This is a great milestone for @union_build they just announced planning to be the first interop protocol to also have its BTC LST product. Here’s what it means: Union believe Most Bitcoin LSTs today are constrained by centralized custody, limited cross-chain support, and also minimal DeFi integration which as a result of that they struggle with adoption and sustainable yield generation, often relying on interop protocols like Union to unlock utility across ecosystems. Given their current role in transferring assets, including Bitcoin LSTs, they thought it wise to issue their own LST natively on their chain, with full control over its custody and distribution. unlike other interop providers without a chain, Union itself is a full Layer-1 backed by 128 validators. This makes them extremely nimble when it comes to expanding their use cases beyond just message passing / relaying. What’s the advantages to all this ? - Revenue for Union protocol / foundation -Union becoming a TVL provider to L1s - Union being the direct poc to LPs, liquid funds, HNWIs, miners -A product that even Bitcoin treasury companies can use to generate their BTC yield zkgm
Show original
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.