TeleportDAO announces decentralized WBTC to BTC exchange on TeleSwap

[PRESS RELEASE – Vancouver, Canada, August 30th, 2024]

Send DAO at this time introduced the launch of a brand new characteristic on its TeleSwap protocol that permits customers to seamlessly swap Wrapped Bitcoin (WBTC) for native Bitcoin (BTC) in a completely decentralized method. Amid the continuing dialogue surrounding the centralized nature of WBTC, this service addresses the rising demand for decentralized options.

TeleportDAO’s TeleSwap now permits customers to shortly and securely convert WBTC again to BTC with out counting on any centralized intermediaries. The alternate course of is streamlined, permitting customers to carry out conversions with only one click on and full the transaction inside three minutes. Moreover, the service has low working prices, making it accessible to a variety of customers.

The brand new WBTC to BTC swap characteristic on TeleSwap is supported by six blockchain networks, together with Ethereum, Polygon, Arbitrum, Optimism, BSquared, and BOB. This multi-network functionality gives customers with the flexibleness to alternate on their most well-liked blockchain whereas nonetheless benefiting from the safety and trustlessness offered by TeleportDAO gentle shopper bridging expertise.

By integrating this new characteristic, TeleportDAO is responding to rising considerations throughout the cryptocurrency neighborhood about centralized management of WBTC. The TeleSwap protocol gives a completely decentralized various, guaranteeing customers have higher management over their digital property. That is in keeping with TeleportDAO’s ongoing dedication to supporting decentralized finance (DeFi) by offering safe, clear and user-friendly options.

The WBTC to BTC alternate operate is now on-line on TeleSwap and may be accessed immediately via the TeleportDAO platform. This announcement marks an vital addition to TeleportDAO’s suite of decentralized instruments and providers, solidifying its place as a key participant in safe cross-chain software improvement.

About TeleportDAO

Send DAO It’s a trustless interoperability protocol that gives an infrastructure for builders to construct cross-chain purposes. By connecting on to the blockchain by way of a light-weight shopper bridge, TeleportDAO gives a safe and trust-minimized blockchain connection that doesn’t depend on third-party validators. The protocol helps a variety of blockchains, enabling the creation of modern decentralized purposes that may run throughout a number of networks. TeleportDAO is dedicated to cultivating a decentralized future the place each customers and builders can discover the infinite potentialities of blockchain expertise.

For extra info, customers can go to TeleportDAO’s website.