OmniBTC Partners with ChainX
OmniBTC is delighted to announce a partnership with ChainX, a Bitcoin Layer2 network, to introduce ChainX’s flagship product XBTC into the Aptos ecosystem, which will make Bitcoin available in DeFi projects on Aptos.
To introduce XBTC into Aptos, OmniBTC builds a decentralized asset cross-chain bridge from the ChainX EVM module to the Aptos VM. This means that OmniBTC is the first to realize cross-chain message passing between Aptos chain and other EVM heterogeneous chains, and is the first to introduce Bitcoin into the Aptos public chain and its ecology.
Combining the two core businesses of OmniBTC, omnichain swap and omnichain lending, users will be able to exchange XBTC and assets on the Aptos chain with one click in OmniBTC, and can borrow stablecoins on Aptos by mortgaging XBTC.
OmniBTC took the lead in breaking the separation between the EVM chains and the Move public chains, extending the application field of Bitcoin to the non-EVM Move public chain ecology for the first time, making it widely available in the DeFi projects of the Aptos ecosystem.
About OmniBTC
OmniBTC is an omnichain financial platform with the following main businesses:
1. OmnichainSwap. It allows users to exchange native assets on any two chains with one click with low handling fees, without using a cross-chain bridge.
2. Omnichain Lending. Users can mortgage a variety of assets and borrow a variety of stablecoins on any chain with one click.
OmniBTC designs and implements a cross-chain communication protocol to realize message communication between MoveVM and EVM/WASM. Message communication between heterogeneous chains is resolved through address binding between MoveVM and EVM. OmniBTC has removed a major obstacle that limited the development of Aptos. Allowing MoveVM to have the possibility of reaching a capital pool of 66 billion US dollars.
About ChainX
ChainX will become the largest Bitcoin Layer 2 Network in the world. The first Substrate blockchain to go live will provide Polkadot with the most valuable digital assets on the market. Committed to realizing trustless and decentralized bridges for Bitcoin and other assets. It forms an inter blockchain asset gateway, pathing the way for a truly interoperable network of blockchains.
SOURCE: MEDIUM
