Oasys Blockchain has announced a strategic collaboration with Bifrost Network.
Oasys Blockchain is an open-source blockchain with a specialty in gaming. It aims to provide a quality blockchain gaming experience to users. On the other hand, Bifrost Network is a cross-chain Layer-1 platform that supports both EVM and non-EVM networks, designed to provide an enhanced infrastructure for decentralized applications.
Oasys Launches on Bifrost’s BTCFi
This partnership has enabled Oasys Blockchain to launch its gaming DEX platform on the BTCFi Boost, a Bitcoin DeFi service powered by Bifrost Network’s cross-chain technology.
This launch is not just another technological upgrade; it is a significant development that commits to unleashing advanced applications and interoperability of Oasys’ gaming network in the wider DeFi ecosystem.
The integration of Oasys’ gaming DEX within the BTCFi Boost network is a breakthrough for multiple reasons. In the past, the utility of Web3 gaming assets on the Bitcoin blockchain was lacking because of Bitcoin’s natural design, which gives more priority to decentralization and security than smart contract utility.
With its powerful cross-chain Layer-1 infrastructure, Bifrost Network addresses this problem by introducing a smart contract abstraction on top of Bitcoin, enabling more sophisticated utilities, including DeFi products operating on the network.
By introducing Oasys on BTCFi Boost, DeFi users can gain access to gaming products, including BTCUSD and OAS Savings on Oasys’ Gaming DEX linked to the security of the Bitcoin network.
This development substantially improves the capabilities of the Oasys Blockchain, which seeks to bring a virtual gaming product suite directly to DeFi users and Bitcoin holders.
This integration gives DeFi users the ability to borrow, lend, stake, and even utilize Oasys’ gaming tokens that are supported by Bitcoin’s security. The incorporation has enabled Oasys’ vision to become a reality, laying the foundation for an advanced and interoperable gaming network built on Bitcoin, the world’s biggest crypto asset.
The Meaning of This Alliance
To recognize the impact of this gaming DEX incorporation, it is crucial to understand the benefit that Bifrost’s BTCFi Boost offers.
BTCFi Boost, which is powered by Bifrost Network’s multi-chain infrastructure, is a powerful Bitcoin asset management service that connects Bitcoin with cross-chain networks. This decentralized application enables users to invest in and trade DeFi assets without selling their BTC holdings.
With BTCFI, people leveraging the DeFi landscape can now stake Bitcoin to mint Oasys’ BTCUSD and OAS Savings while enjoying up to 40% APY and maintaining exposure to BTC’s value.
These offerings show how Bifrost’s BTCFi revolutionizes Bitcoin’s application. The ability of BTCFi to utilize Bitcoin’s strong security while offering a versatile smart contract environment makes it a suitable network for a gaming DEX like Oasys.
