elastos

ChainCatcher news, according to CoinDesk, the Bitcoin DeFi protocol BeL2 developer Elastos has announced the launch of the BTC-backed stablecoin BTCD.Elastos marketing director Ahmed IJ stated that BTCD is backed by Bitcoin, with a collateral amount equivalent to 160%-200% of the value of BTCD. When the price of BTCD is above $1, holders will burn tokens to redeem BTC, leading to a decrease in supply and a downward price trend; if it falls below $1, users will deposit new BTC to mint BTCD and sell, causing an increase in supply and a price rebound.

ChainCatcher news, according to Coindesk, decentralized infrastructure provider Elastos has announced that it has raised $20 million from private investment firm Rollman Management, planning to expand its merged-mined ELA tokens into Bitcoin reserve assets.In addition, Elastos aims to expand its Bitcoin DeFi protocol BeL2 into a utility layer for the global original blockchain.

ChainCatcher news, according to Chainwire, the Web ecosystem provider Elastos announced that the L1 blockchain aggregator Particle Network has successfully integrated the Elastos Smart Chain (ESC) mainnet into its platform.It is reported that this integration allows users to interact with Elastos decentralized applications (dApps) using familiar Web2 login methods (such as Google accounts), simplifying the user onboarding process. Users do not need to manage cryptocurrency wallets, mnemonic phrases, or pay gas fees to participate in the Elastos ecosystem.

ChainCatcher news, according to CoinDesk, the blockchain network Elastos plans to launch the Bitcoin Layer2 network BeL2. BeL2 will allow for more complex Bitcoin transactions than the base Bitcoin blockchain, including smart contracts and irreversible digital protocols. Additionally, the network will allow users to directly stake their Bitcoin on the service, earning rewards when interacting with applications built on BeL2.