Mintlayer team and RBB Lab are pleased to announce a new collaboration with Portal DeFi, which is backed by Coinbase. Portal DeFi and Mintlayer have a shared vision. Both projects seek to provide the world with reliable tools to participate in secure decentralized finance agreements while maintaining privacy. These tools will allow users to interact directly, eliminating the need to incur risks that arise when people have to trust potentially fallible intermediaries and centralized authorities.
While Mintlayer and Portal DeFi could be seen, in some sense, as competitors, they share a modern vision of open-source cooperation for the benefit of all as a superior alternative to me-first competition and rent-seeking maintenance of central authority through proprietary limitations and denial of access to privately-owned technology. Both projects see collaboration as the best way forward.
A Shared Vision And Complementary Services
While they have the same big vision, both projects offer a unique approach to BUIDLing a better future. Portal offers a wallet that provides access to a cross-chain Layer-2 DEX built on Bitcoin. The Portal DEX is the first system that offers cross-chain exchange without using bridges or wrapping. Instead, Portal exchanges are made with atomic swaps using Bitcoin’s security layer and allowing users to retain custody until the transaction is complete instead of having to trust a federation. Portal will build support for tokens issued on Mintlayer. Portal also allows the creation of DAPPs using its Fabric protocol.
Mintlayer offers users the ability to create new tokens that can be swapped directly with BTC. Portal’s support for Mintlayer will allow users to build DAPPs that interact with tokens issued on Mintlayer. Mintlayer’s presence on Portal will bring Mintlayer users to Portal, and Portal’s support of Mintlayer will expose Portal users to Mintlayer tokens and projects.
From The Project Leaders
“Portal DEX supports many layers of financial and non-financial applications on Bitcoin. This means that Bitcoin protocol does not need to be upgraded to achieve any new functionality. This can increase Bitcoin adoption, its security budget, and its usability as the truly global monetary system. Supporting Mintlayer sidechain assets naturally fits into our ecosystem approach to bringing many layers to Bitcoin.” - Executive Chairman Dr. Chandra Duggirala, Portal DeFi -
“Mintlayer is a tokenization layer built on top of Bitcoin, enabling native swaps with BTC, including using the lightning network. Portal’s cross-chain DEX can help make multi-chain implementations more viable, allowing token issuers to take advantage of the unique advantages of different protocols, including bitcoin sidechains like Mintlayer, thereby plugging the entire web3 ecosystem to the most decentralized and valuable blockchain, and the world’s hardest money.” - Enrico Rubboli, CEO of RBB Labs -
Together, Mintlayer and Portal DeFi will open the door to a new era of global access to an economy where free choice reigns and risks associated with trust in centralized authority become the dusty artifacts of a bygone era.
For further information about Portal visit https://portaldefi.com/