Avalon Finance, a prominent platform in the world of Bitcoin DeFi, has announced a significant new development. The company is partnering with Core DAO, a blockchain powered by Bitcoin that is compatible with the Ethereum Virtual Machine (EVM), to enhance the Bitcoin DeFi ecosystem. Core DAO made the announcement of this integration on its official X account.
Avalon Finance’s Integration with Core DAO Aims to Expand Bitcoin DeFi
In addition to the announcement, Avalon Finance shared a blog post on social media to provide more details about the integration. The post highlighted that Avalon Finance functions as a decentralized protocol and that the partnership with Core DAO aims to expand Bitcoin DeFi by combining the strengths of both platforms. By leveraging Avalon Finance’s innovative financial solutions and Core’s robust blockchain infrastructure, the initiative seeks to create a more comprehensive and efficient Bitcoin lending platform.
The company’s goal is to establish the largest Bitcoin lending platform in the ecosystem, attracting a wide range of users to decentralized finance. With a cross-chain lending platform and over $300 million in total value locked from over 20,000 clients, Avalon Finance offers three key features to enhance user experience and functionality.
The Development Enhances Security, Liquidity, Yield Opportunities, and Capital Efficiency
One of these features is overcollateralized lending, which includes a diverse range of assets in an isolation pool to provide collateral. The platform also offers a lending-based algorithmic stablecoin that improves capital efficiency for users. Additionally, Avalon Finance provides RWA lending for both permissionless and permissioned real-world assets, aiming to maximize yield farming and capital efficiency.
The integration with Core DAO allows Avalon Finance to enhance the Bitcoin DeFi ecosystem with four key improvements. It increases security through Core’s consensus mechanism “Satoshi Plus” and facilitates seamless integration of Bitcoin into DeFi products. The EVM compatibility of Core enhances accessibility, while providing ample liquidity and opportunities for users to earn yields.
Tags: BTC, DeFi