Neo and PumpBTC join hands to empower BTCFi in the Neo ecosystem
Neo and PumpBTC have united to usher in a new era of BTCFi innovation! This collaboration begins with the creation of native PumpBTC on Neo’s EVM-compatible sidechain, Neo X, paving the way for BTCFi in the Neo ecosystem.
Since its launch, Neo X has developed a robust infrastructure and is now ready to host assets and liquidity. The partnership with PumpBTC marks the start of a wave of mainstream assets joining Neo X.
With native PumpBTC issued on Neo X, users will gain access to:
- Staking Opportunities: Stake PumpBTC for attractive rewards.
- DeFi Services: Use PumpBTC as collateral for financial services within Neo X-based DeFi protocols.
- Liquidity Provision: Provide liquidity for trading pairs on Neo X’s DEXs.
A native PumpBTC streamlines interactions with other assets and dApps while reducing risks commonly associated with bridges, such as hacks or exploits. This collaboration enhances the asset diversity and functionality of Neo X, providing our users with more opportunities to engage in DeFi using Bitcoin-backed assets on a fair and efficient platform.
The technical integration is underway and will be followed by exciting marketing campaigns, such as PumpBTC staking on Neo X for points, NFTs, and even the option to re-stake points. These campaigns aim to attract users, boost on-chain activity, and enhance liquidity within the Neo X ecosystem.
An AMA session will be held soon to elaborate on the partnership and discuss our vision for the future.
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About Neo
Founded in 2014, Neo is an open-source, community-driven blockchain platform designed to welcome developers into the Smart Economy. By enabling developers to digitize and automate the management of assets through smart contracts, Neo is built to realize the optimized digital world of the future. As the most developer-friendly blockchain, Neo meets developers where they are by integrating seamlessly with the world’s most widely used languages and tools and providing the most feature-complete blockchain platform for building full-stack decentralized applications. With native support for powerful infrastructure including decentralized storage, oracles, and domain name service, Neo is the ideal foundation for developers to build the next generation Internet.
Neo X is Neo’s sidechain. With its MEV resistance and full compatibility with Ethereum tooling, Neo X excels in cross-chain scalability and DeFi applications through its use of the dBFT consensus mechanism and enveloped transactions.
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