SAN FRANCISCO, CA, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Portal, the leading Bitcoin interoperability protocol and noncustodial cross-chain decentralized exchange (DEX), is proud to announce a Portal to Bitcoin integration with Tari Protocol. With backing by Pantera, Canaan Partners, Blockchain Capital, Arrington Capital, Slow Ventures, CMT Digital, Multicoin, Trinity Ventures, and Redpoint, Tari Labs is a major contributor to the proof-of-work blockchain built for confidentiality and infinite scalability. The collaboration with Portal aims to enhance cross-chain trading capabilities on Bitcoin, multiply access to Tari-based assets, and unlock significant capital and user engagement from the Bitcoin ecosystem.
Enhancing Cross-Chain Trading
As part of the integration, Tari-based assets will be supported within Portal’s Bitcoin cross-chain AMM, built using custom Lightning channels for speed and scalability. BitScaler, the Bitcoin architecture behind Portal’s cross-chain “atomic swaps”, supports a trading environment across incompatible blockchains, free from pseudo-custodial solutions like bridges and wrappers. This integration introduces a new era of cross-chain flexibility:
Tari Assets on Portal DEX Network: Tari assets will be made available in the Portal DEX Network, allowing users to swap seamlessly with native BTC, Runes & Ordinals, Bitcoin L2 tokens, and assets on other chains, like ETH and ERC20s, Ethereum L2 assets, Solana tokens, and others, eliminating the risk and transaction cost associated with the cross-chain bridges of yesteryear.
Tari joins the Portal DEX Network ecosystem: With this integration, Tari-based assets will be available for swapping inside all the world’s dApps, wallets, DEXs & ecosystems that support Portal Swaps.
“Look, I may be a turtle, but I know a thing or two about cross-chain interoperability," said Soon the Turtle (Tari mascot). "You want it to be fast. You want it to be secure. And you want to retain custody of your coins. Am I right? These guys at Portal to Bitcoin are the real deal. The GOATs. And they have been working hard to create the ultimate funnel between Bitcoin and Tari Assets. Imagine being able to dance gracefully between Bitcoin and Tari. Put on your dancing shoes because Portal is making it happen!”
Enhanced interoperability for “the blockchain for developers and creators”
Tari is a layer 1 blockchain protocol built in Rust with an ingenious approach to scaling its on-chain user base to millions of people along with a native app distribution platform that gives developers access to every user. And now with Portal, Tari developers and creators can be assured of easy, native interoperability with other large blockchains without the added, costly step of wrapping.
Leverage Portal's Native Swap Functionality: Projects with Tari-based assets can enjoy seamless, in-app swap functionality provided by the Portal liquidity router. Tari will transcend the “siloed ecosystem” go-to-market problem with Day 1 compatibility beyond its own chain via 2-way access to Bitcoin and many other EVM chains.
Enable One-Click Access to Native BTC: Users can access native BTC with a single click, significantly broadening the scope of accessible assets.
“Enabling seamless cross-chain swaps for Tari-based assets is a significant step towards a future where DeFi is more accessible, efficient and interconnected but without the biggest risk that haunts this space, custodial risk,” said Dr. Chandra Duggirala, CEO & Co-Founder of Portal to Bitcoin. “Our collaboration represents our shared commitment to breaking down barriers in the crypto space, ensuring that DeFi's potential is fully unlocked for all,” he added.
About Portal to Bitcoin
Portal is the only custody-less interoperability protocol for Bitcoin. Portal enables fast, low-cost atomic swaps between native Bitcoin assets like BTC, Ordinals, and Runes, to L2s and other L1s. With Portal’s technical breakthroughs, there is no bridging or wrapping, ensuring user funds are always safe. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io, and many other prominent investors. For more information, visit https://portaltobitcoin.com, X (Twitter), Discord, Blog and Telegram
About Tari Labs
Tari Labs is an organization making contributions to the Tari protocol. Tari is a highly versatile blockchain protocol built in Rust. It is ultra-high performance, infinitely scalable, open source, and has a profound approach to building a massive on-chain user base. For more information, visit https://tari.com, X (Twitter), Discord and Blog.
NOTICE TO RESIDENTS OF THE UNITED STATES: TARI HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE U.S. OR TO U.S. PERSONS (AS SUCH TERM IS DEFINED IN RULE 902 AS PROMULGATED BY THE U.S. SECURITIES AND EXCHANGE COMMISSION) UNLESS IT IS REGISTERED UNDER SUCH ACT, OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT IS AVAILABLE.
Jon Lindsay Phillips
7049421557
PortalToBitcoin@phillcomm.global
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