SAN FRANCISCO, March 10, 2022 /PRNewswire/ — Okcoin, one of many world’s largest and fastest-growing cryptocurrency platforms, together with the Stacks Accelerator and Stacks Basis, at this time introduced the launch of the Bitcoin Odyssey, a year-long pledge amongst enterprise companies to deploy $165 million collectively into options for accelerating bitcoin adoption. The collaborating companies—which embrace Digital Forex Group, GSR, and White Star Capital, amongst others—will allocate capital and sources to tasks being constructed on Stacks, an open-source community for Bitcoin-based sensible contracts, in addition to the Bitcoin blockchain itself.
The Bitcoin Odyssey, co-chaired by Okcoin Head of Listings Alex Chizhik and Stacks Accelerator Associate Kyle Ellicott, is a response to each an inflow of investor curiosity in decentralized finance (DeFi) and new technological capabilities made potential by Stacks, which has seen a peak market capitalization of $3.7 billion for the reason that community’s mainnet launch in January 2021. As a Layer-1 community, Stacks runs in parallel with the Bitcoin blockchain and permits using BTC in decentralized lending, NFT buying, and different sensible contract purposes that have been beforehand solely suitable with ether and different different cryptocurrencies, often called altcoins.
“The Bitcoin Odyssey is recalibrating capital and sources again to the muse of cryptocurrency, and that begins with Bitcoin and Stacks,” mentioned Alex Chizhik, Head of Listings at Okcoin and Co-Chair of Bitcoin Odyssey. “Whereas the rise of NFTs and altcoins dominated public consideration in 2021, there’s nonetheless a number of work to be finished for digital property to be adopted globally in significant methods. As the one foreign money that’s actually decentralized, we consider bitcoin ought to stay on the epicenter of crypto adoption.”
Dubbing 2022 the “12 months of Bitcoin,” companions of the Bitcoin Odyssey are dedicated to increasing and bettering on a regular basis use of bitcoin because the web’s native foreign money. The collective brings collectively the highest names in crypto enterprise capital: A41 Ventures, Alumni Enterprise Group (AVG), Blockdream, Cosimo Ventures, DeSpread, Digital Forex Group, Edimus Capital, GBV Capital, Gossamer Capital, GSR, Nesho Enterprises, NOIA Capital, Stardust Ventures, Stacks Accelerator, Stacks Basis, Unmutable Ventures, Westridge Markets, White Star Capital.
“Final 12 months, we witnessed a record-setting quantity of enterprise capital invested all through web3, and now we’re watching that narrative transition in direction of together with the beginnings of DeFi on Bitcoin. To date, we have now seen self-repaying loans, borrowing and lending, yield-generating NFTs, and new protocols together with the maturing CityCoins protocol, all on Bitcoin,” mentioned Kyle Ellicott, Associate on the Stacks Accelerator and Co-Chair of Bitcoin Odyssey. “Bitcoin Odyssey goes to empower the following wave of founders and tasks constructing decentralized purposes on Bitcoin with the wanted progress capital and elevated liquidity required to on-ramp the following billion shoppers to the brand new digital-first world.”
The Bitcoin Odyssey will contemplate Bitcoin and Stacks-focused tasks with options throughout Web3, together with: the metaverse; play-to-earn (blockchain-based gaming); DeFi, NFTs, and DAOs; CityCoins and GovTech; and different areas. The chosen Odyssey tasks will obtain hands-on help from industry-leading organizations along with funding. Key areas of assist will embrace challenge scaling, authorized, sensible contract growth and audits, recruiting, market making, and extra.
To be taught extra in regards to the Bitcoin Odyssey, please go to okcoin.com/bitcoinodyssey.
Based in 2013, Okcoin is a US-headquartered cryptocurrency trade serving over 190+ international locations and territories. The platform permits retail and institutional buyers to buy 50+ digital property utilizing native currencies, with a mission to make crypto simple for everybody together with first-time patrons. Okcoin was the primary centralized trade to supply direct entry into decentralized finance (DeFi) with Earn, a software for incomes APY by decentralized lending, liquidity swimming pools, staking, and extra. As well as, Okcoin gives institutional buying and selling instruments and APIs to asset managers, enterprise capital and hedge funds, retail brokers, fee processors, and extra. Observe Okcoin on Twitter at @Okcoin and go to okcoin.com for extra data.
Stacks offers safe sensible contracts and apps for Bitcoin. The Stacks ecosystem is a set of unbiased entities, builders, and group members working to construct a user-owned web on Bitcoin. The Stacks blockchain extends the design of Bitcoin to allow safe apps and predictable Readability sensible contracts with out modifying Bitcoin itself, opening innovation on the community for the primary time. The Stacks cryptocurrency (STX) is used as gas for networking exercise and contract execution and may be locked by STX holders through ‘Stacking’ to earn Bitcoin (BTC) rewards for supporting blockchain consensus. Stacks cryptocurrency was provided to most of the people by the first-ever SEC certified token providing in US historical past.
Communications Supervisor, Okcoin
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