Defi on Bitcoin Soars As Locked Total Value Of RSK Crosses 1.445K BTC By CoinQuora

© Reuters. Defi on Bitcoin Soars As Locked Total Value Of RSK Crosses 1.445K BTC

  • RSK Network has outperformed Lighting Network with over 1,400 TVL.
  • Part of the increase in RSK-based DeFi is due to the recently launched Sovryn DEX.
  • Sovryn launched in April with funding of $ 9 million.

Recently launched, the decentralized exchange (DEX), Sovryn, has helped the Layer 2 platform, RSK, to exceed 1,400 BTC in Total Locked Value (TVL).

To clarify, RSK has a current TVL of 1,445 BTC, over 259,000 smart contract transactions, and nearly 50,000 active users. As a result, RSK Network overtook the Bitcoin-based blockchain lighting network for the first time. Moreover, the high value of TVL is proof of the growing demand for DeFi on the Bitcoin network.

Although the lion’s share of DeFi is on the network, the emergence of BTC-based smart contract platforms provides the necessary diversification for the growing field of DeFi.

Notably, RSK is able to facilitate almost instant payments, offering greater scalability …

This article first appeared on coinquora.com

Continue reading on CoinQuora

Warning: Fusion Media reminds you that the data contained in this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but rather by market makers, so prices may not be precise and may differ from the actual market price. , which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any responsibility for loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Be fully informed of the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

Uncategorized