- Sushi and ZetaChain pioneer native BTC support, revolutionizing DeFi interoperability.
- Omnichain DEX simplifies Bitcoin swaps, enhancing connectivity across diverse blockchain networks.
- This partnership will streamline user experience using simplified cross-chain interactions.
In a groundbreaking move for the decentralized finance (DeFi) space, Sushi has joined forces with ZetaChain to introduce the first omnichain decentralized exchange (DEX) supporting native Bitcoin transactions. This collaboration marks a significant step towards enhancing interoperability and connectivity across various blockchain networks.
Sushi’s Omnichain DEX on ZetaChain eliminates the need for wrapping or bridging when swapping Bitcoin and other assets, offering a seamless and cost-effective solution. Head Chef Jared Grey expressed enthusiasm, stating, “It’s not only about the increased liquidity from Bitcoin; it’s about beginning a new chapter in DeFi, where we see more practical use cases of interoperability and enhanced connectivity.”
The partnership allows developers to leverage their existing Ethereum smart contracts on ZetaChain, creating truly interoperable applications with minimal changes. Lead Sushi Developer Jiro emphasized the streamlined integration process, anticipating new use cases for Sushi, including the introduction of SushiXSwap for cross-chain Bitcoin swaps across 30 different chains.
The native Bitcoin support on Omnichain dApps operates through the ZRC-20 token standard, enabling applications to transact native fungible tokens, including Bitcoin, on a single chain. This functionality opens up untapped liquidity on Bitcoin, historically isolated from the broader DeFi ecosystem.
The user experience is set to transform as Omnichain dApps simplify engagement with crypto assets. Users will experience one wallet for all cryptos, reducing concerns about gas assets, multiple wallets, and complex user interfaces. The streamlined process aims to minimize fees, gas costs, and slippage, providing users with a more efficient and user-friendly DeFi experience.
Sushi plans to release a DEX for basic swaps and liquidity provisioning on ZetaChain’s testnet in the near term, with beta-testing opportunities on the horizon. As a core launch partner for ZetaChain mainnet, Sushi will soon offer full support for Bitcoin interoperability.
