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(Press release San Francisco, US, July 17, 2023)
doorA self-hosted wallet and true cross-chain Layer-2 DEX built on Bitcoin is thrilled to announce that LFG MarketOrdinal, a marketplace for NFTs and bitcoin-based BRC-20 tokens, has opted to integrate the Portal DEX protocol to offer users cross-chain trading of Ordinals and BRC-20 tokens. The integration of Portal DEX will make cross-chain transactions between bitcoin and other digital assets fast, secure and private.
With it, LFG users will be able to buy Ordinal NFT and BRC-20 tokens using assets from other chains, such as Ethereum, without bridges or custodians. Portal’s use of “cross-chain atomic swap” technology for payments in any NFT marketplace is a significant “first” in the NFT ecosystem.
“LFG has been looking for solutions that provide ETH and other NFT collectors with seamless access to ordinal trading, and we found Portal to be the best solution available. So it makes perfect sense to integrate DEX protocols into Portal,” said Jason Rosenstein, co-founder of LFG Markets.
According to the latest quarterly report, the creation of Ordinal inscriptions on the Bitcoin blockchain has increased Ordinals trading volume by more than $210 million. DappRadar, With the advantage of DEXes firm footing In the crypto industry, interest in NFTs over bitcoin is expected to increase in the future. According to Nansen, 4% of the US population has NFTs; But it was almost non-existent on bitcoin until the ordinals revolution in 2023.
Cross-chain solution to bring a much larger non-bitcoin NFT audience from the blockchain space to access bitcoin ordinals with security and trust-minimization, to truly establish ordinals as a value layer for data and information Is required. Whether eth NFT fans or Solana NFT fans, not all chains still have the ability to exchange their treasured NFTs in a trust-minimum manner. “Bridge” solutions and wrappers are cumbersome, often custodial, and highly vulnerable to security threats.
The “cross-chain atomic swap” functionality of the portal being built into LFG Markets and other DEXs allows stablecoin payments – which today only exist on EVM-compatible chains – to bitcoin BRC-20 and seamless access to ordinal purchases.
While LFG Markets currently only accepts payments in BTC, other tokens such as ETH, USDC, USDT, and even tokens on Layer 2 EVMs such as Arbitrum and others will be accepted once the portal integrates the DEX protocol. Since Portal’s atomic swaps operate at Layer 2 without bridging, it is the most secure and least expensive way to conduct cross-chain transactions. The portal is working on supporting as many compatible blockchain, wallet and DeFi apps as possible.
Chandra Duggirala, CEO of the portal, said, “Based on our research, we know that marketplaces and DEX operators value UX and liquidity. We have worked tirelessly to ensure that our infrastructure integrates smoothly with their existing setup, thereby minimizing engineering overhead, while cross-chain liquidity aggregation allows them to increase volume and provide more assets and value to their users. It helps to provide facilities.
Portal believes that blockchains are “specialized” and that each chain is optimized to do one thing at the cost of other tradeoffs. Bitcoin is designed with the aim of creating a strong, peer-to-peer money with superior censorship resistance. On the other hand, Ethereum was designed for composable utility. By enabling seamless swapping of assets between incompatible chains, the portal helps aggregate liquidity across multiple chains, eliminating the problem of fragmentation and enabling marketplaces such as LFG and others to grow their user base and value proposition. helps.
About LFG Market
LFG’s mission is to create a platform that simplifies and enhances the trading process for Ordinals and BRC-20 tokens. LFG is a seamless and efficient trading environment that enriches the digital asset ecosystem and facilitates innovative financial interactions on top of bitcoin.
About Portal
The portal is building cross-chain DEX protocols and ecosystem tools to help DEXes and users own, exchange and contract across blockchains while minimizing custodial risk. With Portal, DeFi has become a service that anyone can provide while maintaining anonymity in an open, transparent marketplace with a strong security model like bitcoin mining.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
(Press release San Francisco, US, July 17, 2023)
doorA self-hosted wallet and true cross-chain Layer-2 DEX built on Bitcoin is thrilled to announce that LFG MarketOrdinal, a marketplace for NFTs and bitcoin-based BRC-20 tokens, has opted to integrate the Portal DEX protocol to offer users cross-chain trading of Ordinals and BRC-20 tokens. The integration of Portal DEX will make cross-chain transactions between bitcoin and other digital assets fast, secure and private.
