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Bitflow, a decentralized exchange ( DEX ), and Pontis, a decentralized finance ( DeFi ) platform, have introduced the first-ever Bitcoin Runes Automated Market Maker (AMM) on Stacks, a Bitcoin ( BTC ) Layer-2 ( L2 ) scaling solution, as reported to Finbold on Wednesday, December 18. The launch illustrates new applications of Runes, fungible BTC tokens traditionally known for slow transaction speeds, high fees, and sniping. As part of the initiative, Bitflow prioritizes security with audits from Coinfabrik and Clarity Alliance and offers a $100,000 Immunefi bounty program to promote community engagement. https://twitter.com/Bitflow_Finance/status/1855028595242287432 More speed and security in Bitcoin DeFi Activated at Bitcoin Block #867,867, the recent Stacks Nakamoto upgrade reduced Stacks’ block times from 10 minutes to a few seconds while offering BTC-tier finality. The new system relies on just one Bitcoin block and one Stacks block (5–10 seconds) to finalize trades, a drastic contrast compared to 3–6 block confirmations often required by other BTC bridges. In addition, all Runes AMM transactions have become as secure and irreversible as Bitcoin itself. The Runes AMM relies on the Pontis Bridge, a federated multi-signature system supported by industry leaders like Xverse, Asigna, OrdinalsBot, and Liquidium. Filip S, Core Contributor at Pontis, commented on the interoperability ensured by the new decentralized model: “At Pontis, our mission is to create a secure and seamless bridging experience for Runes and other metaprotocol assets by harnessing a consortium of trusted projects as node operators. In partnership with Bitflow, we are enhancing the user experience for BTC traders, enabling them to interact with Runes through liquidity pools on Stacks effortlessly.” Runes AMM comes with a liquidity pool structure inspired by Uniswap. As such, it offers deep liquidity, minimal slippage, and instant price discovery for Bitcoin assets. Users can trade directly through wallets like Xverse and Leather without navigating marketplace listings or manual pricing. sBTC integration Having launched alongside sBTC, a non-custodial, programmable 1:1 BTC-backed asset, the Runes enable swaps between native BTC, STX, and Runes with additional incentives like a 5% BTC yield on sBTC deposits. The integration of the Pontis Bridge into Bitflow’s app will further streamline asset transfers and trading on Stacks. The platform will initially support popular Runes like BILLION•DOLLAR•CAT, DOG•GO•TO•THE•MOON, LIQUIDIUM•TOKEN, BASED•INTERNET•PANDA, SHORT•THE•DOLLAR, PUPS•WORLD•PEACE, POOKA•CANNOT•BE•STOPPED, ROOOOOOOOOONS, and USDh, the first Bitcoin-backed synthetic dollar on Runes. If the demand is high enough, additional BRC-20 tokens and native BTC assets like ORDI and TRIO will be added in the future. The post Bitflow and Pontis bring Bitcoin Runes Automated Market Maker to Stacks appeared first on Finbold .
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Silencio Network Secures an Additional $2.5 Million in Seed Funding to Scale the World’s Leading Noise Intelligence Platform
Wilmington, Delaware, December 18th, 2024, Chainwire Silencio Network, the world’s largest decentralized environmental intelligence platform, has successfully closed a $2.5 million Seed funding round, solidifying its position as the leading innovator in decentralized infrastructure. Led by Blockchange Ventures, this round brings together continued support from Borderless Capital and Master Ventures, alongside new strategic backers such Finbold
Germany’s Largest Bank Deutsche Bank to Launch an Ethereum Layer-2 for Financial Institutions
Deutsche Bank, the largest bank in Germany by total assets, is exploring the launch of an Ethereum layer-2 to address compliance issues for financial institutions. This is according to a report from Bloomberg today. Notably, the layer-2 network will especially be useful for mainstream financial institutions looking to get into blockchain but are hindered by compliance concerns. The Purpose of Project Dama 2Named Project Dama 2, the initiative seeks to improve transaction efficiency while ensuring stricter regulatory compliance for financial institutions.Public blockchains, such as Ethereum , hold great promise for asset tokenization and improving operational efficiency. However, they could present compliance challenges for regulated organizations, including risks of interacting with unauthorized or sanctioned entities. To address these issues, Deutsche Bank`s Layer-2 solution will connect with Ethereum and leverage ZKsync technology to enable more efficient and affordable transactions.Boon-Hiong Chan, who leads applied innovation for Deutsche Bank in the Asia-Pacific region, stated that the Layer-2 framework enables banks to design a tailored list of validators for processing digital asset transactions. Notably, this method improves compliance by ensuring only approved entities are involved in validation. Furthermore, the platform is designed to provide regulators with exclusive oversight abilities, allowing them to track fund movements when required.For context, Project Dama 2 is a component of the Monetary Authority of Singapore`s (MAS) Project Guardian, a program that brings together 24 leading financial institutions to explore blockchain-based asset tokenization. Centralization Risks?Deutsche Bank`s participation confirms its dedication to using blockchain for enhancing operations while adhering to stringent regulatory standards. The bank plans to release a minimum viable product of the platform next year, subject to regulatory approval.However, the project`s design, which includes curated validators and exclusive oversight rights for regulators, raises concerns among blockchain enthusiasts who value decentralization as a core principle. With the decision to hand over regulators "super admin rights" and limit transaction validation to approved entities, the initiative could undermine the open and permissionless nature of blockchain. Deutsche Bank Warming up to Crypto and BlockchainMeanwhile, this development is not Deutsche Bank`s first foray into blockchain and digital assets. In June 2024, the bank partnered with Austrian crypto broker Bitpanda to facilitate cryptocurrency transactions for its clients. This collaboration enabled Deutsche Bank customers in Germany to buy and sell cryptocurrencies through internal transfers, simplifying the investment process in digital assets. Furthermore, Deutsche Bank has been exploring crypto custody services. In May 2024, reports confirmed that the bank plans to offer digital asset custody solutions, aiming to provide secure storage for cryptocurrencies and other digital assets. Before this, last June, Deutsche Bank applied with Germany`s regulator Bafin to procure a digital asset custody license. Most recently, Deutsche Bank inked a partnership with leading exchange Crypto.com to help the platform bolster its banking support in the Asia Pacific (APAC) region. Finbold
