BTC Proxy Is Live on BNB Chain and Interoperable With WBTC and BTCB

PRESS RELEASE. Leading DeFi protocol BTC PROXY contiguous expanded enactment for the Binance BNB Chain arsenic good arsenic updating enactment connected Ethereum and Polygon for their ($BTCpx) Bitcoin Proxy. Minting and bridging of BTCpx to the 3 networks goes unrecorded connected oregon aft March 10th, 2023. This fulfilled a imaginativeness of allowing the Proxy assemblage to utilize their Bitcoin for usage successful DeFi connected Polygon, Ethereum and BNB Chains.

BTC Proxy’s enlargement to the 3 networks allows the Minting of BTCpx token utilizing BTC Bitcoin, WBTC ERC20 and Polygon arsenic good arsenic BTCB BEP20. This is simply a large leap guardant for the Bitcoin DeFi ecosystem arsenic it opens up the protocol to 19.2M Bitcoins successful circulation arsenic good arsenic 52,979 BTCb connected Binance arsenic good arsenic 176,097 WBTC successful circulation connected Ethereum and Polygon.

No different task offers the usage of insured custody to clasp Bitcoin. BTC Proxy is suitable for afloat custody concern funds and holders that request the assurance of a qualified custodian.

Qualified custodians trim counterparty hazard arsenic the holdings are insured and regulated and required to segregate lawsuit funds and are not permitted to commercialized oregon leverage their holdings. This is simply a blistery taxable since the illness of large centralized platforms similar FTX and Celsius person eroded user spot successful cryptocurrencies. BTC Proxy is integrated with starring custodians specified arsenic Binance Custody, Fireblocks and Gemini Trust.

Users utilizing BTCpx tin present freely determination it seamlessly from 1 web to different and redeem it for existent BTC with the caller Bridge function.

BTC Proxy’s minting and span functions moves america 1 measurement person to our extremity of launching Redux, our flagship Bitcoin Market Protocol for lending and borrowing of Bitcoin and different assets. Redux volition let for the decentralised collateralization and the borrowing of Bitcoin to regenerate the relation of the accepted lending desks astatine centralized institutions.

BTC Proxy presently operates The Bitcoin Farm which is designed to beryllium a sustainable protocol that pays retired fees that person been earned from different tasks successful their DeFi ecosystem including Minting, Bridging and Bonding.

With implicit 30 institutions onboarded to the protocol already, including large players similar Blockchain.com, the possibilities for #RealYield keeps growing. Recent events person fixed intermission to the thought that CeFi is successful immoderate mode superior to DeFi. The transparency of DeFi allows protocol participants to spot precisely wherever the #RealYield is being earned.

Today’s announcement expands the protocol onto different large web arsenic it eyes its extremity to beryllium the person successful Bitcoin DeFi. BTC Proxy is positioned arsenic the safest, fastest, and astir businesslike protocol to supply decentralized inferior for Bitcoin. The processing protocol focuses connected worth accrual to the $PRXY token and coming protocol developments look to proceed that inclination via #RealYield.

Donnie Kim, BTC Proxy CEO said:

“At BTC PROXY, we are focused connected making Bitcoin enactment for holders, enactment for DeFi, and enactment for the wider community. Bitcoin is large astatine storing worth but unlocking and utilizing that worth is not easy. Today’s announcement is different large measurement for expanding reliable and assured methods to enactment BTC to work.

As a protocol, we person ever been wide that our solutions should beryllium trusted, safe, and efficient. Centralized services person well-documented risks. These person led to caller well-publicised failures that interaction connected everyone successful the sector.

BTC Proxy believes that BTC holders should not person to ‘cross their fingers’ erstwhile investing their assets. Our insured custody exemplary guarantees the information of investments, making our caller functions the cleanable prime for individuals and institutions alike.

About BTC PROXY

BTC Proxy is simply a multi-institutional protocol for the decentralized tokenization of Bitcoin and present WBTC and BTCB connected Ethereum, Polygon and present BNB Chain. Proxy gives Bitcoin holders a inferior to transportation worth into DeFi with reduced hazard of theft oregon loss.

BTC Proxy is besides a DeFi ecosystem that allows the Farming of Bitcoin, Compound Staking, Bonding, etc utilizing its autochthonal PRXY and BTCpx tokens.

Coming soon our flagship Bitcoin Market Protocol called Redux.

Media Enquiries: hello@btcproxy.io

Web: https://btcproxy.io

Twitter: @BTC_proxy

Discord: https://discord.gg/JVHUbREbBU

This is simply a property release. Readers should bash their ain owed diligence earlier taking immoderate actions related to the promoted institution oregon immoderate of its affiliates oregon services. Bitcoin.com is not responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful the property release.

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