As a seasoned researcher with years of experience in the cryptocurrency space, I must admit that this partnership between Bitflow and Pontis is nothing short of revolutionary. Having seen countless projects come and go, it’s refreshing to see one that truly addresses the longstanding issues associated with Bitcoin transactions – scalability and affordability.
Bitflow and Pontis are thrilled to reveal the debut of an Automated Market Maker (AMM) for Bitcoin Runes on Stacks, a prominent Bitcoin Layer 2 platform.
This innovation offers a much-desired scaling approach for Runes, which are Bitcoin-linked tokens that have been constrained by slow transactions, expensive fees, the need for UTXO splitting beforehand, difficulties in getting listed on markets, and issues related to transaction sniping.
After the Stacks Nakamoto Upgrade, Bitflow facilitates swift and budget-friendly transactions through an intuitive interface. Unlike traditional marketplace listings, its liquidity pools employ Automated Market Maker (AMM) technology to deliver pricing for any trade volume based on supply and demand.
Dylan Floyd, one of the Co-Founders of Bitflow, stated, “Some individuals haven’t grasped this yet, but Bitcoin is enjoyable once more. Our Runes Automated Market Maker encourages greater interaction with Bitcoin, which benefits the network’s fee sustainability. In partnership with Pontis, we simplify the process for liquidity to move across a variety of innovative swap and earnings products.
Filip S, a key contributor at Pontis, shared that our goal is to build a secure and effortless connection between Runes and other metaprotocol assets using a group of reliable projects as operators for the nodes,” is one way of paraphrasing the original statement in natural and easy-to-read language.
He also added that through the partnership, Pontis is improving the experience for BTC traders, allowing them to easily interact with Runes via liquidity pools on Stacks. This is a key milestone in driving the adoption of Runes and shaping the future of Bitcoin’s evolution.
The participants are Asigna, Xverse, Hide, Liquidium, DeSpread, OrdinalsBot, Bridge, Bitflow, Hermetica, Coin, Bima, StackingDAO, Zest Network, Sats Capital, and Billy (Billion Dollar Cat).
The Rune AMM on Stacks adopts a pool system similar to Uniswap for enhanced liquidity, reduced price fluctuations, and swift asset pricing. With the Nakamoto upgrade, faster block confirmations and protection against transaction reversals make Stacks less noticeable in user interactions. This allows Bitflow to create a decentralized Bitcoin exchange (DEX) directly on Layer-1, with Stacks taking care of the transactions.
Jan Smejkal, as the Chief Strategy Officer at Xverse, conveyed his enthusiasm, noting that the Bitflow team is consistently progressing in the area of Bitcoin token trading, and collaborating with them to optimize the Runes trading journey utilizing both Layer 1 and Stacks.
On December 17, 2024, the cryptocurrency known as Runes (AMM) was introduced in tandem with sBTC. By integrating the Pontis Bridge into the Bitflow app, users now have the ability to transfer both Bitcoin and Runes onto the Stacks layer for swift trading at Nakamoto speed. At its debut, direct swaps between native Bitcoin and STX were enabled, while the sBTC-Runes liquidity pools will provide an additional 5% return on Bitcoin (BTC) for deposits of sBTC.
As a crypto investor, I’m excited about the launch of liquidity pools that will accommodate a range of popular tokens such as BILLION•DOLLAR•CAT, DOG•GO•TO•THE•MOON, LIQUIDIUM•TOKEN, BASED•INTERNET•PANDA, SHORT•THE•DOLLAR, PUPS•WORLD•PEACE, POOKA•CANNOT•BE•STOPPED, ROOOOOOOOOONS, and the innovative USDh – the first Bitcoin-backed synthetic dollar on Runes. This diverse selection promises an engaging and dynamic trading experience.
Expansion plans have been set for adding more BRC-20 tokens like $ORDI and native BTC assets such as $TRIO, among others, based on the needs of our community.
For enhanced safety and dependability, Bitflow routinely undergoes evaluations by leading Bitcoin Layer 2 auditing entities such as Coinfabrik, StrataLabs, and Clarity Alliance – firms that have also assessed Stacks Core and sBTC. Furthermore, Bitflow involves the community through a $100,000 bug bounty program on Immunefi.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- The Final ‘Gladiator II’ Trailer Has Arrived
- DC’s ‘Clayface’ Movie From Mike Flanagan Lands 2026 Release
- Solana L2 Sonic includes TikTok users in airdrop
- XRP price slips as RLUSD market cap hits $53m, liquidations rise
- Maluma Enters His Loverboy Era With New Single “Cosas Pendientes”
- Smino and Samara Cyn To Hit the Road on ‘Kountry Kousins’ Tour
- Ananya Panday claims ‘its tough being Bhidu’ after working with Jackie Shroff; find out why
- The Vampire Diaries Nina Dobrev Reunited With Co-Stars To Recreate Throwback Photo, And I’m Not The Only One Loving It
- Crypto VC funding roundup: Riot snags over $594m, BVNK raises $50m
2024-12-18 20:21