Bitcoin, future of DeFi? They raise $6.5 million for an idea worth gold

We no longer stop decentralized finance or venture capitalists eager for crazy returns: the startup Interlay has just announced a fundraising of $6.5 million. But Interlay does not present itself as yet another blockchain endowed with a new consensus supposed to revolutionize the world, while adorning itself with names more high-sounding than each other. No, the company specializes in interoperability, and its objective is very specific: to go beyond the simple multi-chain future to integrate Bitcoin as a new standard for this nascent DeFi.

Bitcoin, the new gold standard for DeFi?

As CoinTelegraph tells us, the startup Divider so just got up 6.5 million dollars. For this time, we find DFG Capital in the role of the capitalist throwing shovelfuls of banknotes at the fire, hoping to find a place in the sun of the new Challenge emerging.

Interlay therefore has one objective: integrating Bitcoin with DeFi, in particular those taking place on blockchains Ethereum and Peas. To do this, the company imagined issuing a new version of tokenized bitcoins, InterBTC. These tokenized bitcoins would be collateralized thanks to real bitcoins and would work in a relatively similar way to other already well-established versions, such as renBTC Where wBTC for example.

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A project that will still convulse those allergic to shitcoins

In detail, even if the latter is not yet fully known, these famous InterBTC would also be convertibles in other cryptocurrencies and in one stablecorner-house. This vision of DeFi will not surprise but will raise more than one questioning eyebrow : if the InterBTC are presented as assets collateralized by real BTC, but in fact the collateralization becomes more liquid and blurry integrating other assets, any user of the service should bear in mind that 1 InterBTC ≈ 1 BTC… Enough to leave a whole field of possible regrets in case incidents, of which the Challenge stay very customary.

Bitcoin, the future of DeFi?  Very clever who can say!

Supported by Web3 Foundation, Interlay says it wants to take advantage of this fundraising to expand to more and more markets, but also expand your team – for the moment composed of 15 people.

For the bitcoiners curious about DeFi, but refusing to touch the lesser shitcoin with a stick – even if it pays 500% APY – , remember that there remains the Atomic.Finance solution: initially developed on Ethereum and supported by Morgan Creek and ConsenSys, this tool finally designed on Bitcoin allows you to place your bitcoins in escrow within smart contracts (more precisely discreet log contracts) and recover a yield in bitcoin on these bitcoins, all on-chain and without intermediary.

The days go by and are therefore similar to the land of DeFi and cryptocurrencies: funds with too full pockets no longer know where to bet their money, and new players are taking advantage of this to try to carve out the lion’s share.

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