BTC Proxy Announces Partnership With Blockchain.com To Expand The Bitcoin DeFi Ecosystem

BTC proxythe Bitcoin Liquidity Protocol on Polygon, has entered into a strategic partnership with: Blockchain.com, one of the world’s largest crypto platforms and an early pioneer of the main Bitcoin infrastructure. As part of the partnership, Blockchain.com will add BTC Liquidity to the Proxy ecosystem by mining BTCpx. Moving Bitcoin to the Polygon network will expand the DeFi ecosystem and provide rewards opportunities for users.

BTC Proxy believes that it has solved a real pain point with Bitcoin by creating a mechanism of interoperability to access stored value of long-term holders without sacrificing security through the use of qualified custodians. This tokenized volume can then be used to provide liquidity and generate value for all networks involved.

BTCpx is the tokenized receipt of Bitcoin (BTC) deposited with a qualified custodian. In this setup, the BTCpx is used to navigate carefully designed and sustainable rewards programs, while keeping Bitcoin under multiple layers of security, enabling even greater accountability and security than ever before.

“This relationship with Blockchain.com includes the participation of one of the original and most trusted names in crypto. It is an important milestone for the project and signals confidence within the institutional space to see BTC Proxy as an option for key Bitcoin holders.”

— Donn Kim, CEO BTC Proxy

Mining BTCpx is a decentralized process that takes place when BTC is deposited to a specified deposit address with a custodian. The protocol stores the BTCpx token detection and confirmation of the down payment.

The importance of Blockchain.com’s participation goes beyond the amount of BTC deposited; it also reads the participation of the Polygon Foundation, boosting the additional movement of BTC with $Matic Tokens while increasing the Total Value Locked (TVL) on the network. The Polygon Foundation also offers $Matic Tokens every time a user places BTCpx on Polygon. This gives new users that come to the network and throttle to make the following transactions. These incentives and much more will be summarized in an upcoming marketing campaign called #BTConPolygon. Stay tuned for more details.

“More Bitcoin stock held in cold storage means holding culture, which is why holding on is a favored strategy in the Bitcoin market, with long-term holders and crypto whales leading the race.” — Blockchain.news September 24, 2021

Depositing Bitcoin in one of BTC Proxy’s insured depository partners ensures the most secure depository environments.

“Bitcoin is different from an altcoin where custody is not taken into account and where security is heavily favored over risk.” †Donn Kim

Three mechanisms increase TVL of the network

Within the DeFi ecosystem, BTCpx can be deployed in a program called iBTCpx (interest-bearing BTCpx) yielding $PRXY governance tokens for each block. $PRXY derives its value from the Total Value Locked (TVL) obtained from Coins, stake and then take again MCAP/TVL ratios of most DeFi protocols can be examined for: defiLlama

Retaking allows participants to accelerate their winnings when they Clay and strike the $PRXY rewards in the main composite stake pool. Detailed calculations can be found below. Annual Percentage Yield (APY) values ​​can fluctuate.

Provide BTC liquidity to claim PRXY and MATIC rewards:

Deposit BTC in custody for beating BTCpx (Polygon) https://btcpx.btcproxy.io
Deposit BTCpx in the iBTCpx program to earn PRXY Coins https://app.btcproxy.io/#/programs
Claim and wager PRXY rewards in the curated strike program to earn 170% APY https://app.btcproxy.io/#/stake

Watch the full presentation for the Bitcoin Profit Strategy https://ggle.io/4XZw

About Blockchain.com

Blockchain.com connects the world to the future of finance. The global company, with an international team spread across the globe, is the most trusted and fastest growing crypto company, helping millions of people around the world to securely access cryptocurrency. Blockchain.com has been backed by venture capital since 2014 and has recently raised $537 million in equity capital at a valuation of $5.2 billion. Attend Blockchain.com for more info, follow us on Twitter @blockchainchecking out The Blockchain.com Podcastand read our blog for the latest company news.

About BTC Proxy

Launched on July 30, 2021, BTC Proxy provides a more scalable layer-2 protocol to decentralize Bitcoin tokenization using a permissionless interface. At its core, BTCpx is a Bitcoin bridge that uses insured multisig third-party custodians to facilitate Bitcoin (BTC) participation in DeFi. BTC Proxy allows individuals and institutions to safely earn sustainable returns and rewards to outperform most products available on the Bitcoin Marketplace. Attend BTCproxy.io for more info, follow us on Twitter @BTC_proxyview our articles about Medium for the latest news.

Disclaimer: This is a paid post and should not be treated as news/advice.

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