Decentralized Finance Protocol (DEFI) Develop in bitcoin (more commonly known as “Bob”) has opened a system that provides -daan Holders moved their property to decentralized trading apps with a click, the company said Tuesday.
The “Bob Gateway” links the native Bitcoin to the “Omnichain Fungible Token” (OFT) version of the BTC wrapped, an asset issued by Bitgo. The integration reaches 11 blockchains including Ethereum, Avalanche and Base, which bring access to nearly 15,000 decentralized apps that can now support Bitcoin’s direct deposits.
To this day, most of these blockchains have lacking a straightforward way to connect to Bitcoin. Users often navigate complex bridging processes, which bring both friction and security risks.
At the Bob Gateway, they can move between native BTC and WBTC.OFT in one step, a change that can make techniques such as harvesting or looping trading more accessible to investors and institutional investors.
The produce of farming and looting of liquidity in defi platforms, which acts as a foundation for lending, borrowing, and trading. This process allows users to earn significant passive income. It makes these trading easy on native BTC – The largest and most trusted digital asset – Mobilizing a massive capital pool, adding liquidity, security, and general defi market.
More than $ 2.3 billion worth of WBTC.OFT has been -bridged throughout 67,000 transfers to Layerzero, companies said. By enabling direct flow from the native BTC, the gateway can bring fresh liquidity to defi markets that rely on Bitcoin wrapped as collateral or trading pairs.
Alexei Zamyatin, Bob’s co-founder, said the update was “made immediately accessing WBTC.OFT” throughout the supported chain, as Simon Bakyso’s Simon Bakys described the transfer as increasing the utility to “one of the most trusted crypto properties.”
Rollout includes Ethereum, avalanche, base, unichain, soneium, bera, optimism, sei, sonic and bob itself, covering most of the current Defi landscape.
