Bitcoin Swaps
An overview of Bitcoin's role within BitFlow: Trade your native Bitcoin in a secure, transparent, and decentralized way, without custodial risk.
Last updated
An overview of Bitcoin's role within BitFlow: Trade your native Bitcoin in a secure, transparent, and decentralized way, without custodial risk.
Last updated
At the heart of BitFlow's mission is the seamless integration of Bitcoin assets, empowering productive and frictionless use of Bitcoin-wrapped or pegged assets. With BitFlow's StableSwap, the potential extends beyond stablecoins – xBTC, sBTC, and native Bitcoin assets are effortlessly incorporated into the BitFlow ecosystem as well.
To further enable Bitcoin DeFi, BitFlow is establishing itself as a supplier within the Magic Protocol. This integration will enable users to swap trustlessly between native Bitcoin and its wrapped or pegged versions on the Stacks layer.
Magic Protocol serves as a bridge between native Bitcoin and Wrapped Bitcoin (xBTC) on the Stacks layer. Historically, transferring Bitcoin across different layers or networks in a decentralized, trustless manner posed significant challenges. Most users turned to centralized platforms, such as exchanges and custodians, to harness their Bitcoin in DeFi ecosystems.
Magic Protocol addresses this gap, offering a decentralized and trustless mechanism to swap between native Bitcoin and xBTC on the Stacks layer. This is achieved through the use of atomic swaps.
On the Stacks layer, BitFlow seamlessly incorporates various wrapped and pegged versions of Bitcoin, including:
sBTC: sBTC is a 1:1 pegged representation of Bitcoin on the Stacks layer. sBTC operates under a fully decentralized framework, overseen by an open-membership group of signers.
xBTC: xBTC is a wrapped version of Bitcoin issued on the Stacks layer, which is backed 1:1 by Bitcoin held in a reserve. This solution is similar to that of Wrapped Bitcoin on the Ethereum network.
aBTC: aBTC, or ALEX BTC, is a fully-functional SIP010 token on Stacks, where 1 aBTC represents 1 BTC locked in the multisig operated by
BitFlow's StableSwap extends beyond stablecoins to include Bitcoin-wrapped and pegged assets, empowering Bitcoiners to earn, trade, and utilize their Bitcoin without dependence on central intermediaries. By facilitating effortless swaps for these Bitcoin-centric assets, BitFlow cements its role as a pivotal liquidity hub in the Bitcoin ecosystem.
BitFlow is on a mission to empower Bitcoiners by providing avenues to trade, earn, and secure real yields using native Bitcoin. Replacing traditional centralized intermediaries with decentralized liquidity pools and smart contracts, BitFlow enables Bitcoin to be put to work as a productive asset, all while maintaining its security and control. This seamless blend of Bitcoin and DeFi unveils a realm of opportunities, allowing users to unleash the complete potential of their digital holdings.