In a groundbreaking move to expand multi-chain offerings for a better user experience, Tap Protocol today announced the launch of decentralized perpetual trading on its Bitcoin-based DeFi platform. This network upgrade enables Tap Protocol users to trade multiple decentralized perpetual futures on its Bitcoin DeFi platform without giving up custody of their crypto assets.
Tap Protocol is a DeFi platform built on the Bitcoin blockchain, allowing users to utilize their BTC in various DeFi platforms. This innovative protocol enables users to trade, earn yield, and participate in different apps, allowing users to utilize their tokens in DeFi utilities, including locking assets in lending and borrowing marketplaces, yield farming, and many other decentralized finance activities.
Decentralized Perpetuals Now Available on Tap Protocol
With the network upgrade (revealed above), Tap Protocol expanded its market reach by enabling decentralized cross-chain perpetuals trading on its Bitcoin DeFi platform. Using this technological advancement, Tap Protocol customers can now trade a wide range of perpetual futures markets (associated with Bitcoin and many other crypto assets) on-chain with up to 100x leverage without giving up control of their crypto holdings.
The rollout of this feature allows seamless multi-chain trading of over multiple perpetual markets on Tap Protocol directly from other EVM blockchains, beginning with Bitcoin. Thanks to Tap Protocol’s cross-chain infrastructure, users can now deposit crypto assets from several other chains directly into their perpetual trading account without leaving the DeFi platform.
Building DeFi Applications on Bitcoin
With the debut of this new offering, Tap Protocol has taken a crucial step to provide users with access to trading of decentralized perpetual markets across chains, removing the complexity of asset bridging or utilizing separate DeFi interfaces.
With the network upgrade, Tap Protocol continues to build its platform to function as a comprehensive DeFi hub. The platform is not just for Bitcoin users; various crypto participants leverage Tap Protocol for financial growth, as they can swap assets across chains, provide liquidity and earn yields, make real-world transactions through the Bitcoin DeFi platform, and now trade perpetual futures without giving up control of their assets or navigating numerous apps. The launch showcases Tap Protocol’s aim: to remove friction for customers and unite the best of DeFi trading in one seamless and user-friendly platform.
