Bitcoin, the world’s most trusted and decentralized cryptocurrency, now offers decentralized finance (“DeFi”) with the launch of RichSwap. Created by Omnity Network, RichSwap is designed to make Bitcoin trading faster, secure and easier for everyone.
What is RichSwap?
RichSwap is the first-ever platform ordering trades on Bitcoin directly without relying on bridges, custodians or off-chain software. This means that every order is secure, transparent and controlled entirely by the user.
For Bitcoiners this marks a significant leap forward. You no longer need to send your assets to a platform or worry about unverifiable risks. With RichSwap, everything happens directly on the blockchain and in your wallet.
How Does RichSwap Work?
Behind the scenes, RichSwap operates on a new toolkit called the Runes Exchange Environment (“REE”), also developed by Omnity Network. While the technical details are complex, here’s what you need to know:
- No Middlemen: build BTC orders fast, signed and verifiable with blockchain accounting
- Total Control: keep custody of your assets at all times, no need to deposit or withdraw
- Fast Transactions: up to 100x faster than traditional Bitcoin transactions
Why Does This Matter?
Until now, Bitcoin’s design has made it difficult to use in DeFi like lending or staking. RichSwap changes that by making orders easy and secure without third-party risk. Developers can now build tools and apps for any use case, enabling borrowing, lending, staking and more directly on the world’s most trusted blockchain.
A Tool for Developers and Innovators
RichSwap is more than just a trading platform; it’s an open-source blueprint for developers. Developers can use the same code on REE to share liquidity pools, copy/paste templates, and experiment with DeFi, all on Bitcoin. A public testnet for experimentation will be available late this month.
What’s Next?
This week Omnity also supported the launch of Odin Fun and Blockminer Fun with their tech, yielding two more candidates for REE DeFi tooling. Over 2000 tokens launched in 1 week and 50 succeeded through a bonded curve fundraise on Odin. More RichSwap-compatible projects are created daily, and they all utilize Omnity tech without knowing it. With $11m volume and $2.5m total value locked (“TVL”) Omnity’s stats look promising as they reach the one year anniversary. Their multichain bridge links Bitcoin to Solana, Ethereum, Doge, Osmosis, and 15+ other flagship blockchains.
Omnity Network’s vision goes beyond RichSwap. With the launch of the Runes Exchange Environment, they aim to redefine how Bitcoin is used, making it a cornerstone of Bitcoin DeFi. Multichain bridge development will continue alongside the development of REE.
For a deeper dive into the technology behind RichSwap and REE, check out the full technical press release here.
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