Sushi partners with ZetaChain for native Bitcoin DeFi swaps Sushi partners with ZetaChain for native Bitcoin DeFi swaps
DeFi platform Sushi has collaborated with interoperability platform ZetaChain to explore the possibility of native Bitcoin (BTC) swaps for its users across 30 different blockchain networks.
Sushi’s deployment of its decentralized exchange (DEX) on ZetaChain is touted to enable trading of BTC without wrapping across several blockchains in what the team describes as a “native, decentralized and permissionless manner.”
Exploring the Potential
The integration is set to include Sushi’s v2 and v3 automated market makers and Sushi’s cross-chain swap, SushiXSwap.
He added that ZetaChain’s approach effectively allows anyone to build Bitcoin-interoperable decentralized applications (DApps) that can settle contracts and transactions natively.
“Of course, there are trust assumptions, namely trusting the decentralization of the network that is doing this cross-chain transaction.”
Sushi’s integration with ZetaChain is set to take place in two phases. The first will see Sushi introduce a DEX on ZetaChain’s testnet to support basic asset swaps and liquidity provision. This phase is also set to include beta testing and incentives for application testing.
Sushi will become one of ZetaChain’s launch partners when it deploys its mainnet. The launch is expected to be followed by full functionality for Bitcoin interoperability.
A cross-chain swap contract is deployed on ZetaChain’s Ethereum Virtual Machine. The contract is omnichain, which means that while it’s deployed on ZetaChain, it can be called, and the value can be passed to it from any connected chain, including Bitcoin.
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