Interlay supports $6.5 million to help Bitcoin DeFi interoperability-


Interlay, a world-renowned platform in the field of blockchain interoperability, achieved a milestone by pooling US$6.5 million led by DFG Capital. The funds raised will be used for Interlay to expand the operating capabilities of its open source network and gain more support from the DApp developer community.With the newly accumulated funds, Interlay will further fulfill its role as a cross-top blockchain (such as Cosmos, Polkadot and Ethereum.

Founder and CEO of Dongfeng Capital, James War Citing Interlay’s powerful infrastructure will open up new opportunities in the field of encryption. The platform will play an important role in expanding the cross-chain capacity of Bitcoin, which is the cryptocurrency with the largest market value. Interlay is paving the way for integration Crypto token Bring with DeFi platform Decentralized finance The industry is the mainstream.

Interlay’s core system runs on its native product called InterBTC, which is a fully encrypted asset linked to Bitcoin. The currency is backed by multiple collaterals and operates like a typical stable currency, which can be easily liquidated into Bitcoin based on convenience. Just before that, in 2019, the Web3 Foundation provided initial financial assistance to use Bitcoin’s liquidity to promote the growth of DeFi. Interlay is rapidly expanding its employee base to advance its growth plan.

The growth in the popularity of decentralized finance is obvious, especially when investors have begun to explore its potential in the past few years. With the continued growth of cryptocurrency, the total value of the DeFi protocol rose to more than US$270B in November. With the growing interest in DeFi interoperability, the company looks forward to bringing DeFi into mainstream financial services. The main disadvantage of the current DeFi industry is the lack of privacy. Developers are working hard to create solutions that provide high-end security and a user-friendly trading experience. The future is likely to witness the large-scale growth and development of the entire DeFi cluster.


Source link

Recommended For You

About the Author: AZ