[PRESS RELEASE – Vancouver, Canada, August 30th, 2024]
TeleportDAO at present introduced the supply of a brand new function on its TeleSwap protocol, enabling customers to seamlessly swap Wrapped Bitcoin (WBTC) for native Bitcoin (BTC) in a totally decentralized method. This service addresses the rising demand for decentralized options amid ongoing discussions across the centralized nature of WBTC.
TeleportDAO’s TeleSwap now permits customers to convert WBTC again to BTC shortly and securely with out relying on any centralized intermediaries. The swap course of is streamlined, providing customers the power to execute the conversion with a single click on and full the transaction in lower than three minutes. Moreover, the service operates at a low charge, making it accessible to a broad vary of customers.
The brand new WBTC to BTC swap function on TeleSwap is supported throughout six blockchain networks, together with Ethereum, Polygon, Arbitrum, Optimism, BSquared, and BOB. This multi-network functionality supplies customers with the flexibleness to conduct swaps on their most well-liked blockchain, whereas nonetheless benefiting from the safety and trustlessness that TeleportDAO’s light-client bridge know-how affords.
By integrating this new function, TeleportDAO is responding to the rising issues throughout the cryptocurrency group concerning the centralized management of WBTC. The TeleSwap protocol affords a totally decentralized different, making certain that customers can keep better management over their digital property. This aligns with TeleportDAO’s ongoing dedication to supporting decentralized finance (DeFi) by offering safe, clear, and user-friendly options.
The WBTC to BTC swap function is now stay on TeleSwap and might be accessed straight by means of TeleportDAO’s platform. This announcement marks an essential addition to TeleportDAO’s suite of decentralized instruments and companies, reinforcing its place as a key participant within the improvement of safe cross-chain functions.
About TeleportDAO
TeleportDAO is a trustless interoperability protocol that gives the infrastructure for builders to construct cross-chain functions. By connecting blockchains straight by means of a light-client bridge, TeleportDAO affords safe and trust-minimized blockchain connections that don’t rely on third-party validators. The protocol helps a variety of blockchains, enabling the creation of progressive decentralized functions that may function throughout a number of networks. TeleportDAO is dedicated to fostering a decentralized future the place customers and builders alike can discover the limitless potentialities of blockchain know-how.
For extra info, customers can go to TeleportDAO’s website.
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