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Sushi expands to ZetaChain pioneering native BTC swap in a single step without wrapping or bridging, across 30 chains
Today, we’re thrilled to announce that Sushi is expanding to ZetaChain, a Layer 1 blockchain and developer platform that connects any L1 and L2, from Ethereum to Bitcoin and beyond. The integration will enable the first native BTC support, allowing users on Sushi to swap native BTC across 30 networks. With ZetaChain's infrastructure and Sushi’s cross-chain/multi-chain capability, the integration is set to bring DeFi to a new era.
Introducing ZetaChain
Functioning as a Layer 1 blockchain and developer platform, ZetaChain positions itself as the “the only blockchain you’ll ever need”. ZetaChain provides a more cost-effective, efficient, and secure method for value transfer across different blockchain networks with its support for Omnichain Smart Contracts.
One of the innovative features of ZetaChain is its support for a novel token standard known as ZRC-20. This standard enables developers to craft native cross-chain applications that engage in transactions with native fungible tokens, including but not limited to ERC-20s, Gas Assets, and Bitcoin, all within a unified blockchain environment. ZRC-20 essentially serves as an augmented version of the ERC-20 standard, facilitating both deposits and withdrawals across a multitude of interconnected chains.
Moreover, ZetaChain makes it possible for users to experience all of crypto from one preferred wallet. Users benefit from not having to ascertain specific gas assets, manage numerous wallets across diverse networks, or navigate through complex user interfaces underpinned by potentially unreliable trust models.
Sushi x ZetaChain: DeFi 3.0 with Native Bitcoin
For Sushi, the DEX deployment on ZetaChain will enable trading of BTC (without wrapping) with assets in the DeFi world on other chains in a native, decentralized, and permissionless manner, making trading native BTC possible in DeFi for the first time. With the integration of Sushi v2 AMM, v3 AMM and SushiXSwap, Sushi’s cross chain swap, users will be able to swap native BTC across 30 networks. This use case opens up largely untapped liquidity on Bitcoin, a network historically disconnected from the rest of the DeFi ecosystem.
Head Chef Jared Grey says, “Sushi's partnership with ZetaChain represents a significant advancement for DeFi. The capability to swap Bitcoin natively, eliminating the need for wrapping or bridging, is a game-changer for the industry. It's not only about the increased liquidity from Bitcoin; it's about beginning a new chapter in DeFi, where we see more practical use cases of interoperability and enhanced connectivity”.
Lead Sushi Developer Jiro says, “ZetaChain's EVM compatibility streamlines our integration process. Using our existing Ethereum smart contracts on ZetaChain will create a lot of new use cases for Sushi. For example, with the introduction of SushiXSwap, our cross-chain swap, we'll be able to offer Bitcoin swapping across 30 different chains. We're keen to deploy on the testnet and see where the native Bitcoin swap will take us!”
What’s next?
The integration includes two key phases. In the upcoming period, Sushi plans to introduce a decentralized exchange (DEX) on the ZetaChain testnet, which will support basic asset swaps and liquidity provisioning. As part of this rollout, there will be opportunities for beta testing, including campaigns that offer incentives for testing the application.
Once the ZetaChain mainnet is operational, Sushi is set to be one of the primary launch partners. Following this launch, the platform will implement full functionality for Bitcoin interoperability, expanding its range of services.
Stay tuned for the updates.
About ZetaChain
ZetaChain aims to be the only blockchain you’ll ever need. It is a layer 1 blockchain and developer platform that connects any L1 and L2, from Ethereum to Bitcoin and beyond. Access all of crypto in one place, as a developer or user. With ZetaChain’s completeOmnichain toolkit, developers can build true omnichain dApps from a single point of logic, and users can access all of their assets, data, and liquidity in a single place, securely.
Follow ZetaChain on Twitter@zetablockchain and join the conversation onDiscord andTelegram. Reach out to partnerships@zetachain.com if you’re building on top of ZetaChain.
Any projects mentioned are 3rd party, not ZetaChain.
Sushi is building a comprehensive DeFi ecosystem! Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!
