Binance plans to roll out support for a new cross-chain crypto gaming project via its Launchpool platform. The top global crypto exchange says the 47th Binance Launchpool project will be Portal (PORTAL), a project that aims to unite games from different blockchains on its cross-chain token platform. Launchpool allows users to stake coins to farm […]
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The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours.
Defi Value Swells Close to 2% Higher to Over $50 Billion
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Crypto classes organized for Ukrainians have begun on a government-run portal, a minister announced. More than 20,000 people have registered for the educational course in the war-torn country which maintains an objective to become “the best crypto jurisdiction.” Thousands of Ukrainians to Study About Bitcoin, Mining, and Smart Contracts Ukraine’s ‘Дія. Цифрова освіта’ (Diia Digital […]
Crypto prices have surged in value over the past few days, and the total value locked (TVL) in decentralized finance (defi) has surpassed the $50 billion mark for the first time since the collapse of FTX. As of Feb. 16, 2023, the TVL in defi is $51.1 billion, with the liquid staking protocol Lido accounting […]
Pressure from the Kremlin and sanctions from the West have forced Russian news outlet Meduza to increasingly rely on cryptocurrency donations to fund its independent journalism. As the restrictions imposed over Moscow’s invasion of Ukraine have prevented its Russian readers from contributing in fiat currency, the Riga-based website now accepts several digital coins. Meduza Pulls […]
Polygon’s scaling solution hosts in excess of 400 decentralized applications across a 1.5 million user base.
Decentralized exchange, or DEX, and self-custody wallet platform Portal has announced a strategic partnership agreement with layer-two blockchain network Polygon to advance Bitcoin functionality in the decentralized finance, or DeFi, market.
Portal currently offers fully decentralized on-chain spot and options trading, as well as peer-to-peer lending and borrowing. This partnership is expected to expand these user capabilities through the enablement of zero-knowledge swap functionalities for wBTC/BTC as well as POS/WBTC to BTC, in addition to Polygon operating a liquidity-supporting node on Portal DEX.
Portal's primary objective is to cultivate a self-governing, anonymous and uncensored ecosystem for Bitcoin on DeFi. The platform's utilization of Bitcoin's hash time-locked contracts grants users robust security in their transaction activities, while its layer-three technology, Fabric, enables the deployment of typical smart contract functionalities such as staking and liquidity,
Executive chairman of Portal Dr. Chandra Duggirala commented on the potential for the enhanced usability of Bitcoin in the DeFi space.
“Given that Portal is a DeFi layer on Bitcoin, we are excited to partner with Polygon to enable WBTC/BTC and POS-WBTC to BTC swaps. We believe that having liquid markets and enabling price discovery will appropriately price wrapped Bitcoin based on risk and enables increased usability for Bitcoin.”
Related: No more wrapped Bitcoin? This DeFi platform brings native BTC lending to Ethereum
In late September, Portal benefitted from an $8.5 million funding raise with participation by a panoply of institutional powerhouses, including, but not limited to Coinbase Ventures, Arrington XRP Capital, OKEx, in addition to senior figures from Ethereum, Dfinity and Galaxy Digital, among others.
Founder of Portal George Burke shared a humorous entry from the firm's monthly Memeathon, a light-hearted competition that invites community members to engage in the much-loved social sport of "meme-ing." The winner of the October competition can be seen here.
Awesome submission to Portal's #PortalMemeathon https://t.co/WITxZaCQpZ
— George Burke (@geoburke) October 29, 2021
