OKX drops a 1:1 Bitcoin token called XBTC on Solana, SUI, and Aptos blockchain. This move is currently creating a considerable amount of talk in the Crypto community. Exchange has launched this Bitcoin Token Security Innovation, which provides full collateral while allowing participation in the ecosystem of Defi cross-chain solutions. The launch eliminates traditional barriers and provides low transaction fee crypto access across multiple Solana blockchain token environments.
Unlock defi cross-chain solutions with low fees and enhanced Bitcoin token security
1: Complete the Bitcoin Backing System
okx rates XBTC at $1 per bitcoin per detention account, which is different from most other types of Stablecoin projects. Anyone can independently check the availability of spares in this system by displaying a spare proof at any time. Unlike bank-operated, Defi’s cross-chain approach ensures that all users’ collateral is fully covered.
All Bitcoin Reserves are kept in wallets with multiple signatures and regular audits, ensuring that each coin is supported in one sanctuary. This strategy reduces the risk of other senders and gives Crypto users the opportunity to enjoy the low transaction costs of Defi activity on multiple blockchains.
Zerofeed Mint across multiple chains
Users can ment or redeem XBTC for free on okx thanks to Solana Blockchain Token support, which stands out in today’s market. When using your preferred blockchain, users usually pay a little less than a cent of gas. Now, thanks to the low trading fees Crypto has, those who only own a few bitcoins can enjoy what Defi has to offer.
Almost all Bitcoin products have applied a high cost to wrapping the coin, but the construction with OKX does not charge an additional fee. Bitcoin users have benefited from the security of Bitcoin tokens by participating in the Defi protocols on Solana, Sui and Aptos networks.
Defi utility without selling bitcoin
XBTC tokens serve as collateral for lending, liquidity provision, and agriculture throughout the supported chain. This defi cross-chain solution maintains Bitcoin exposure while generating additional returns, allowing users to participate in automated market makers, lending protocols and staking opportunities without having to sell the original Bitcoin Holdings.
Solana Blockchain Token Deployment provides access to proven and established Defi protocols, and the integration of SUI and APTOS opens the door to next-generation Defi applications with sophisticated functionality and efficiency. At the time of writing, these three chains offer some of the most promising defi ecosystems available.
Improved security and transparency
The Bitcoin Token Security Model adopts institutional custody standards with regular third-party audits, and OKX maintains insurance coverage for managed Bitcoin. This adds a layer of protection for users, but the low transaction fee crypto framework does not violate any security measures at all.
Proof of preliminary audits is conducted regularly and published to ensure transparency in the 1:1 backing system. This defi cross-chain solution provides the security bitcoin holders that security bitcoin holders expect while unlocking utility across multiple blockchain ecosystems.
OKX Drop 1:1 Bitcoin Token Initiative represents a major advancement in making Bitcoin more versatile now within DEFI. By combining zero-feemint, transparent collateral and multi-chain access, this Solana blockchain token integration alongside this SOI and APTOS deployment creates new opportunities for Bitcoin holders seeking to participate in Defi without sacrificing their core Bitcoin position.
