main traders and trade professionals.
Aside from Bitway, YZi Labs has supported a spread of tasks in Season 1, together with AMMO, APRO, Byte AI, ComplyGen, Freebeat.AI, Hubble AI, Robata, Modus, OptimAI, Paimon Finance, Lumi, RecycleFarm, StableStock, and Video Tutor.
The primary season served as a proof of idea, bringing collectively founders dedicated to long-term improvement and observing the outcomes after they collaborate, stay, and construct impactful merchandise alongside each other. The second season is increasing globally, with initiatives extending into Dubai, Singapore, San Francisco, and New York, making a community that spans a number of continents.
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