Portal (IOU)

Portal

Bitcoin

Lumerin, a trailblazer in the decentralized hashpower marketplace, has joined forces with Portal DEX to usher in a new era of decentralized Bitcoin mining and cross-chain hashpower trading. This partnership is set to redefine the landscape of Bitcoin mining by introducing a platform that not only facilitates peer-to-peer, decentralized hashrate trading but also enhances the liquidity and accessibility of Bitcoin hashrate as a tradable asset.
Built on the Arbitrum network, Lumerin's innovative technology transforms Bitcoin hashrate into a liquid asset, empowering global access to decentralized hashrate trading. Portal, on the other hand, is renowned for pioneering the first trust minimized, cross-chain swaps platform that operates without the need for bridges, custody, or wrapping, leveraging Atomic Swaps technology to mitigate custodial risks inherent in the cryptocurrency space.
This integration with Portal's Swaps SDK heralds a new suite of solutions for the Bitcoin mining community, offering resilience against the uncertainties of regulatory changes, energy policies, inflation rates, and currency volatility. The upcoming Bitcoin Halving event on April 19, 2024, which will halve the reward for mining new blocks, underscores the critical need for such innovative solutions.
Portal DEX users will gain unprecedented access to the hashpower contracts market, enabling miners to secure a consistent income stream despite the volatile nature of cryptocurrency prices. The integration of Portal’s Layer 2 atomic swap technology into Lumerin’s marketplace facilitates seamless BTC for Lumerin tokens swaps and direct token trades from Ethereum’s Layer 2, streamlining transactions across different blockchains and eliminating the complexities of Layer 2 bridges.
The partnership also caters to the growing demand for privacy within the cryptocurrency industry by providing access to "virgin" Bitcoin – coins that have never been spent or transferred since their creation. This feature is particularly appealing to investors seeking pristine coins untouched by previous transactions, ensuring maximum privacy and freedom from historical associations.
Lumerin's vision extends to transforming hashpower contracts into NFTs, broadening their availability and fostering a secondary market where single-chain NFT contracts can be traded against various digital assets on multiple chains, including Bitcoin. Portal has already demonstrated the feasibility of cross-layer, cross-chain Layer 1 and Layer 2 swaps of NFTs on Bitcoin, setting the stage for a more interconnected and versatile digital asset ecosystem.

Lumerin Partners with Portal DEX for Revolutionary Decentralized Bitcoin Mining and Hashpower Trading

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