Bitcoin Application Layer Citrea Launches Mainnet With DeFi Tools
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- Citrea has launched ctUSD, a Bitcoin-native stablecoin offered by MoonPay and made on M0’s open stablecoin infrastructure.
- Citrea has also launched a user dashboard that permits users to manage assets over the ecosystem, track activity, and look out for applications.
The application layer of Bitcoin, Citrea, has rolled out its mainnet, permitting lending, trading and settlement directly on the BTC network. On January 27, the rollout was publicised, indicating a step toward widening the use of BTC beyond long-term holding into on-chain financial activity.
Citrea places itself as an application layer made particularly for BYC capital markets. Layer 1 is made to keep liquidity adhering to BTC while permitting programmable applications safeguarded by the network only.
At rollout, the network launches cBTC, a Bitcoin-supported asset to be used across decentralised apps, and ctUSD, a native stablecoin aimed at backing on-chain liquidity. As per Citrea, cBTC leverages zero-knowledge proofs and BitVM-based confirmation to suppress dependency on custodians or multisignature trust setups.
Any trial at deceptive activity can be challenged on the Bitcoin mainnet, provided a minimum of one honest participant is present. This model is designed to offer a higher level of security than previous Bitcoin bridge designs.
Citrea’s Rollout
Along the side of these assets, the mainnet debuts of Citrea, having over 30 Bitcoin-ensured apps, comprising decentralised exchanges, liquidity tools, and early-stage lending and privacy-aimed services. Extra applications and structures that yield products are anticipated to launch in the coming weeks.
To back trading with settlement, Citrea has launched ctUSD, a Bitcoin-native stablecoin offered by MoonPay and made on M0’s open stablecoin infrastructure. The stablecoin can easily be accessed in the US, except in New York, and over 160 other countries and is designed with keeping institutional compliance in mind.
Adding more to this, Citrea has launched a user dashboard that permits users to manage assets over the ecosystem, track activity, and look out for applications. From the start, user actions on live applications are listed, with plans to widen dashboard features as a lot of tools come online.
Moving forward, Citrea mentions it aims to grow Bitcoin-denominated financial activity and has made incentives for miners more robust via surged network usage.
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Bitcoin Application Layer Citrea Launches Mainnet With DeFi Tools
Share:
- Citrea has launched ctUSD, a Bitcoin-native stablecoin offered by MoonPay and made on M0’s open stablecoin infrastructure.
- Citrea has also launched a user dashboard that permits users to manage assets over the ecosystem, track activity, and look out for applications.
The application layer of Bitcoin, Citrea, has rolled out its mainnet, permitting lending, trading and settlement directly on the BTC network. On January 27, the rollout was publicised, indicating a step toward widening the use of BTC beyond long-term holding into on-chain financial activity.
Citrea places itself as an application layer made particularly for BYC capital markets. Layer 1 is made to keep liquidity adhering to BTC while permitting programmable applications safeguarded by the network only.
At rollout, the network launches cBTC, a Bitcoin-supported asset to be used across decentralised apps, and ctUSD, a native stablecoin aimed at backing on-chain liquidity. As per Citrea, cBTC leverages zero-knowledge proofs and BitVM-based confirmation to suppress dependency on custodians or multisignature trust setups.
Any trial at deceptive activity can be challenged on the Bitcoin mainnet, provided a minimum of one honest participant is present. This model is designed to offer a higher level of security than previous Bitcoin bridge designs.
Citrea’s Rollout
Along the side of these assets, the mainnet debuts of Citrea, having over 30 Bitcoin-ensured apps, comprising decentralised exchanges, liquidity tools, and early-stage lending and privacy-aimed services. Extra applications and structures that yield products are anticipated to launch in the coming weeks.
To back trading with settlement, Citrea has launched ctUSD, a Bitcoin-native stablecoin offered by MoonPay and made on M0’s open stablecoin infrastructure. The stablecoin can easily be accessed in the US, except in New York, and over 160 other countries and is designed with keeping institutional compliance in mind.
Adding more to this, Citrea has launched a user dashboard that permits users to manage assets over the ecosystem, track activity, and look out for applications. From the start, user actions on live applications are listed, with plans to widen dashboard features as a lot of tools come online.
Moving forward, Citrea mentions it aims to grow Bitcoin-denominated financial activity and has made incentives for miners more robust via surged network usage.
Highlighted Crypto News Today:
SoftBank to Expand OpenAI Investment, Will AI Cryptos Respond?
In This News
Coins
$ 66.91K
-0.80%$ 0.00243
Share:
In This News
Coins
$ 66.91K
-0.80%$ 0.00243
Share:
Read More
Bitcoin Price Prediction: Abu Dhabi Gov Funds Buy $1 Billion in BTC – What Do They Know?