The Decentralized Financing Protocol (DEFI) built on Bitcoin (more commonly known as “bob”) has unveiled a system that leaves bitcoin Holders pass their assets in decentralized trading applications in one click, the company announced on Tuesday.
“Bob Gateway” connects the native bitcoin to the “Omnichain Fungible Token” version of Layerzero (OFT) of BTC wrapped, an asset published by Bitgo. The integration extends to 11 blockchains, in particular Ethereum, Avalanche and Base, giving access to nearly 15,000 decentralized applications which can now support direct Bitcoin deposits.
So far, most of these blockchains did not have a simple way to connect to Bitcoin. Users often had to navigate in complex bridging processes, which brought both technical risks of friction and safety.
With Bob Gateway, they can move between BTC native and WBTC.oft in a single step, a change that could make strategies such as transactions or loop transactions more accessible to retail and institutional investors.
Make the liquidity of the food and the loop of the platforms, acting as the base of loans, loans and trading. This process allows users to gain significant passive income. Make these transactions easier with the native BTC – the most important and most reliable digital assets – would mobilize a massive capital basin, increasing the liquidity, security and overall maturity of the market.
More than $ 2.3 billion in WBTC.OFT have already been reduced to 67,000 transfers in Layerzero, companies said. By allowing direct inputs of the native BTC, the gateway could bring fresh liquidity on the DEFI markets which are based on the wrapped bitcoin like collateral or commercial pairs.
Alexei Zamyatin, co-founder of Bob, said that the update “makes WBTC.oft instantly accessible” between the chains taken care of, while Simon Baksys de Layerzero described the movement as the addition of the utility to “one of the most reliable assets in crypto”.
The deployment includes Ethereum, Avalanche, Base, Unichain, Soneium, Bera, Optimism, Sei, Sonic and Bob itself, covering a large part of the current DEFI landscape.
