Coral Finance, a staking protocol focusing on Bitcoin L2, has embarked on an exciting collaboration. According to the platform, it has recently teamed up with UniPort Network, an interoperability protocol for assets within the Bitcoin ecosystem. The company announced the partnership on its official social media account on the forum X.
“We are delighted to announce our partnership with UniPort Network, an Omni-Chain Interoperability Protocol for Bitcoin ecosystem assets. Coral Finance is a staking protocol that allows users to stake non-BTC assets and earn leveraged yield. Stay tuned for updates on this exciting partnership!” tweeted Coral Finance on June 1, 2024.
Coral Finance and UniPort Network have joined forces to enhance interoperability for users. In a recent post on X, the company expressed its confidence in this exclusive venture. Coral Finance utilizes a cutting-edge mechanism called Premium Trading, which provides crypto projects with a sustainable liquidity/staking aggregation solution that is non-inflationary and reliable. The platform prioritizes values such as capital efficiency, risk management, and asset growth in order to meet the needs of its consumers.
The company plans to introduce RWA (Real World Asset) assets, such as stocks, through its Premium Trading mechanism. This is expected to drive liquidity and user growth in traditional finance in the long term. Premium Trading acts as an exclusive trading mechanism that aggregates liquidity to facilitate effective market making and allows consumers to trade their crypto tokens at significant prices.
Coral Finance has also launched corToken, a derivative coin that is minted from the platform’s native token at a 1:1 ratio. This enables consumers to earn leveraged yields. UniPort Network, on the other hand, operates an Omni-chain interoperability platform for ecosystem-based assets. It provides comprehensive support for the interoperability of various assets, including RGB++, Runes, ARC20, Ordinals-NFT, and BRC20.
Tags: BTC
