Decentralized exchange Sushi is set to revolutionize the DeFi landscape by testing native Bitcoin functionality. Partnering with interoperability platform ZetaChain, Sushi aims to enable users to seamlessly swap BTC across 30 blockchain networks.
Unlocking Native Bitcoin Trading Across 30 Blockchains
Sushi’s collaboration with ZetaChain goes beyond conventional decentralized exchanges. The integration, deployed on ZetaChain, promises to facilitate the trading of BTC without wrapping across multiple blockchains. This innovative approach ensures a native, decentralized, and permissionless trading experience.
The integration encompasses Sushi’s v2 and v3 automated market makers, along with the cross-chain swap feature, SushiXSwap. ZetaChain’s core contributor, Ankur Nandwani, emphasizes the potential to bring Bitcoin’s extensive user base into the DeFi sector in a truly native manner.
Addressing skepticism around native Bitcoin swaps without asset wrapping, Nandwani points to precedents like THORChain, showcasing that it’s not only possible but already underway. ZetaChain’s approach empowers developers to build Bitcoin-interoperable decentralized applications (DApps) that settle contracts and transactions without intermediaries.
ZetaChain’s Testnet Success and Mainnet Launch
ZetaChain has successfully tested the technology at the testnet level and plans to showcase its utility on the mainnet through strategic partnerships with SushiSwap and other DeFi protocols. Sushi’s head chef, Jared Grey, hails this integration as a game-changer for DeFi, emphasizing the increased liquidity and a new era of practical interoperability.
Sushi’s integration with ZetaChain will occur in two phases. The first phase introduces a DEX on ZetaChain’s testnet, supporting basic asset swaps and liquidity provision. Beta testing and incentives for application testing will also be part of this phase.
ZetaChain Launch Partnership with Sushi
Sushi will become one of ZetaChain’s launch partners when it deploys its mainnet. This milestone will bring full functionality for Bitcoin interoperability, marking a significant step in expanding DeFi’s capabilities.
Nandwani delves into the technical details, explaining the cross-chain swap contract’s deployment on ZetaChain’s Ethereum Virtual Machine. The omnichain contract allows seamless interaction with any connected chain, including Bitcoin.
The Cross-Chain Swap Process Unveiled
Nandwani provides a step-by-step explanation of the cross-chain swap process, from initiating a regular native token transfer on Bitcoin to the final withdrawal of the destination token on another chain. This decentralized process, facilitated by ZetaChain’s network validators, ensures the native swap of BTC for other tokens.