BCGAME - Free 5BTC Daily Bonus!- Solana integrates Coinbase’s cbBTC for increased liquidity.
- Marinade V2 innovates with secure staking directly from the wallet.
- Solana’s significant expansion into DeFi with new partnerships.
The Solana blockchain continues to strengthen its presence in the decentralized finance (DeFi) sector, standing out with important developments and partnerships announced during the Breakpoint Conference 2024, held in Singapore. Among the most significant developments are the introduction of Coinbase’s wrapped Bitcoin, cbBTC, and the launch of the Marinade V2 update by Marinade Finance.
At the conference, Coinbase launched its cbBTC asset on the Solana network, a strategic move to increase Bitcoin liquidity within this blockchain ecosystem. cbBTC acts as a bridge for Bitcoin trading on other blockchains, always maintaining a 1:1 equivalence with the actual Bitcoin, which is crucial for maintaining cross-chain liquidity.
Innovation in Staking with Marinade V2
Marinade Finance took advantage of the same stage to reveal its new staking version, Marinade V2. This update aims to simplify the staking process, making it safer and more accessible. With it, users can stake their SOL tokens directly from their wallets, without the need to transfer them to a smart contract, minimizing the risks associated with these contracts.
The New Staking Meta ft. @MarinadeFinance pic.twitter.com/EFkJob8Sou
— Solana (@solana) September 23, 2024
Additionally, Marinade V2 introduces Protected Staking Rewards (PSR), ensuring that users receive the expected staking rewards regardless of validator performance. This is achieved through a system where validators are required to deposit collateral, ensuring compensation in case of poor performance.
Other Notable Developments
The event also saw other important announcements. Renowned asset manager Franklin Templeton announced the launch of a Solana-based mutual fund, and Citibank announced that it is exploring the use of the blockchain for its financial products.
These partnerships and developments underscore Solana’s growing role in the DeFi world, highlighting its commitment to delivering innovative and secure solutions to the cryptocurrency market.
