The cryptocurrency exchange BTSE recently announced the launch of BTSE Dex 2.0, a new decentralized exchange that is set to shake up the crypto market. This upgrade introduces cross-compatibility for Ethereum Virtual Machine-based chains, opening up trading opportunities for over 50 perpetual futures on networks such as Base, Optimism, and Arbitrum.
One of the key features of BTSE Dex 2.0 is its integration with Orderly Network’s decentralized exchange protocol. This partnership allows BTSE Dex to access a pool of liquidity and enables cross-chain interoperability for decentralized order books. This move is expected to increase trading volume and provide traders with more options for executing their strategies.
To incentivize participation on the platform, BTSE Dex 2.0 is offering nearly $1 million in token rewards to users from both Orderly Network and BTSE Dex. These rewards will be distributed in USD Coin (USDC) through various rounds, providing users with an extra incentive to engage with the platform and explore its capabilities.
BTSE Dex is just one of the products offered by the BTSE Group, a global blockchain technology company. The exchange has already seen significant trading volume, with over $170 million traded through its perpetual contracts of Bitcoin, Ethereum, and Solana. This indicates a growing interest in decentralized trading platforms and suggests that BTSE Dex 2.0 could see rapid adoption in the coming months.
According to Orderly Network COO Arjun Aroro, BTSE’s commitment to fostering innovation in the crypto ecosystem is unmatched. By partnering with Orderly Network and leveraging its NEAR instance, BTSE Dex aims to deliver a truly integrated DeFi landscape. This move not only caters to users who prefer the autonomy of DeFi but also demonstrates a faith in the Orderly-led team to bring this vision to life.
Orderly Network serves as a permissionless liquidity layer for decentralized exchanges, offering yield vaults fixed at 20% APY for various cryptocurrencies. The total value locked using Orderly’s liquidity layer has already surpassed $22 million, marking a 330% year-to-date rise. This growth showcases the increasing demand for decentralized finance solutions and further solidifies BTSE’s position at the forefront of innovation in the DeFi space.
The launch of BTSE Dex 2.0 represents a significant milestone in the development of decentralized trading platforms. By leveraging cross-compatibility, enhanced liquidity, and incentivized rewards, BTSE Dex is poised to attract a new wave of traders and investors looking to capitalize on the growing DeFi market. As the crypto ecosystem continues to evolve, platforms like BTSE Dex are paving the way for a more accessible and decentralized future for finance.
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