Wrapped Bitcoin Launches On Kadena

Wrapped.com and Kadena partnered bring Wrapped BTC — kBTC — to the Kadenaswap Universal AMM infrastructure and the Kaddex DEX.

Kadenaswap technology leverages Kadena’s scalable Proof-of-Work blockchain to ensure that the Kaddex DEX can handle extremely large amounts of trading volume. This is done under a tenet that no matter how fast a layer-1 blockchain is today, if it can’t scale to multiple chains, it will inevitably hit a brick wall and face symptoms like slow performance and high transaction fees. Kadena’s core decentralized technology parries this through a combination of security, scalability, and safety to bring an “industrial-scale” operation to crypto: fast performance and practically free gas fees.

Kadenaswap will eventually deploy on other platforms like Cosmos and Polkadot, using the same techniques that will power multi-chain liquidity across the Kadena blockchain. Furthermore, Kadena Chain Relay enables decentralized bridges to other protocols and provides economic security through bonded KDA.

Kadena has chosen Wrapped to provide valuable wrapped assets starting with kBTC, then kETH, with more protocols planned, all backed 1:1 with a qualified custodian. Kadenaswap uniquely provides a single clearing and settlement platform across multiple blockchains, clearing wrapped asset positions across chains as they move from one platform to another.

About Wrapped

Wrapped lets investors use their digital assets to lend, borrow, and trade on all major DeFi platforms. Each wrapped asset is fully-collateralized and held with a qualified custodian.

About Kadena

Kadena’s public blockchain is the only sharded and scalable layer-1 PoW network in production today. It utilizes a Proof of Work consensus mechanism that improves throughput and scalability while maintaining the security and integrity found in Bitcoin.

➡️Source:
https://medium.com/wrapped/wrapped-bitcoin-launches-on-kadena-soon-e911bffc82f5