Bitcoin

DeFi

Merlin Chain

OpenOcean

Decentralized exchange aggregator OpenOcean has expanded its services to Rootstock, a decentralized finance protocol built on Bitcoin.
<h2 class="wp-block-heading" id="why-is-this-important">Why is this important?</h2>
The integration introduces the first DEX aggregator to Rootstock, a smart contracts network on Bitcoin (<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) that offers compatibility with Ethereum (<a href="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>). OpenOcean and Rootstock announced the integration in a <a href="https://www.prnewswire.com/news-releases/rootstocks-first-dex-aggregator-launches-on-chain-introducing-openocean-302221023.html" target="_blank" rel="noopener noreferrer nofollow">press release</a> on Aug. 13.
Rootstock’s EVM-compatible platform allows OpenOcean users to tap into Ethereum’s crypto economic potential while benefiting from Bitcoin’s security.
“This expansion not only aligns with our mission to provide comprehensive, efficient, and user-friendly trading solutions across all of our supported blockchains but also empowers our users to utilize the trust of the Bitcoin network in a way that was not possible before,” Guy P., Rootstock head of growth, said.
OpenOcean offers its crypto trading services across more than 35 blockchains, integrating 99% of liquidity pools, including those from Uniswap (<a href="https://crypto.news/price/uniswap/" rel="noopener noreferrer nofollow">UNI</a>). The integration with Rootstock also enables full trading for top coins and trading pairs.
You might also like: <a href="https://crypto.news/ton-foundation-announces-trustless-bitcoin-bridge/" rel="noopener noreferrer nofollow"> TON Foundation announces trustless Bitcoin bridge </a>
<h2 class="wp-block-heading" id="growing-focus-on-bitcoin-defi">Growing focus on Bitcoin DeFi</h2>
Bitcoin’s ecosystem continues to experience significant growth as more users leverage their BTC holdings. In February, crypto venture capital firm Pantera Capital released a report <a href="https://crypto.news/defi-on-btc-blockchain-could-accumulate-225b-pantera-capital-says/" rel="noopener noreferrer nofollow">highlighting</a> the potential for a DeFi explosion on the flagship blockchain network.
According to analysts at the firm, Bitcoin-based decentralized applications represent an “untapped” half a trillion-dollar market.
In April, Stacks co-founder Muneeb Ali <a href="https://crypto.news/stacks-ali-believes-layer-2-will-drive-adoption-for-2nd-phase-of-bitcoin/" rel="noopener noreferrer nofollow">said</a> that BTC adoption could benefit greatly from the huge traction for Bitcoin layer 2 protocols. <a href="https://crypto.news/satoshi-protocol-raises-2m-to-expand-liquidity-for-bitcoin-holders/" rel="noopener noreferrer nofollow">Satoshi Protocol</a> and <a href="https://crypto.news/merlin-chain-brings-staking-opportunities-and-defi-access-to-bitcoin/" rel="noopener noreferrer nofollow">Merlin Chain</a> are some of the platforms that have launched projects aimed at enhancing Bitcoin’s DeFi ecosystem.
Read more: <a href="https://crypto.news/blockchain-developer-to-fork-brc-20-to-bring-defi-to-bitcoin/" rel="noopener noreferrer nofollow"> Blockchain developer to fork BRC-20 to bring defi to Bitcoin </a>

OpenOcean launches DEX aggregator on Bitcoin L2 Rootstock

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