Persistence One is excited to onboard B² Network, a leading BTC layer-2 solution, into its BTC interoperability solution. This marks a significant milestone, as B² Network becomes one of the Bitcoin-based layer-2 platforms integrated into the intents-based cross-chain BTC swapping solution.
Persistence One’s BTC interoperability platform allows BTC variants and derivatives from various BTC Layer-2s and sidechains to interact with each other seamlessly. This allows for cross-chain swaps without the need for a centralized exchange. The platform will not be limited to L2s, and will also integrate BTC variants including Coinbase Wrapped Bitcoin (cbBTC) and Binance Bitcoin (BTCB).
With B² Network being integrated into the interoperability solution, token holders can easily move B² BTC across multiple chains in the BTCfi world using the Persistence One intent-based swap solution.
What is B² Network?
Described as the most practical Bitcoin Layer 2 network, the B² Network is a fully EVM-compatible BTCfi platform that aims to increase the network’s scalability and versatility without sacrificing security.
As the first zero-knowledge proof rollup on the network, B² Network provides the opportunity for users to execute smart contracts for off-chain transactions to improve transaction efficiency and minimize cost.
Like Persistence One, the B² network believes that Bitcoin is evolving beyond payments and that the DeFi world is coming to the network through Bitcoin Season 2. As a result, the B² network provides the necessary infrastructure required to bring speed and programmability to the network.
The platform allows users to stake B² BTC in its Hive Protocol, enabling them to earn B² token rewards from B² Hub PoS. It also utilizes the staked BTC to share economic security with other PoS networks (including B²), providing additional rewards and security.
The project is backed by major industry players, including Hashkey Capital, OKX Ventures, and KuCoin Ventures. With over $500M in TVL and 1.9 million users, B² Network is proving to be a major innovator in the BTCfi world, making it the perfect fit for the Persistence One interoperability solution.
Bringing Increased Adoption to B² Network Through Cross-chain Interoperability
The integration of B² Network can provide a wide variety of enhancements and benefits to users on the platform, including the following:
- Enhanced UX
- Increased liquidity and engagement
- Accelerated growth and adoption
Cross-chain interoperability allows blockchains to transfer value across multiple blockchain networks, helping to reduce the siloed nature of the BTCfi world.
Despite the rising number of BTC variants, the lack of interoperability and fragmentation is stalling the growth in the BTCfi world. This fragmentation can make it difficult for users to move assets seamlessly between L2s. For instance, a user who is active on one Bitcoin Layer 2 network and sees a great opportunity in the B² Network might struggle to move their assets from their current Layer 2 environment to the B² Network chain in a secure and efficient manner.
Persistence One addresses this challenge by leveraging the power of intents to enable fast, secure, zero-slippage cross-chain swaps. By introducing cross-chain interoperability, B² Network can benefit by allowing its users to choose how they want to interact with BTCfi without being constrained to the assets on one specific network. We aim to increase the ease of access to opportunities in the ecosystem to bring more users to the BTCfi world.
Our solution offers a more efficient alternative to traditional bridging methods, providing significant benefits to the B² Network.
For example, integrating into the interoperability solution improves the overall user experience by making B² Network’s opportunities more attractive and accessible to users across the Bitcoin ecosystem.
The enhanced interoperability will also help facilitate smoother asset flow between Bitcoin Layer 2s and B² Network, driving greater liquidity and encouraging active user participation within the ecosystem. As a result of the increased liquidity, B² Network can offer a better DeFi experience, which will attract more users and liquidity, creating a flywheel effect for growth.
By simplifying and streamlining the user onboarding process, B² Network’s assets will experience accelerated growth and broader adoption within the BTCfi world as users will experience less friction when onboarding into the ecosystem.
What is Persistence One?
Persistence One is a Bitcoin-focused cross-chain swapping solution. Our platform will use a cross-chain intents-based solution, which allows users to specify the outcome of a particular swap while allowing the Solvers to choose their routes to make it happen. Essentially, it will enable users to specify the ‘what’ of a specific swap, such as the desired asset and quantity, while leaving the ‘how’ it is executed to the experts. Solvers can utilize unified liquidity across the entire market and take on the finality risk for users to provide incredibly fast swaps between chains with zero slippage.
To learn more about cross-chain intents, take a look at this blog.
Most importantly, Persistence One and its interoperability product will be secured by Bitcoin, leveraging the security-sharing infrastructure introduced by Babylon Labs.
As you can see, we’re very BTC-orientated, and our service for BTC builders will only integrate BTC-aligned or BTC-related assets. Our goal is to make it easier to move Bitcoin around in all its forms and help bring the BTCfi world closer together in a cohesive ecosystem to push the boundaries of what’s possible with BTCfi, and we welcome B² Network onboard as our first integration.
About Persistence One
Persistence One is building a Bitcoin interoperability solution to enable cross-chain BTC swaps across Bitcoin Layer 2s.
The rapid rollout of Bitcoin L2s and side chains has led to fragmentation, hurting BTCfi scalability. Using the power of intents, Persistence One will enable users to move assets across Bitcoin Layer 2s more efficiently than traditional bridging, offering fast, secure, zero-slippage cross-chain swaps.
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