HomeAltcoinsPalladium and Botanix Labs create a new type of digital money that...

Palladium and Botanix Labs create a new type of digital money that is based on Bitcoin’s First EVM Layer 2

-

Palladium and Botanix Labs are introducing a new stablecoin called PUSD on Bitcoin’s first Layer 2 network. This was announced in a press release sent to Bitcoin Magazine.

The PUSD stablecoin, made by Palladium Labs, is special because it is backed by 110% of its value in assets. This makes it stronger and safer in the DeFi system. The stablecoin’s plan for how it manages money tries to stay safe from changes in control or cheating by administrators, in order to make sure it’s honest and dependable.

Palladium Labs CEO Akash Gaurav said that in order for crypto to be really valuable, it needs to be independent from systems that can be taken advantage of and controlled. We made this stablecoin at Palladium to be strong and dependable. We can use the Botanix EVM to make stablecoin access for millions of people using Bitcoin much more secure and reliable.

Palladium uses the Botanix EVM to make stablecoin transactions for Bitcoin users safer and easier. The Botanix EVM has been in development since early 2023. The Spiderchain is an important part of the Botanix EVM. It helps keep the money safe when it moves from Bitcoin to the EVM network.

“Native stablecoins are very important for the tech changes happening on Bitcoin,” said Willem Schroe, the creator of Spiderchain and co-founder of Botanix Labs. “We are happy to help the Palladium team launch their stablecoin on our network. Their coin will have more collateral than it needs. ”

Palladium and Botanix Labs want to create better and safer ways to use money on Bitcoin. They are using a new technology to make it happen.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

New Bitcoin Whales Out-Invest Old Ones

Ki Young Ju, founder and CEO of CryptoQuant, has noted that the initial investments of new whales are almost twice as big as the old whales' cumulative...

Starknet-powered AVNU Launches Paymaster Feature, Revolutionizing Gas Fees on Ethereum Layer-2

In a recent development, Starknet, Ethereum’s layer-2 scaling solution leveraging zero-knowledge rollups, announced a groundbreaking feature by AVNU, its native DEX aggregator. AVNU’s newly launched...

Neo launches Neo X Beta TestNet, more information on GAS utility revealed

Neo has launched the Neo X Beta TestNet, bringing with it a new set of features as progress towards the MainNet launch continues. The latest...

NURSES PROTEST AGAINST THE USE OF AI IN HEALTHCARE AT KAISER PERMANENTE

Registered nurses and members from the California Nurses Association (CNA) protest against AI at Kaiser SF. The nurses are worried about patients’ safety but...

Most Popular

ADVERTISE HERE