With it, LFG users will be able to buy Ordinal NFT and BRC-20 tokens using assets from other chains, such as Ethereum, without bridges or custodians. Portal’s use of “cross-chain atomic swap” technology for payments in any NFT marketplace is a significant “first” in the NFT ecosystem.
“LFG has been looking for solutions that provide ETH and other NFT collectors with seamless access to ordinal trading, and we found Portal to be the best solution available. So it makes perfect sense to integrate DEX protocols into Portal,” said Jason Rosenstein, co-founder of LFG Markets.
According to the latest quarterly report, the creation of Ordinal inscriptions on the Bitcoin blockchain has increased Ordinals trading volume by more than $210 million. DappRadar, With the advantage of DEXes firm footing In the crypto industry, interest in NFTs over bitcoin is expected to increase in the future. According to Nansen, 4% of the US population has NFTs; But it was almost non-existent on bitcoin until the ordinals revolution in 2023.
Cross-chain solution to bring a much larger non-bitcoin NFT audience from the blockchain space to access bitcoin ordinals with security and trust-minimization, to truly establish ordinals as a value layer for data and information Is required. Whether eth NFT fans or Solana NFT fans, not all chains still have the ability to exchange their treasured NFTs in a trust-minimum manner. “Bridge” solutions and wrappers are cumbersome, often custodial, and highly vulnerable to security threats.
The “cross-chain atomic swap” functionality of the portal being built into LFG Markets and other DEXs allows stablecoin payments – which today only exist on EVM-compatible chains – to bitcoin BRC-20 and seamless access to ordinal purchases.
While LFG Markets currently only accepts payments in BTC, other tokens such as ETH, USDC, USDT, and even tokens on Layer 2 EVMs such as Arbitrum and others will be accepted once the portal integrates the DEX protocol. Since Portal’s atomic swaps operate at Layer 2 without bridging, it is the most secure and least expensive way to conduct cross-chain transactions. The portal is working on supporting as many compatible blockchain, wallet and DeFi apps as possible.
Chandra Duggirala, CEO of the portal, said, “Based on our research, we know that marketplaces and DEX operators value UX and liquidity. We have worked tirelessly to ensure that our infrastructure integrates smoothly with their existing setup, thereby minimizing engineering overhead, while cross-chain liquidity aggregation allows them to increase volume and provide more assets and value to their users. It helps to provide facilities.
Portal believes that blockchains are “specialized” and that each chain is optimized to do one thing at the cost of other tradeoffs. Bitcoin is designed with the aim of creating a strong, peer-to-peer money with superior censorship resistance. On the other hand, Ethereum was designed for composable utility. By enabling seamless swapping of assets between incompatible chains, the portal helps aggregate liquidity across multiple chains, eliminating the problem of fragmentation and enabling marketplaces such as LFG and others to grow their user base and value proposition. helps.
About LFG Market
LFG’s mission is to create a platform that simplifies and enhances the trading process for Ordinals and BRC-20 tokens. LFG is a seamless and efficient trading environment that enriches the digital asset ecosystem and facilitates innovative financial interactions on top of bitcoin.
About Portal
The portal is building cross-chain DEX protocols and ecosystem tools to help DEXes and users own, exchange and contract across blockchains while minimizing custodial risk. With Portal, DeFi has become a service that anyone can provide while maintaining anonymity in an open, transparent marketplace with a strong security model like bitcoin mining.
Binance Free $100 (Exclusive): Use this link to register and get $100 free and 10% off fees on Binance Futures for the first month. (terms).
PrimeXBT SPECIAL OFFER: Use this link to register and enter the code CRYPTOPOTATO50 to receive up to $7,000 on your deposit.
