Umoja Integrates Portal DeFi Enabling Trustless Swapping of Lower Risk, Higher Yield Assets on Bitcoin
SAN FRANCISCO–(BUSINESS WIRE)–Umoja, the world’s first DeFi protocol to structure low-risk, high-yield digital assets, today announced an integration with Portal DeFi, the world’s first trust-minimized Layer 2 cross-chain swaps protocol that involves no bridges, custody, or wrapping. The partnership will integrate Bitcoin’s first high yield synthetic dollar, USDb, and the native $UMJA token into the Portal DEX Network, making it one-click, cross-chain tradable with Native BTC, BRC20s, and native assets on various chains.
“Integrating Umoja’s smart assets, like Bitcoin’s first synthetic dollar – USDb – onto Portal DEX opens up our ecosystem to the rest of the BitVM landscape. Enabling value to transfer across BitVMs growing DeFi landscape is not only essential for adoption, but will also create a deeper market for Bitcoin native assets,” said Robby Greenfield, Founder of Umoja.
As the first DEX of its kind, Portal facilitates trust-minimized, cross-chain swaps that involve no bridges, custody, or wrapping. The integration of the Portal Swaps SDK into the Umoja protocol will allow users to buy and sell native BTC, Eth and other cross-chain cross-layer assets safely and seamlessly, with one-click. The feature allows for the deposit and trade of a wide variety of assets with the speed, liquidity and user experience of centralized exchanges while eliminating custody and bridge risk. Umoja’s innovative, automated trading strategies can now leverage native assets, reducing trust assumptions and making trading safer and more enjoyable for users across its network.
“We are excited to partner with Umoja to provide Umoja and Portal users with access to trading strategies previously reserved for institutions and professional traders,” said Chandra Duggirala, CEO and Co-founder of Portal. “This integration will further reduce the risk inherent in cross-chain asset transfer and make trading safer and more accessible for the masses.”
About Portal DeFi
Portal, conceived by a team of veteran Bitcoin and AI engineers, is dedicated to empowering financial self-sovereignty. The Portal Cross-Chain DEX Network is designed to match the speed, liquidity and user experience of centralized exchanges while eliminating the inherent custody risks of bridges and CEXs. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io and many other prominent investors. For more information, visit https://portaldefi.com, X (Twitter), Discord, Medium and Telegram.
About Umoja
Umoja is the world’s first smart money protocol, leveraging blockchain technology to empower anyone to create smart money. By integrating automated investment strategies into digital assets, Umoja can create customized, high-liquidity, low-risk, and high-yield tokens. For more information, visit https://www.umoja.xyz/, X (Twitter), Discord, Blog and Telegram.
Contacts
For Portal
portal@gasthalter.com
