BITQUITY unveils revolutionary Bitcoin-backed DeFi platform
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BITQUITY launches a DeFi platform on Bitlayer, enabling Bitcoin holders to earn, borrow, and stake with tools like the Bitcoin Backed Dollar (BBD) stablecoin.
London, United Kingdom, December 12, 2024 — BITQUITY is proud to announce the launch of its innovative decentralized finance (DeFi) platform, designed to unlock the full potential of Bitcoin holdings. By leveraging the Bitlayer ecosystem, BITQUITY enables users to earn passive income, access instant liquidity, and amplify gains through a suite of cutting-edge financial tools.
Key features of BITQUITY:
Bitcoin Backed Dollar (BBD): An over-collateralized stablecoin exclusively available on Bitlayer, providing stability and liquidity backed by Bitcoin.
0% Interest Borrowing: Users can borrow BBD against their Bitcoin collateral with zero interest rates, offering a cost-effective solution for accessing funds without selling assets.
Over-Collateralized Loans: To ensure security, loans require a minimum collateral ratio of 110%, with higher ratios recommended to mitigate liquidation risks.
Staking Opportunities: Stake BBD in the Stability Pool to earn SWAPE tokens and Bitcoin from liquidations. Additionally, staking SWAPE allows users to earn borrowing and redemption fees.
Flexible Repayment: No maturity time limits on loans enable users to repay at their convenience, providing unparalleled financial flexibility.
Innovative use cases:
Hedging: Stabilize investments against market fluctuations by holding BTC alongside other assets and retrieving collateral anytime.
Leverage: Amplify returns through leveraged lending, borrowing additional funds for investments, and increasing exposure to potential gains.
Liquidity: Benefit from multiple stabilization mechanisms, secure liquidations and redemptions, and smart swap routing for seamless transactions.
Built on Bitlayer, a native Bitcoin Layer 2 solution, BITQUITY addresses Bitcoin’s scalability and transaction cost challenges. By utilizing the BitVM paradigm, Bitlayer achieves Bitcoin finality, trustless bridging, and supports multiple virtual machines, facilitating easy migration for developers.
“Our mission is to empower Bitcoin holders with decentralized financial tools that maximize their assets’ potential without compromising security or incurring high costs,” said Fab, CEO of BITQUITY. “BITQUITY represents a significant advancement in Bitcoin’s DeFi ecosystem, offering users unprecedented opportunities for growth and financial freedom.”
BITQUITY is currently inviting early investors to participate in its private sale, with opportunities detailed in the company’s pitch deck. The team comprises seasoned professionals, including CEO Fab, BD lead Tommy, Engineer Pablito, and Socials & BD specialist Jerry, with advisory support from Charlie Hu, founder of Bitlayer and former head of Polygon China.
For more information, visit www.bitquity.org or contact the BITQUITY team directly.
About BITQUITY
BITQUITY is a pioneering decentralized finance platform built on the Bitlayer ecosystem, dedicated to enhancing the utility of Bitcoin holdings. By offering innovative financial solutions such as the Bitcoin Backed Dollar (BBD) stablecoin, zero-interest borrowing, and staking opportunities, BITQUITY empowers users to maximize their assets’ potential securely and efficiently.
Media Contact:
Company: Bitquity
Contact: Media team
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