HTX Ventures and CoreX: Ushering in the Future of Bitcoin DeFi

Bitcoin has seen significant advancements in 2024, including regulatory approval of Bitcoin ETFs and the completion of its halving in May. These developments have rekindled interest in Bitcoin scalability and have led to the rise of Bitcoin Layer2 solutions and sidechains. One key area experiencing growth is Bitcoin Decentralized Finance (BTCFi), which aims to introduce decentralized financial functions into the Bitcoin ecosystem.

HTX Ventures has identified Core Chain, a public chain addressing Layer1 network security, speed, and decentralization issues, as a promising partner in the BTCFi sector. Core Chain utilizes the Satoshi Plus consensus mechanism, which leverages Bitcoin's security to enhance transaction processing speed while maintaining decentralization. This mechanism combines Delegated Proof of Work (DPoW), Delegated Proof of Stake (DPoS), and non-custodial Bitcoin staking, ensuring robust network security. For details on Core Chain's white paper, visit https://docs.coredao.org/core-white-paper-v1.0.7.

HTX Ventures has strategically invested in CoreX, a decentralized exchange (DEX) built on Core Chain. CoreX is envisioned as the future gateway and liquidity hub of the CoreDAO ecosystem, offering a new trading experience. CoreX's design philosophy focuses on solving liquidity shortages and slippage, integrating AI technology, and creating a vibrant social trading hub.

BTCFi's potential is substantial but largely untapped. Despite Bitcoin's strong consensus and security, it lacks smart contract capabilities, limiting its use to primarily holding the asset. BTCFi aims to unlock new experiences for Bitcoin holders, such as on-chain lending, decentralized trading, and futures trading. Currently, BTCFi's total value locked (TVL) is approximately $1.2 billion, only 0.09% of Bitcoin's market cap. In comparison, other public chains like Ethereum and Solana have much higher TVL-to-market cap ratios, suggesting significant growth potential for BTCFi.

CoreX enhances the traditional DEX experience by providing a user-friendly trading environment with advanced real-time charting tools, technical indicators, and drawing tools. Social trading is elevated through global chat rooms, coin-specific chat rooms, and encrypted messaging. CoreX plans to launch a massive social airdrop event, attracting further attention.

Additionally, CoreX employs AI technology to recommend trading opportunities and offers a one-click copy trading feature, allowing users to follow successful traders' strategies easily. Partnerships with algorithmic trading companies enable precise price predictions, enhancing the trading experience.

HTX Ventures' strategic investment in CoreX is part of its commitment to advancing the CoreDAO ecosystem. The firm's integration of investment, incubation, and research aims to identify and support the most promising projects in the blockchain sector. HTX Ventures backs over 300 projects, providing comprehensive support, including financing, resources, and strategic advice. For more information, visit https://www.htx.com/en-us/ventures.

HTX Ventures' investment in CoreX signifies a major step toward expanding Bitcoin's functionality and the broader DeFi ecosystem. By leveraging Core Chain's innovative consensus mechanism and CoreX's advanced trading platform, HTX Ventures aims to unlock new value and opportunities for Bitcoin holders, fostering a more diverse and robust DeFi landscape.