Curve DeFi protocol will add support for original BTC

This will happen thanks to integration with the ZetaChain L1 network

04.01.2024 - 08:26

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What’s new? Curve Finance DeFi protocol Curve will integrate Ethereum’s virtual machine-compatible Layer 1 (L1) blockchain ZetaChain, which is focused on developing interoperable decentralized applications (DApps). The partnership will allow Curve to add support for the original BTC for cross-chain swaps and the use of the asset in liquidity pools with coins from different networks.

Source: Twitter.com

What else is known? Zeta Chain blockchain with support for smart contracts simplifies the management of assets held on different networks. With the integration, Curve users will be able to create multi-chain liquidity pools based on Ethereum or ZetaChain and deposit tokens from wallets on any network, including bitcoin addresses.

Curve users will also be able to interact with these pools to perform cross-chain swaps. For example, original BTC from a bitcoin wallet can be exchanged for Ethereum blockchain native tokens.

ZetaChain notes that the partnership is aimed at increasing Curve’s interoperability, and will eventually increase the DeFi protocol’s trading volume, provide new collateral options for crvUSD issuance (including native BTC), and a seamless interface to interact with cryptocurrencies.

Developers expect user fees to be 2-10x lower compared to cross-chain protocols designed to transfer assets between networks. Curve is expected to launch on the ZetaChain mainnet in the near term.

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