October 8, 2021
Orbit Chain Integrates Stacks To Welcome Bitcoin To The Growing $80B DeFi Economy
by Louise Ivan on October 8, 2021
From DeFi to NFTs, Stacks is redefining what many previously assumed Bitcoin was capable of. This evolution is thanks to a Stacks Ecosystem that is constantly finding new ways to make the fruits of Bitcoin available and accessible to everyone. Today, that trend not only continues, but we also welcome another major player to the ecosystem as Orbit Chain will launch support for the Stacks blockchain.
The Orbit Chain team will integrate the Stacks blockchain and turn their attention to creating bridges between Stacks’ Bitcoin-connected blockchain and Orbit Chain’s growing ecosystem of public blockchains. Stacks users and developers will be able to leverage Orbit Chain’s cross-chain interoperability protocol to transfer tokens, data, assets, and smart contracts on the Stacks blockchain to Orbit Chain’s network and thereby to the chains it connects to.
Ultimately, this connection is designed to further unlock Bitcoin's massive capital potential. Bitcoin is the most traded and liquid cryptocurrency, but it has largely gone untapped by the $80B DeFi machine. The combined capabilities of Orbit Chain and Stacks will ensure DeFi on Bitcoin continues to grow more powerful. This will in turn enable Bitcoin-secured lending, borrowing, trading, and offer a direct connection to other popular DeFi forward protocols.
Orbit Chain works by interconnecting blockchains and making them cross-chain compatible, creating unity in a fragmented and disconnected blockchain landscape. Orbit Chain has built a notable reputation for itself in the past eight months since its launch, having bridged more than $10B worth of assets across other top chains including Ethereum, BSC, Polygon, Klaytn, ICON, and Ripple.
Their recent work includes Belt Finance, a stable swap AMM (Automated Market Maker) protocol that combines multi-strategy yield optimizing on Binance Smart Chain (BSC) and HECO Chain with low fees that provide aggregation through vault compounding, lending, and yield generation for maximum returns to their users. Currently, Belt Finance hosts some of the largest TVLs of any platform on both BSC and HECO Chain, accounting for more than $1.4 Billion.
Another recent accomplishment is KLAYswap, which extends the Klaytn DeFi ecosystem through liquidity pool-based KLAY, ETH, WBTC, and USD. Instead of buying and selling order books, liquidity providers create liquidity pools that allow traders to trade freely. In turn, liquidity providers share any generated transaction fees as revenue in proportion to their liquidity contributions.
With a tremendous track record for bridging crypto ecosystems, this integration with Orbit Chain will lay the foundation for creating a high liquidity environment for popular DeFi platforms in Korea, which fosters the largest Stacks community and accounts for more than 60% of Stacks overall trading volume. The integration is set to be live in Q2 of 2022.
About Orbit Chain (Orbit Bridge)
Orbit Chain is a multi-asset hub blockchain that stores, transfers, and verifies information and assets on various public blockchains through decentralized Inter Blockchain Communication (IBC). Currently, Orbit Chain supports more than 11 public chains, including Bitcoin, Ethereum, Binance Smart Chain, Huobi ECO Chain, Polygon, Ripple, Klaytn, ICON, and Terra. Orbit Chain is committed to researching the interoperability of chains and further developing the DeFi ecosystem with better products and services.
Ozys, the team behind Orbit Chain, is a company spearheading blockchain development in South Korea, working tirelessly to create unity in the fragmented and dissociated blockchain world. Working under the ethos of “Connecting the Unconnected,” Ozys’ projects utilize cutting-edge technologies to bridge different ecosystems together. Ozys is a member of the Klaytn Governance Council alongside multinational businesses and organizations, including Binance, Huobi, MakerDAO, LG Electronics, and Kakao.
[Orbit Chain Official Sites & Communities]
Orbit Bridge: https://bridge.orbitchain.io
Orbit Chain: https://orbitchain.io
Orbit Chain Global Telegram: https://t.me/OrbitChainGlobal
Orbit Chain Twitter: https://twitter.com/Orbit_Chain
The Orbit Chain team will integrate the Stacks blockchain and turn their attention to creating bridges between Stacks’ Bitcoin-connected blockchain and Orbit Chain’s growing ecosystem of public blockchains. Stacks users and developers will be able to leverage Orbit Chain’s cross-chain interoperability protocol to transfer tokens, data, assets, and smart contracts on the Stacks blockchain to Orbit Chain’s network and thereby to the chains it connects to.
Ultimately, this connection is designed to further unlock Bitcoin's massive capital potential. Bitcoin is the most traded and liquid cryptocurrency, but it has largely gone untapped by the $80B DeFi machine. The combined capabilities of Orbit Chain and Stacks will ensure DeFi on Bitcoin continues to grow more powerful. This will in turn enable Bitcoin-secured lending, borrowing, trading, and offer a direct connection to other popular DeFi forward protocols.
Orbit Chain works by interconnecting blockchains and making them cross-chain compatible, creating unity in a fragmented and disconnected blockchain landscape. Orbit Chain has built a notable reputation for itself in the past eight months since its launch, having bridged more than $10B worth of assets across other top chains including Ethereum, BSC, Polygon, Klaytn, ICON, and Ripple.
Their recent work includes Belt Finance, a stable swap AMM (Automated Market Maker) protocol that combines multi-strategy yield optimizing on Binance Smart Chain (BSC) and HECO Chain with low fees that provide aggregation through vault compounding, lending, and yield generation for maximum returns to their users. Currently, Belt Finance hosts some of the largest TVLs of any platform on both BSC and HECO Chain, accounting for more than $1.4 Billion.
Another recent accomplishment is KLAYswap, which extends the Klaytn DeFi ecosystem through liquidity pool-based KLAY, ETH, WBTC, and USD. Instead of buying and selling order books, liquidity providers create liquidity pools that allow traders to trade freely. In turn, liquidity providers share any generated transaction fees as revenue in proportion to their liquidity contributions.
With a tremendous track record for bridging crypto ecosystems, this integration with Orbit Chain will lay the foundation for creating a high liquidity environment for popular DeFi platforms in Korea, which fosters the largest Stacks community and accounts for more than 60% of Stacks overall trading volume. The integration is set to be live in Q2 of 2022.
About Orbit Chain (Orbit Bridge)
Orbit Chain is a multi-asset hub blockchain that stores, transfers, and verifies information and assets on various public blockchains through decentralized Inter Blockchain Communication (IBC). Currently, Orbit Chain supports more than 11 public chains, including Bitcoin, Ethereum, Binance Smart Chain, Huobi ECO Chain, Polygon, Ripple, Klaytn, ICON, and Terra. Orbit Chain is committed to researching the interoperability of chains and further developing the DeFi ecosystem with better products and services.
Ozys, the team behind Orbit Chain, is a company spearheading blockchain development in South Korea, working tirelessly to create unity in the fragmented and dissociated blockchain world. Working under the ethos of “Connecting the Unconnected,” Ozys’ projects utilize cutting-edge technologies to bridge different ecosystems together. Ozys is a member of the Klaytn Governance Council alongside multinational businesses and organizations, including Binance, Huobi, MakerDAO, LG Electronics, and Kakao.
[Orbit Chain Official Sites & Communities]
Orbit Bridge: https://bridge.orbitchain.io
Orbit Chain: https://orbitchain.io
Orbit Chain Global Telegram: https://t.me/OrbitChainGlobal
Orbit Chain Twitter: https://twitter.com/Orbit_Chain
Louise Ivan leads growth efforts at the Foundation, with particular focuses on increasing worldwide token access and empowering regional communities.
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