Bitcoin Cross-chain DEX, Portal, has announced a partnership with Bitcoin sidechain protocol, Mintlayer. Portal’s cross-chain DEX capabilities will be coming to Mintlayer as part of the agreement. This is all geared towards bringing Bitcoin-based DeFi solutions to the masses. Also, Portal DEX users will now be able to trade more trading pairs thanks to Mintlayer’s sidechain assets. On the other hand, the DEX network of Portal will make Mintlayer’s assets more widely available to a wider range of users.
A growing number of Bitcoin-compatible sidechains and blockchains will be a doorway for Portal to provide the infrastructure for accessing liquidity and capital. Therefore, the partnership will likely stimulate faster growth of DeFi on the Bitcoin network. Every layer of a Bitcoin-based application relies on smooth cross-chain liquidity to grow its utility and user base.
To make the DeFi as accessible and private as possible, Portal and Mintlayer are collaborating to provide the lowest prices. The fact that they are working together shows their dedication to achieving that goal, which ultimately benefits users. Many experts predict that DeFi will succeed on the Bitcoin network because BTC is the most popular cryptocurrency, accounting for more than 40% of all circulating supply.
About Mintlayer
The direct token interoperability of the Mintlayer sidechain is enhanced by the use of Bitcoin. In order to make financial markets more accessible to everyone, it aims to expedite the development of DeFi and contribute its global expansion. In addition, it’s establishing a framework where new business models can thrive and take part in truly trustless finance by enabling new ways to trade value.
About Portal
Portal is a Bitcoin-powered DeFi platform. Thanks to Layer 2 and Layer 3 technology, it has built censorship-resistant communications. As a result, it is the first cross-chain DEX that’s trust-minimized. Also, it is highly secure and avoids the dangerous staking with intermediaries that comes with minting wrapped coins.