Coinbase-backed Portal Announces Partnership With Mintlayer in a Major Push for Bitcoin-based DeFi
Categories: Crypto News US
Portal, a self-hosted wallet and true cross-chain Layer-2 DEX built on Bitcoin, officially announces its collaboration with Mintlayer, a Bitcoin sidechain protocol that aims to bring decentralized financial markets to the masses. The partnership will bring Portal’s uncensorable cross-chain DEX functionality to Mintlayer, giving new impetus to Bitcoin-based decentralized finance (DeFi). Both Portal and Mintlayer are committed to enabling users to interact with the DeFi ecosystem in a private and secure environment with the lowest possible fees. The addition of sidechain assets issued on Mintlayer will increase the number of trading pairs available to Portal DEX users. The partnership will benefit Mintlayer by making its assets accessible to a larger user base through Portal’s DEX network. The partnership marks a major milestone in the growth of DeFi on the Bitcoin network. As more and more sidechains and blockchains become compatible with the Bitcoin network to access its liquidity, capital, and ecosystem, Portal will act as a gateway through which all the activity flows.Portal DEX is the first censorship resistant, Layer-2 cross-chain DEX that doesn’t use bridges or wrapping to transfer assets between different chains. It uses atomic swaps instead, which are much more secure. It is designed to bring liquidity to Bitcoin sidechain assets and layered applications. Having seamless cross-chain liquidity is the key to expanding utility and user base for any layered application built on Bitcoin. About Mintlayer Mintlayer is a Bitcoin sidechain that improves direct token interoperability enabling new ways to trade value, creating a system where new business models can flourish and participate in truly trustless finance. The protocol leverages technologically advanced scalability to enforce network security, increase node inclusivity, and ensure long-term sustainability. It aims to accelerate the future of Decentralized Finance (DeFi) and contribute to scaling financial markets globally. About Portal Portal is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that’s trust-minimized. It eliminates minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.