It is up to new projects to find innovative approaches to reinvigorate the DeFi niche, and BXTB is bringing innovation to DeFi.
The Covid pandemic, social unrest, and economic turmoil experienced by countries around the world have resulted in a loss of trust in fiat currencies and traditional finance.
This combination of factors has caused an increase in the popularity of blockchain technology and cryptocurrencies as people look for alternative saving and investment methods.
There is a specific niche that has taken the cryptocurrency world by storm over the last months: Decentralized Finance (DeFi).
This niche aims to create an alternative, decentralized, and digital financial ecosystem that doesn’t rely on the same pillars of traditional, and increasingly obsolete, traditional financial systems.
BXTB is Creating Yield Farming V2.0
BXTB is a dual blockchain and dual token platform developed and supported by the BXTB Foundation.
The goal of the platform is to create a high-throughput, high-liquidity, and yield-generating stablecoin that is suitable for enterprise use-cases.
By using the BXTB DeFi protocol, investors will be able to mine BXTB by using a Proof-of-capacity consensus algorithm, staking it by attaching USDT to receive both yBXTB and CHIPS as rewards, and earn yield by holding yBXTB.
New Ways to Use Blockchain
The protocol uses the CHIP token, a stablecoin that is intended for enterprise use cases and to be used by industries that require transactional tokens.
This includes growing sectors like Esports, gaming, and gambling, which have gained massive attention as different countries declared lockdowns that increased the demand for online entertainment.
CHIPS allows these industries to make use of digital assets without the need of owning collateral or having reserves of their own, as the stablecoin overcollateralizes over time.
The Problem With Current Stablecoins
At present, stablecoin projects are often focused on maintaining their pegs through…