Partner Updates

Bitfinity’s Blockchain Bash: Seventh Symphony of Solutions

Bitfinity's strategic partnerships with Rivera Money, BiHelix, Beyond, and Oooo Money propel Bitcoin into the realm of DeFi, gaming, and cross-chain interoperability. Discover how these alliances unlock Bitcoin's true potential and reshape the blockchain landscape.

Howdy partner! In today's partnership article we follow Blaze again, the curious otter that is set to connect more projects this week. We encounter a group of visionary projects that share his passion for unlocking Bitcoin's true potential. And instead of viewing them as competitors, we can shake hands in recognizing that there is more value in working together.

As each partnership brings a unique piece of the puzzle and contributes to a shared vision of growth, we are eager to celebrate these new partners. Let's take a look at the new partners of this week.

Bitfinity and Rivera Money🤝

Rivera - Transforming Concentrated Liquidity

Unlocking composablity for concentrated liquidity and making it accessible for market-makers and Web3 builders.

Transforming Concentrated Liquidity

Rivera Money is a protocol that innovates the decentralized exchange landscape with its permissionless liquidity management protocol - a protocol that efficiently manages concentrated positions and transforms them into DeFi-composable yield tokens through their Rivera ALM Vault.

Risk-Personalized Market-Making Vaults

Asset managers that look to provide added value can leverage self-custody vaults to build and customize powerful yield farming and structured products. They offer risk-personalized market-making vaults that optimize liquidity provisioning and fee generation across different market conditions. These include vaults for:

For Degens

Degens, or also aggressive investors, can benefit from the Market Adaptive Strategy - an approach that uses exotic ranges to capture maximum fees.

For Institutions

Institutional investors prefer the Steady Spread Strategy. This method employs distributed ranges with a focus on high volatility margins, aiming to minimize impermanent loss.

For Conservative Investors

Conservative investors can use the Stable Spread Strategy offered by Rivera Money. A strategy that focuses on market-making for pegged asset pairs and offers volatility protection in higher-risk markets. That is, stability over high returns.

Market-Neutral Farming Strategy

Rivera Money also offers a market-neutral farming strategy that involves taking simultaneous long and short positions in an asset to negate the impact of price movements on the portfolio.

Executing a market-neutral strategy is straightforward in theory, but several practical considerations must be managed. It is not as easy as it sounds because they need to consider:

Deviation from Neutrality: Over time, the compounded yield from the long position and the fees from the short position can cause deviations. Leverage can also introduce borrow interest and funding rates.
Risk of Liquidation: Using leverage in the short position increases the risk of liquidation during adverse price movements. High leverage can lead to significant liquidation risks and exposure to the underlying asset.
Compounding Inefficiency: Maximizing capital efficiency requires timely harvesting and reinvestment of rewards. Delays in harvesting can reduce capital efficiency, while too frequent compounding can erode earnings due to transaction fees.

Total Value Locked in Rivera

As of the latest update, the total value locked (TVL) in Rivera stands at $71,785.40. This figure represents the confidence and commitment of liquidity providers and investors in the platform's capabilities and future potential.

Rivera's Native Token - RIV

The native token RIV promises to bring governance and economic benefits to its Rivera community. This means early supporters of the Rivera ecosystem, including users and partners, are set to be rewarded with RIV tokens.

By locking $RIV, users can receive ve$RIV (voting-escrowed RIV), which grants them voting rights within the Rivera ecosystem. A mechanism that allows users to actively participate in decision-making processes but also ensures they receive a portion of the protocol’s revenue.

That being said, with this a notable liquidity protocol for Web3 builders and market-makers, Bitfinity shakes their hands in a recent partnership in the Bitcoin ecosystem. A collaboration that aims to provide Rivera users with the capability to offer cross-chain liquidity and manage assets that are on the Bitcoin or Ethereum Virtual Machine (EVM) blockchains.

With this integration, we mark another step closer to interoperability in the Bitcoin ecosystem and offering more functionality of our network, meaning using strategies offered by Rivera Money in a more fluid exchange of assets across different blockchain networks.

Connect and Learn More About Rivera Money

Bitfinity and BiHelix 🤝

The second project that joins the partner hall of fame of Bitfinity is BiHelix. A protocol designed to provide a highly user-friendly and scalable application framework for the entire Bitcoin ecosystem.

The core objective of BiHelix is to capitalize on the Bitcoin native layer's superior decentralization and security features while addressing major challenges like low scalability and Turing incompleteness that have historically hindered Bitcoin ecosystem growth.

The BiHelix platform facilitates the development of various types of decentralized applications on Bitcoin, from DeFi, AI, and even gaming on Bitcoin.

It is supported by significant investments from entities like Waterdrip Capital, Satoshi Lab, LK Venture, and Candaq Fintech Group. The sheets below will walk you through the diverse projects and partnerships that make up the BiHelix ecosystem.

Bibo Tan, CEO of BiHelix, stated that unlike other non-native Bitcoin scalability solutions such as side chains and colored coins, BiHelix is pioneering as a native Bitcoin infrastructure solution that supports the development of any DApps while maintaining Bitcoin’s inherent security and decentralization benefits.

Role of the RGB Protocol in BiHelix

RGB is a protocol layer built over the Bitcoin blockchain's consensus layer. It leverages aspects of the Lightning Network to enable the issuing and management of programmable and private assets, operating without the necessity for tokens.

