Bitlayer’s YBTC Token Enters Solana Ecosystem because the DeFi Venture Companions With Kamino Finance and Orca
Bitlayer, a bitcoin
DeFi infrastructure challenge, has partnered with Kamino Finance and Orca to convey its bitcoin-backed token, YBTC, to the Solana ecosystem.
This integration is meant to mix Bitlayer’s safety with Solana’s pace and scalability, aligning with Bitlayer’s aim of increasing the Bitcoin DeFi sector. It should present bitcoin holders with native BTC publicity and yield alternatives, mentioned Charlie Hu, co-founder of Bitlayer.
“By combining Bitlayer’s safety roots with Solana’s efficiency frontier by YBTC, we’re delivering what BTC holders demand: native Bitcoin publicity with yield alternatives. Kamino and Orca present the important liquidity rails to make this imaginative and prescient operational at scale,” Hu mentioned in a press launch shared with CoinDesk.
YBTC, pegged 1:1 with BTC, is central to Bitlayer’s BitVM bridge, which is designed for trust-minimized bitcoin transfers by eliminating centralized intermediaries. The token serves as a direct illustration of customers’ locked BTC inside the Bitlayer ecosystem, enabling seamless interoperability between Bitcoin and decentralized finance purposes.
By holding YBTC, Solana customers can maximize yields by Kamino’s institutional-grade earn vaults, which offer auto-compounding and optimized BTC-denominated returns, serving to belongings develop effortlessly.
Additionally they get pleasure from seamless buying and selling with Orca’s Concentrated Liquidity Market Maker (CLMM), which provides zero-slippage swaps between YBTC.B and different mainstream belongings, offering easy entry to Solana’s DeFi ecosystem.
Final however not least, customers keep full asset freedom, with the power to redeem native BTC at any time through environment friendly, frictionless cross-chain operations.
Bitlayer’s BitVM Bridge has already established partnerships with different networks, together with Sui, Base, and Cardano, to advance its ecosystem collaboration. To advertise early adoption, a limited-time incentive program for the mainnet beta is now underway, rewarding individuals with Bitlayer’s native token, BTR, for minting YBTC and using its cross-chain options.
Kamino Finance is a Solana-based DeFi protocol, providing automated and optimized concentrated liquidity administration for DEX market makers. Orca is a decentralized alternate constructed on Solana community.
