Portal partner with Polygon to advance DeFi on Bitcoin

Portal partner with Polygon to advance DeFi on Bitcoin

Decentralized exchange, or DEX, and self-custody wallet platform, Portal, has announced a strategic partnership agreement with layer-2 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 principle 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-3 technology, Fabric enables the deployment of typical smart contract functionalities

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