OKX Ventures announced a strategic investment in altcoin project Bitlayer. Bitlayer is working towards the adoption of Taproot and BitVM technologies. OKX predicts similar growth for Bitlayer as Runes and Ordinals.
OKX announces strategic partnership with BitLayer Labs
OKX Ventures, the venture arm of crypto exchange OKX, announced a strategic investment in Bitlayer. The first Bitcoin security equivalent based on BitVM is Layer 2. It is based on Bitlayer, Taproot and BitVM technologies. The project aims to scale the transaction capacity of the Bitcoin network with the Discreet Log Contract (DLC) framework to securely handle financial applications. Regarding the issue, OKX Ventures made the following statement:
Bitcoin has gained trust thanks to its development philosophy designed around decentralization, trustlessness, and pseudonymity to protect user privacy. OKX Ventures has specifically supported Bitcoin scaling through vertical, horizontal, inward and layered scaling in its past investment portfolios.
Altcoin Bitlayer continues to grow with its partnerships!
Bitlayer has pushed for the adoption of Taproot and BitVM technologies as it scales the transaction capacity of the Bitcoin network. The altcoin solves two main challenges in Bitcoin Layer 2. These are L1 authentication and a trusted bridge. Bitlayer Mainnet V1 has collected $179,600 in fees last month since its release. It also supported multiple bridges between Bitlayer and other Layer 1 Blockchains such as Bitcoin/EVM Blockchains.
Meanwhile, Bitlayer has partnered with multiple projects in the Bitcoin ecosystem and continues to grow. It recently reached a total value locked (TVL) of $94.55 million, up 41.8% since its launch. As you follow from Kriptokoin.com, the altcoin announced Bitlayer Lucky Helmet Minting on May 8.
OKX releases token listing process update
Leading crypto exchange OKX today provided more information about the token listing process. Thus, the exchange responded to feedback from customers and community members. People have expressed their disappointment following the recent listing of some high-risk tokens. OKX said the “main feedback it seeks to address is the time it takes for assets to be purchased, sold or traded in a user’s country of residence.”
The crypto exchange stated that all listings go through a thorough review process by the listing team. He also noted that he was subject to local laws. OKX predicts similar growth for Bitlayer, as do Runes and Ordinals. This equates to approximately $418 million in total fees, with more than 11.39 million active Bitcoin users interacting on the Bitcoin network.
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