The evolution of the DeFi (Decentralized Finance) ecosystem reaches a significant milestone with the partnership between Sushi and ZetaChain, two prominent names in the world of cryptocurrencies.
This collaboration marks a pivotal moment in facilitating the native exchange of Bitcoin (BTC) on the DeFi platform, eliminating the need for wrappers or bridges between multiple blockchains.
🍣 Sushi is expanding to @zetablockchain, the first EVM-compatible L1 blockchain that connects everything!
🪙 Native $BTC Swap
🚀 First Testnet deployment
⭐️ v2 & v3 AMM on Mainnet
🔗 Cross-chain Swap across 30 chains
Stay tuned for more updates!
— Sushi.com (@SushiSwap) November 16, 2023
Sushi, known for its decentralized exchange platform (DEX), is expanding its horizons into ZetaChain, a layer 1 blockchain that presents itself as a comprehensive bridge between various chains, from Ethereum to Bitcoin and beyond.
THIS PARTNERSHIP WILL ALLOW SUSHI USERS TO EXCHANGE NATIVE BTC ON AROUND 30 NETWORKS
ZetaChain stands out for its focus on Omnichain Smart Contracts and its token standard, ZRC-20, which enables developers to create native applications that operate with fungible tokens on a variety of interconnected chains.
This platform is presented as “the only blockchain you will ever need”, offering a more efficient and cost-effective way to transfer value between different networks.
The integration between Sushi and ZetaChain paves the way for users to trade BTC natively in DeFi. This revolutionary capability, without wrappers or bridges, is considered a significant advance for the industry.
Representatives of both platforms, including Jared Grey, Sushi’s head chef, and Jiro, the lead developer, expressed their enthusiasm for this partnership that will mark a before and after in the world of decentralized finance.
The collaboration between Sushi and ZetaChain will roll out in two key phases: first, with the launch of a decentralized exchange on the ZetaChain testnet, followed by the launch on the mainnet to expand interoperability functionality with Bitcoin and further expand the services offered.