Place/Date: Zug, Switzerland - July 20th, 2022 at 3:12 pm UTC · 4 min read
Contact: Dan Edelstein, Source: MarketAcross
Today, tzBTC, a Tezos token, was listed on Bittrex Global, one of the most secure digital asset exchanges in the world. Three additional Tezos tokens, Sirius ($SIRS), Kolibri ($KUSD) and youves ($YOU) will also be listed shortly. Availability for trading of tzBTC will be on July 21, 2022, the other tokens will follow in the next weeks and will be announced via Bittrex Global official channels.
Bittrex Global continues to lead the digital asset industry as an innovative and secure provider and the integration of Tezos further supports its efforts to provide a best-in-class offering to users. Tezos, an energy-efficient blockchain, was one of the original Proof of Stake networks and is a leading choice for brands and institutions to power the Web3 revolution.
The Tezos tokens listed include Sirius ($SIRS), a token that lets you automatically participate in liquidity baking, a decentralized liquidity pool between tez and tzBTC incentivized at the protocol level. Liquidity baking is a novel approach to bootstrapping liquidity for a layer one protocol that leverages a Constant Product Market-Making contract (CPMM) between two assets – tez and tzBTC – another asset listed today by Bittrex Global. Each $SIRS token purchased on Bittrex Global represents participation in the liquidity pool between tez and tzBTC.
tzBTC delivers the power of Bitcoin as a token on the Tezos blockchain. The tzBTC token can be used in smart contracts and is part of the liquidity baking CPMM. The tzBTC system is maintained by a decentralized governance group of financial institutions such as Bitcoin Suisse, Hex Trust, Komainu, Sygnum, and more.
Oliver Linch, CEO of Bittrex Global, said:
“We’re excited that Bittrex Global users can now also hold their Bitcoin securely on Tezos through tzBTC. Token listings like tzBTC give the Bittrex Global community the opportunity to take advantage of Tezos’ low gas fees and also participate in Tezos Liquidity baking or DeFi, helping further the exciting growth of the Tezos blockchain.”
Mason Edwards, Chief Commercial Officer, Tezos Foundation commented:
“The Tezos blockchain continues to power secure and robust tools leveraged by developers and institutions across the globe. Bittrex Global’s integration of Tezos tokens is another step towards adoption of the Tezos ecosystem for new token use cases and liquidity in-flows.”
The Tezos ecosystem is a thriving community of builders and creators leveraging easy-to-use developer tools to build powerful applications for the ecosystem of decentralized applications. Tezos apps benefit from low-gas fees, cross-chain utility, efficient DEXs, bustling NFT platforms, and more.
As the digital asset industry continues to evolve, Bittrex Global remains one of the most secure digital asset exchanges in the world. Bittrex Global serves a range of global retail and institutional clients with access to over 500 tokens and a range of services. Bittrex Global is a key player in driving widespread adoption of secure and decentralized methods to building wealth.
Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow’s innovations without network disruptions today.
Bittrex Global, the most secure digital asset exchange in the world, serves both retail and institutional clients, globally. Committed to helping users build wealth, Bittrex Global facilitates the purchase and trade of over 500 tokens. Through its use of cutting-edge technology, advanced security protocols, and a sophisticated elastic multi-stage wallet strategy the company provides a high-level experience for professional and novice customers alike. Bittrex Global is a key player in driving widespread adoption of secure and decentralized methods to building wealth while remaining compliant and adhering to the wide array of regulatory measures across the globe.
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