Decentralized Exchanges (DEX) are experiencing a resurgence in recent months, with many new entrants cropping up and offering unique features. Yield farming and DeFi will change the way people think about trading on Bitcoin and provide exciting opportunities for those who want to invest in digital assets without buying coins themselves.
The “defi yield farming rates” is a new Bitcoin DEX that allows users to trade with the most popular cryptocurrency in the world. DeFi is coming to Bitcoin via this new platform.
With the debut of the first decentralized exchange (DEX) to settle transactions on the Bitcoin network using Stacks, Stackswap is pushing Bitcoin’s DeFi to the next level.
Stackswap connects parts of the Stacks network’s current DeFi features, allowing users can participate in swaps, liquidity mining, token production, and yield earning possibilities.
DeFi on Bitcoin
Stackswap, which just announced a $1.3 million fundraising round, leverages the Stacks blockchain to enable Bitcoin-powered smart contracts and innovation. Stacking, which enables Stacks token holders to earn bitcoin yield, is one way users may participate in DeFi on Bitcoin via yield earning options.
Other trading features offered by Stackswap include arbitrage, market forecasts, and aggregate possibilities from other DEXs on other blockchains. Arkadiko customers may utilize Stackswap to swap Arkadiko tokens or Arkadiko’s stablecoin, USDA, for more earning possibilities, after the successful launch of Arkadiko, a self-repaying lending platform based on Stacks.
“When it comes to DeFi, there are a few essential parts lacking inside the Stacks ecosystem, and Stackswap works as the key that unlocks the entire DeFi potential for Bitcoin.” Sungmin Aum, CEO of Stackswap, stated, “I worked with my team to design something that would satisfy the rising need for DeFi tools on Bitcoin, and we felt that a full-service DEX would have the most effect on the community.”
Not long behind are NFTs and launchpads.
Users who want to develop a Stacks protocol project may utilize the Stackswap token Launchpad to generate new tokens or NFT projects that inherit Bitcoin’s security features.
Offline partner accelerators and funds, such as the Stacks Accelerator, are instantly notified of projects that have issued tokens via the Launchpad.
“As one of the first Stacks Accelerator graduates, Stackswap has shown that DeFi on Bitcoin is achievable.” “I believe we will see a frenzy of trading activity and more options where individuals can acquire wealth via Bitcoin yield as an individual but also as a community,” said Trevor Owens, Managing Partner at Stacks Accelerator, a mentoring program for entrepreneurs developing on Stacks.
Stackswap is poised to tap into an audience that is more than ready to utilize Stacks and Bitcoin DeFi tools to their full potential by debuting in Korea, which has one of the biggest Stacks communities and most knowledgable DeFi populations.
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Posted in: DeFi, Exchanges, Technology
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The “Yield farming and DeFi are coming to Bitcoin via new Bitcoin DEX” is a report that Yield.farm will be using the new decentralized exchange, Bitbox, to launch their own token called the “aave”. The article also states that yield farming is coming to Bitcoin. Reference: aave yield farming.
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