Singapore, Singapore, September 18, 2024, Chainwire
MatrixPort, a leading digital asset financial services platform, and exSat, a revolutionary Bitcoin scalability solution, have entered into a comprehensive strategic partnership. Leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem, ushering in a new era in Bitcoin development.
MatrixPort, a global one-stop digital asset financial services platform, brings extensive industry experience, robust technology, and a large user base to provide secure, convenient, and efficient digital asset trading and wealth management services. exSat Network focuses on developing unique scalability solutions for Bitcoin. With the unique On-Chain UTXO data index, 1-second instant transaction confirmation, and secure asset custody solutions, it provides the Bitcoin network with more powerful scalability, functionality, and interoperability, enabling new Bitcoin application scenarios.
This powerful collaboration is a win-win situation and brings multiple benefits to the Bitcoin ecosystem. MatrixPort’s expertise and user base will support exSat’s rapid development, while exSat’s innovative technology will provide MatrixPort users with more investment options and a superior experience. Together, they are committed to driving Bitcoin adoption and utility, revitalizing the Bitcoin ecosystem, and creating more value for users around the world.
This strategic partnership will focus on the following key areas:
Unlocking Bitcoin Liquidity: Ushering in a New Era of BTCFi
Matrixport will provide nBTC on the exSat platform, a new Wrapped BTC version of the product anchored 1:1 with Bitcoin. They plan to provide 5,000 to 10,000 nBTC on the exSat mainnet to increase liquidity and support exSat’s PoW+PoS consensus mechanism.
The nBTC issuance will become a bridge connecting Bitcoin and the exSat ecosystem, enabling seamless interoperability. Users can convert native BTC to nBTC via MatrixPort and use it on exSat for various BTCFi applications such as staking, lending, and trading.
The issuance of nBTC has important implications in a context where 94% of Bitcoin has already been mined:
- Unlocking Bitcoin Liquidity:Bringing dormant Bitcoin assets into the DeFi space and injecting liquidity into the exSat platform.
- Expanding Bitcoin Application Scenarios:Using exSat as a bridge to open up broader application scenarios for Bitcoin.
- Improving the Bitcoin User Experience:Leveraging the efficiency of exSat, providing Bitcoin users with more convenient, faster and more cost-effective transaction and wealth management services, promoting the popularization and utility of Bitcoin.
Fostering innovation and expanding the exSat core network ecosystem
MatrixPort will focus on vigorously developing innovative applications and dApp services on the exSat platform, co-creating a more open, diverse and thriving Bitcoin ecosystem.
Key areas of focus include:
- BTCFi Applications on Chain:Support the development of nBTC staking, trading and lending applications on the exSat chain, providing users with more diversified financial services and investment options while improving the liquidity of on-chain assets.
- Real World Assets (RWA):Facilitate the tokenization of real-world assets, such as renewable energy assets, on the exSat platform, by combining Bitcoin digital assets with RWA to unlock new liquidity and value.
- Cross-chain interoperability:Connecting exSat to the BTC ecosystem and promoting broader distribution of value.
This strategic collaboration will provide ecosystem developers with comprehensive support, including technical consulting, marketing, and more, helping them realize their innovative ideas and promote the prosperity of the exSat ecosystem. Together, MatrixPort and exSat will create more value for Bitcoin ecosystem participants, preserving and valuing digital assets and ensuring sustainable, decentralized, and secure growth for Bitcoin.
Creating a secure Bitcoin ecosystem to protect users’ assets
MatrixPort and exSat recognize that security is the cornerstone of the Bitcoin ecosystem development. They will collaborate strategically to build an unbreakable security defense on-chain, protecting users’ assets.
The partnership will integrate MatrixPort’s extensive security experience and exSat’s cutting-edge blockchain technology to enhance security in several areas:
- Application of multi-signature technology:The two parties will jointly explore and apply more decentralized multi-signature technology to provide users with more secure asset management solutions and ensure the security of users’ assets.
- Formulation of safety specifications:The two parties will jointly formulate and promote BTC asset security specifications and risk control systems, improve the security awareness and prevention capabilities of the entire ecosystem, and jointly maintain the security of users’ assets.
- Cooperation in security monitoring:exSat will use Matrixport’s rich security experience and resources to conduct comprehensive monitoring of the security risks of BTC assets issued on the exSat platform, identify potential risks and control risks in time, and ensure that the platform’s security meets the highest industry standards.
MatrixPort and exSat believe that a secure and reliable Bitcoin ecosystem is essential for users to confidently participate and benefit from the value and opportunities that Bitcoin offers. Together, they will continually improve security measures, protect user assets, and promote the healthy growth of the Bitcoin ecosystem.
About exSat
exSat is dedicated to addressing Bitcoin’s scalability and interoperability challenges. By implementing a data consensus extension protocol that combines Proof-of-Work (PoW) and Proof-of-Stake (PoS), exSat aims to improve BTC’s data consensus, scalability, security, and interoperability within the ecosystem. For more information, visit exsat.network and join exSat on X.
Contact
Marketing Director
Tristan Dickinson
exSat
tristan.dickinson@exsat.org
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