DUBAI, UAE, July 12,
2024 /PRNewswire/ -- Bybit, the world's
second-largest web3 platform by trading volume, breaks down
barriers between Bitcoin and the Ethereum
Virtual Machine (EVM) ecosystems with its partnership of Ignition.
Supported by core contributors Mantle and Antalpha Prime, Ignition
is paving the way for a low-friction and interoperable future. It
extends Bitcoin's functionality beyond its traditional
role as a store of value and transforms it into a reliable asset
for cross-chain integrations and diverse yield opportunities.
Bybit Web3 Wallet will support FBTC, an omnichain
Bitcoin asset pegged 1:1 to BTC, introduced by
Ignition. This strategic collaboration empowers users to unlock the
full potential of Bitcoin within the thriving EVM
ecosystem, reflecting Bybit Web3's philosophy of openness,
simplicity, and equality.
"We are thrilled to partner with Ignition, which aligns with
Bybit's mission to provide users with innovative and seamless
DeFi solutions. By integrating Ignition and FBTC, we
are not only enhancing liquidity and interoperability but also
paving the way for a more inclusive and dynamic crypto
ecosystem," added MK Chin, Bybit Web3 Evangelist.
FBTC: Bridging the Divide between Bitcoin and
non-Bitcoin Ecosystems in Web3
Introduced by Ignition, FBTC is an omnichain
Bitcoin asset pegged 1:1 to BTC aimed at elevating
Bitcoin's accessibility and utility. As a secure,
decentralized, and composable liquid
Bitcoin asset with deep liquidity, $FBTC can be used
at scale and easily integrated into various yield enhancement
strategies like liquidity pooling, collateral, and staking.
Under Ignition, $FBTC's growth will be driven by a comprehensive
roadmap and strong developer support, ensuring its long-term
success and sustainable growth.
Bybit Web3: A Partnership for Enhanced DeFi and
User Opportunities
Bybit is at the forefront of adopting the Ignition ecosystem,
reinforcing Bybit's commitment to pioneering innovative solutions
for the crypto community. Bybit Web3 users will now
have access to a multitude of products and opportunities within the
burgeoning Ignition space.
This integration unlocks a range of benefits for users:
- Enhanced Liquidity: FBTC opens the door to increased
liquidity, allowing users to trade and invest in
Bitcoin with greater ease within the EVM
ecosystem.
- Diverse Yield Opportunities: Users can explore a variety of
attractive yield-generating strategies with FBTC, maximizing
the earning potential of their Bitcoin holdings.
- Seamless Interoperability: FBTC bridges the gap between
various blockchain networks, ensuring users can move their assets
freely and efficiently.
Coming Soon: Swap and Staking on FBTC
Bybit Web3 users can look forward to using their Bybit Web3
Wallet to swap and stake on FBTC in the later half of
July. For more information, please
visit: https://www.bybit.com/en/web3/home
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the
decentralized world, creating a simpler, open, and
equal ecosystem for everyone. We are committed to welcoming
builders, creators, and partners in the blockchain space, extending
an invitation to both crypto enthusiasts and the
curious, with a community of over 10 million wallet users, over 20
major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products
designed to make accessing, swapping, collecting and growing Web3
assets as open and simple as possible. Our wallets, marketplaces
and platforms are all backed by the security and expertise that
define Bybit as a top 3 global crypto exchange,
trusted by 33 million users globally.
Join the revolution now and open the door to your Web3 future
with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is the world's second-largest cryptocurrency
exchange by trading volume, serving over 33 million users.
Established in 2018, Bybit provides a professional platform where
crypto investors and traders can find an ultra-fast
matching engine, 24/7 customer service, and multilingual community
support. Bybit is a proud partner of Formula One's reigning
Constructors' and Drivers' champions: the Oracle Red Bull Racing
team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: media@bybit.com
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit's Communities and Social
Media
Discord | Facebook | Instagram | LinkedIn |
Reddit | Telegram | TikTok | X | Youtube
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bybit-web3-and-ignition-join-forces-to-bridge-the-gap-between-bitcoin-and-ethereum-302195700.html
SOURCE Bybit