2 - 4 minute read
Dubai-based Unizen has announced a new strategic partnership with THORChain, a cross-chain liquidity protocol that facilitates the exchange of native digital assets on multiple blockchains including Bitcoin, Ethereum, BNB Chain, Avalanche, Bitcoin Cash, Litecoin, Dogecoin and Cosmos Hub. The integration of THORChain settlement layer will enable swaps between Ethereum (ETH) and Avalance C-chain (AVAX) to Bitcoin (BTC) and vice versa. The announcement has generated significant interest among traders looking for new opportunities in the decentralized finance (DeFi) space.
Unizen is a cutting-edge operating system for Web 3.0 applications that enables users to seamlessly, cost-efficiently and securely interact with all things Web 3.0. It is designed to provide a non-custodial, unified user experience for interacting with various Web 3.0 applications and assets, regardless of the underlying blockchain technology. Unizen uniquely solves the complexities, accessibility, costs and interoperability issues plaguing the DeFi space.
Martin Granstrom, CTO of Unison, praised THORChain’s refined solution, which has proven resilient against the trials of time and fluctuations in market conditions, facilitating decentralized liquidity for assets on non-programmable chains. He added that THORChain was the obvious selection for empowering trades on the Unizen trade platform involving Bitcoin, Litecoin, Dogecoin and additional cryptocurrencies. Gavin McDermott, CEO of Nine Realms, also praised the partnership, stating that Unizen is an excellent venue to offer cross-chain swaps powered by THORChain.
The DeFi space has been moving from centralized swap services to DeFi protocols. The goal is to bring the centralized exchange trading experience to users while maintaining the security of self-custody. Unizen already offers a best-in-class experience as a DEX aggregator, and the partnership with THORChain will help them expand their cross-chain routes with native Bitcoin and more.
The partnership between Unizen and THORChain offers significant opportunities for traders. The integration of THORChain settlement layer will enable swaps between Ethereum (ETH) and Avalance C-chain (AVAX) to Bitcoin (BTC) and vice versa. This will make it easier for traders to access liquidity across multiple blockchains, and opens up new trading opportunities.
The Bottom Line
Traders looking to take advantage of the partnership should be aware of the potential risks involved. Cryptocurrencies are a high-risk investment, and investors should do their due diligence before making any high-risk investments in any ICOS, blockchain startups or cryptocurrencies. The partnership between Unizen and THORChain is still in its early stages, and it remains to be seen how it will impact the future market moves.