© Reuters.
LONDON – In a change of strategy, BendDAO has announced plans to venture into the space by integrating support for Bitcoin non-fungible tokens (NFTs) and adding wrapped Bitcoin (wBTC) to its your liquidity pool. The move is part of the platform’s broader efforts to enhance user experience and security, especially for NFT transactions.
To enhance security measures, BendDAO is implementing a third-party Bridge Protocol along with the Multi-Signature Wallet Bridge. These initiatives are designed to provide an additional layer of protection for users engaging in BTC-related activities on the platform.
The expansion into Bitcoin follows a recent lending crisis faced by BendDAO, where approximately 15,000 ETH was at stake. To deal with this challenge, the platform focuses on regaining user trust by significantly improving the user interface and adjusting key parameters in its system.
As part of its strategic roadmap, BendDAO has outlined key milestones. The company aims to complete enhancements to its V2 product by the end of the fourth quarter of 2023. After that, an officially updated V2 version boasting enhanced functionalities is expected to be released in Q2 2024. This updated version is expected to mark a significant upgrade from current offerings and in line with the latest market demands.
BendDAO’s pivot towards offering Bitcoin NFTs and wBTC in its liquidity strategy signifies a notable development at the growing intersection of decentralized finance (DeFi) and digital collections. digital. With these improvements, BendDAO is positioning itself to play a key role in the field of blockchain-based asset expansion.
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