DUBAI, UAE, July 12, 2024 /PRNewswire/ -- Bybit, the world's
second-largest web3 platform by trading volume, breaks down
barriers between Bitcoin and the Ethereum Virtual Machine (EVM)
ecosystems with its partnership of Ignition. Supported by core
contributors Mantle and Antalpha Prime, Ignition is paving the way
for a low-friction and interoperable future. It extends Bitcoin's
functionality beyond its traditional role as a store of value and
transforms it into a reliable asset for cross-chain integrations
and diverse yield opportunities.
Bybit Web3 Wallet will support FBTC, an omnichain Bitcoin asset
pegged 1:1 to BTC, introduced by Ignition. This strategic
collaboration empowers users to unlock the full potential of
Bitcoin within the thriving EVM ecosystem, reflecting Bybit Web3's
philosophy of openness, simplicity, and equality.
"We are thrilled to partner with Ignition, which aligns with
Bybit's mission to provide users with innovative and seamless DeFi
solutions. By integrating Ignition and FBTC, we are not only
enhancing liquidity and interoperability but also paving the way
for a more inclusive and dynamic crypto ecosystem," added MK Chin,
Bybit Web3 Evangelist.
FBTC: Bridging the Divide between Bitcoin and non-Bitcoin
Ecosystems in Web3
Introduced by Ignition, FBTC is an omnichain Bitcoin asset
pegged 1:1 to BTC aimed at elevating Bitcoin's accessibility and
utility. As a secure, decentralized, and composable liquid Bitcoin
asset with deep liquidity, $FBTC can be used at scale and easily
integrated into various yield enhancement strategies like liquidity
pooling, collateral, and staking.
Under Ignition, $FBTC's growth will be driven by a comprehensive
roadmap and strong developer support, ensuring its long-term
success and sustainable growth.
Bybit Web3: A Partnership for Enhanced DeFi and User
Opportunities
Bybit is at the forefront of adopting the Ignition ecosystem,
reinforcing Bybit's commitment to pioneering innovative solutions
for the crypto community. Bybit Web3 users will now have access to
a multitude of products and opportunities within the burgeoning
Ignition space.
This integration unlocks a range of benefits for users:
- Enhanced Liquidity: FBTC opens the door to increased
liquidity, allowing users to trade and invest in Bitcoin with
greater ease within the EVM ecosystem.
- Diverse Yield Opportunities: Users can explore a variety of
attractive yield-generating strategies with FBTC, maximizing
the earning potential of their Bitcoin holdings.
- Seamless Interoperability: FBTC bridges the gap between
various blockchain networks, ensuring users can move their assets
freely and efficiently.
Coming Soon: Swap and Staking on FBTC
Bybit Web3 users can look forward to using their Bybit Web3
Wallet to swap and stake on FBTC in the later half of
July. For more information, please
visit: https://www.bybit.com/en/web3/home
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world,
creating a simpler, open, and equal ecosystem for everyone. We are
committed to welcoming builders, creators, and partners in the
blockchain space, extending an invitation to both crypto
enthusiasts and the curious, with a community of over 10 million
wallet users, over 20 major ecosystem partners, and
counting.
Bybit Web3 provides a comprehensive suite of Web3 products
designed to make accessing, swapping, collecting and growing Web3
assets as open and simple as possible. Our wallets, marketplaces
and platforms are all backed by the security and expertise that
define Bybit as a top 3 global crypto exchange, trusted by 33
million users globally.
Join the revolution now and open the door to your Web3 future
with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by
trading volume, serving over 33 million users. Established in 2018,
Bybit provides a professional platform where crypto investors and
traders can find an ultra-fast matching engine, 24/7 customer
service, and multilingual community support. Bybit is a proud
partner of Formula One's reigning Constructors' and Drivers'
champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit's Communities and Social
Media
Discord | Facebook | Instagram | LinkedIn |
Reddit | Telegram | TikTok | X | Youtube
Photo - https://mma.prnewswire.com/media/2459975/Image.jpg
Logo -
https://mma.prnewswire.com/media/2311075/Bybit_Web3_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/bybit-web3-and-ignition-join-forces-to-bridge-the-gap-between-bitcoin-and-ethereum-302195724.html
