BTCV Expands into DeFi with wBTCV on BSC

wBTCV on BSC: Prospects for BTCV Owners

Bitcoin Vault (BTCV) is venturing into the booming DeFi world. The debuting wBTCV (wrapped Bitcoin Vault) on Binance Smart Chain (BSC) would allow BTCV holders access feature-rich DeFi features. The BSC is spearheading the DeFi revolution. The BEP20 wBTCV token would offer dApps for asset lending, borrowing, staking and liquidity pools. wBTCV is pegged to BTCV’s value with a 1:1 ratio. BTCV owners will be allowed to deposit them with a custodian, for being issued equal wBTCV tokens for dApps interactions on BSC. wBTCV owners can also access custodian services to be issued BTCV against their wBTCV holdings in equal proportion.

What is Bitcoin Vault?

Bitcoin Vault is the proud sponsor of the SkillzVault series of esports tournaments. BTCV is the cryptocurrency offering enhanced security layer with a 3-Key Security Solution. BTCV makes reversible transactions possible whilst maintaining blockchain immutability.

Why wBTCV on BSC?

BSC’s smart contract functionalities and Ethereum Virtual Machine (EVM) compatibility are main reasons warranting wBTCV’s BSC launch. Along with dual chain architecture of Binance, two-way blockchain interaction gets seamless. The compatibility with Ethereum’s ERC-20 of BSC’s BEP-20 token standard is simply superb. As against Ethereum, BSC has two distinct categories of core vitality: speed of transaction and cost. BSC’s block confirmation time is just three seconds. It has the capability of processing 3.5 million transactions daily. Ethereum can only process 1.1 million transactions in a day. Low gas fees on BSC lets users access enhanced capacity by paying just $0.01 per transaction. This convinced the Bitcoin Vault developers to deploy wBTCV on BSC.

BTCV Pursuing Gaming & NFTs

BTCV recently announced the launch of its first set of NFTs (Non-Fungible Tokens) in partnership with ESE Entertainment Inc. This development brings BTCV and ESE’s esports talent show SkillzVault by Bitcoin Vault to the forefront. Launched on the AirNFTs marketplace on August 13 (2021), the NFTs were reportedly sold in a couple of hours. Further NFT releases are due for BTCV’s other countries of operation: China, Vietnam, Japan, and Brazil.

Source : bsctimes

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