Persistence One is proud to announce a partnership with Bitlayer to integrate its wrapped variant of BTC into the upcoming Persistence One interoperability solution.
Persistence One is on a mission to provide a venue that allows users to efficiently conduct cross-chain BTC swaps using the power of intents to reduce fragmentation amongst L2 BTC variants in the BTCfi world.
With an impressive TVL of over $680,000 million as of November 2024, Bitlayer is solidifying its position as one of the leading projects redefining the possibilities in BTCfi. As a leading L2 Bitcoin network innovating in the space with its BitVM architecture, Bitlayer’s expertise and innovative solutions make it a great addition to Persistence One’s interop solution.
What is Bitlayer?
Bitlayer is on a mission to make Bitcoin verifiable. It’s the first Bitcoin Layer 2 scaling solution built on BitVM, a Bitcoin Virtual Machine developed in 2023 by Robin Linus that brings Turing-complete Bitcoin contracts to the Bitcoin network.
Being built on BitVM means that Bitlayer comes with EVM compatibility, allowing Ethereum dApps to be seamlessly ported to the Bitcoin L2. In addition, as Bitlayer processes transactions off the main chain with zero-knowledge proofs, it can present a scalable opportunity for developers on Bitcoin while retaining the same security of the primary Bitcoin blockchain.
A significant component of the Bitlayer ecosystem is its trustless asset bridge that leverages Optimistic Discreet Log Contracts (OP-DLC) with BitVM. This feature supports asset transfer between Bitcoin and Bitlayer, ensuring users can interact with Layer-2 applications with complete peace of mind.
The Bitlayer ecosystem also houses OPVM, a product that provides the first Bitcoin verification layer. OPVM allows blockchains to inherit Bitcoin security with minimal engineering costs, allowing any ecosystem to strengthen its security using the power of the Bitcoin network.
With over $685 million TVL in just seven months, Bitlayer is proving itself as one of the leading BTCfi projects in the ecosystem, making it the perfect addition to Persistence One’s interoperability solution.
Why Integrate Bitlayer For Cross-Chain Interoperability?
Interoperability is an essential aspect of onboarding new users and growing any ecosystem. The lack of interoperability in the BTCfi world is slowing potential growth as users struggle to move the dozens of BTC variants between blockchains quickly.
This is the problem Persistence One’s interoperability solution intends to address.
Persistence One is on a mission to accelerate innovation and adoption within the BTCfi world. By making moving BTC variants between blockchains easier, we aim to help the ecosystem quickly reach its full potential.
Our cross-chain BTC interoperability solution is designed to improve the user experience for those looking to swap BTC variants between blockchains. It provides a single, user-friendly venue that connects multiple ecosystems, allowing users to easily swap any BTC variant from one blockchain into Bitlayer’s BTC variant with just a few clicks.
Without an interoperability solution that connects multiple ecosystems, users would be required to use various bridges and centralized exchanges to facilitate a cross-chain BTC swap, which would become very time-consuming and costly. Instead, the Persistence One interop solution would reduce the friction, attracting more users to Bitlayer and other L2s.
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. It will enable users to specify the ‘what’ of a specific swap, such as the desired asset and quantity, while leaving the ‘how’ for the experts to execute. 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 Bitlayer onboard!
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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