24 C
Guangzhou
Tuesday, October 8, 2024
BitcoinAvalon Finance Collaborates with Core DAO to Enhance Bitcoin DeFi Ecosystem

Avalon Finance Collaborates with Core DAO to Enhance Bitcoin DeFi Ecosystem

- Advertisement -spot_imgspot_img
- Advertisement -spot_imgspot_img

Avalon Finance, a prominent platform in the world of Bitcoin DeFi, is injecting a significant amount of funds into decentralized finance through a new partnership. The company has announced its integration with Core DAO, a Bitcoin-driven EVM-compatible blockchain, to enhance the Bitcoin DeFi space. Core DAO made the announcement of this collaboration on its official X account.

Avalon Finance’s latest integration with Core DAO is aimed at expanding the Bitcoin DeFi ecosystem. Along with the announcement, the platform shared a blog post on social media, providing further details. It highlighted that Avalon Finance functions as a decentralized protocol and that the integration is designed to combine the strengths of both companies. By leveraging Avalon Finance’s cutting-edge financial solutions and Core’s robust blockchain infrastructure, the initiative aims to bring about significant advancements in the Bitcoin DeFi realm.

The primary objective of Avalon Finance is to establish the largest Bitcoin lending platform within the ecosystem. In addition to driving substantial value to decentralized finance and attracting more users, Avalon operates a cross-chain lending platform with over $300 million in total value locked and a client base exceeding 20,000. The platform boasts three key features that enhance user experience and functionality.

The development includes overcollateralized lending through a foundational lending protocol that supports a wide range of assets, including both popular cryptocurrencies and less liquid tokens. The platform also offers a lending-based algorithmic stablecoin that improves capital efficiency for users. Furthermore, Avalon provides RWA lending through an advanced protocol that deals with both permissionless and permissioned real-world assets, aiming to maximize yield farming and capital efficiency.

By integrating with Core DAO, Avalon Finance is able to expand the Bitcoin DeFi ecosystem through four key enhancements. This integration enhances security by utilizing Core’s consensus mechanism “Satoshi Plus” and allows for seamless BTC integration into DeFi products. Additionally, it improves accessibility through EVM compatibility and unlocks the full potential of Bitcoin by providing ample liquidity and additional opportunities for yield farming.

Tags: BTC, DeFi

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here