Roadmap for BiHelix

BiHelix has outlined a detailed roadmap for the upcoming years:

Q3 2024: Development of an AMM DEX, introduction of stablecoins, and completion of zk-SNARKs verification integration.
Q4 2024: Integration with major wallets like Unisat and OKX Wallet, launch of the marketplace, and full integration with the Lightning Network.
Q1 2025: Launch of the official version of the application, and opening of node partnerships.
Q2 2025: Completion of the wallet SDK and full integration of RGB v0.11, and issuance of RGB20 assets.

BiHelix announced their partnership with Bitfinity Network on October 9 and is excited to a groundbreaking partnership with Bitfinity Network, a development that could mean a significantly enhanced Bitcoin ecosystem capability.

The partnership between BiHelix and Bitfinity is set to "turbocharge the cross-chain functionality and scalability of the Bitcoin ecosystem."

Consequently, this will facilitate a more versatile and robust environment for developers and users within the Bitcoin ecosystem. The sentiment across the community is one of optimism and anticipation for what Bitfinity will bring to the Bitcoin ecosystem.

Connect and Learn More About BiHelix

Bitfinity and Beyond 🤝

‘To Bitfinity and beyond!’ It sounds natural and known, so be it our third partnership of this week with the protocol Beyond. This protocol is specifically designed to handle Bitcoin-to-Bitcoin transactions across its multiple token standards.

Similar to Bitfinity, Beyond's mission is clear: to seamlessly integrate Bitcoin with other major cryptocurrencies across various platforms and blockchains. An integration that facilitates a level of interoperability previously deemed impractical, and enables users to move significant digital assets like USDT, ETH, or SOL to Bitcoin's L1 as a native token.

With Beyond, users can effortlessly move BTC, BRC-20s, or specific Runes—like ORDI or DOG—to over 80 different chains and Layer 2 solutions (L2s).

Also, the Beyond platform extends Bitcoin's functionality ‘beyond’ its traditional role as digital gold, transforming it into a powerhouse for decentralized finance on a global scale.

What Can Beyond Bridge in the Bitcoin Ecosystem?

Bridge major digital tokens like USDT, ETH, or SOL to Bitcoin L1.
Move BTC, BRC-20s, or Runes—like ORDI or DOG—to any of the 70+ chains supported.
Easily switch between Bitcoin token standards.

Bitfinity is integrating Beyond Tech as its primary interoperability solution. This integration facilitates a more connected and efficient blockchain ecosystem, where users can effortlessly move assets not only across Bitfinity and Bitcoin L1 but also among any of the 80+ chains that LayerZero Core supports.

The reaction from the cryptocurrency community has been overwhelmingly positive, whereas users are praising the initiative as a significant advancement that could potentially reshape the entire landscape of blockchain technology.

Connect and Learn More About Beyond

Bitfinity and Oooo Money🤝

Oooo_money is our last partner of this week, and it is providing a modular omnichain interoperability protocol that supports also the entire Bitcoin ecosystem.

They aim to address key issues like blockchain isolation and liquidity fragmentation and also want to enhance the integrity and reliability of data and asset transfers across Bitcoin mainnet and the varying architectures of L2 solutions (including Bitfinity) to improve user experience.

Currently, oooo plans to expand its support to include a wider variety of assets like USDT, USDC, and ETH to foster better liquidity within the BTC ecosystem.

Over the last month and a half, Oooo money has reached several important milestones:

Integration Success: They have successfully integrated with five mainnets and four new testnets.
Treasure Hunting Journey: They concluded an event successfully with impressive participation:

Over 170,000 participant addresses were involved.
Participants completed more than 830,000 transactions.
The event saw over 67,000 chest holders.

Oooo Money has also introduced a new feature that supports direct Bitcoin deposits to Layer2 solutions via Binance. This new service is designed to make transfers not only cheaper but also easier, providing a significant advantage to users who manage their transactions through Binance.

By collaborating with Oooo Money, Bitfinity will significantly enhance the interoperability and liquidity of Bitcoin across various blockchain networks. This new initiative is expected to open up new avenues for Bitcoin in its almost unlimited realm of decentralized finance.

With our upcoming mainnet launch, it could represent a significant leap towards realizing the full potential of Bitcoin.

Connect and Learn More About Ooo Money

Conclusion

As Bitfinity forges new alliances and partnerships, our strategic vision aims to expand the scope and utility of Bitcoin. The call to evolve beyond mere permissionless transactions and value storage is clear! We are delighted to welcome these key partners:

Rivera Money innovates the DEX landscape with its permissionless liquidity management protocol, efficiently handling concentrated positions and transforming them into DeFi-composable yield tokens.
BiHelix provides a user-friendly, scalable application framework for the entire Bitcoin ecosystem. Leveraging the RGB protocol and Lightning Network, BiHelix facilitates the development of diverse DApps on Bitcoin, from DeFi and AI to gaming.
Beyond integrates Bitcoin with major cryptocurrencies across various platforms and blockchains. As it allows users to move assets effortlessly across Bitfinity, Bitcoin L1, and 80+ LayerZero-supported chains.
Oooo Money offers a modular omnichain interoperability protocol supporting the Bitcoin ecosystem. By addressing blockchain isolation and liquidity fragmentation, Oooo enhances data and asset transfer integrity across Bitcoin mainnet and L2 solutions.

For an in-depth exploration of how these strategic partnerships transform the Bitcoin ecosystem and to stay updated with the latest developments, keep an eye on the Bitfinity Blog and connect with us through our various channels.

Want to see where Blaze (our mascot) found his other partners and what they bring to the Bitfinity ecosystem? Take a look at our previous partners, in previous partnership articles here! 🦦👇🦦

Connect with Bitfinity Network

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Bitfinity’s Blockchain Bash: Seventh Symphony of Solutions

Bitfinity and Rivera Money🤝