Block.one Launches Bullish Cryptocurrency Exchange

2021-5-12 19:40

Blockchain platform Block.one has announced they are launching a new blockchain-based cryptocurrency exchange called Bullish.

Bullish aims to combine the performance, privacy and compliance of traditional exchanges with vertically integrated user benefits of decentralized finance. It will capitalize Bullish with approximately $10 billion in digital assets and cash.

These include 64,000 bitcoins (BTC) valued at around $9.7 billion, $100 million in cash, and 20 million EOS tokens. EOS tokens power Block.one, which billionaires Peter Thiel, Alan Howard, and Louis Bacon also support. Each contributed to an additional $300 million strategic investment round. 

According to an announcement, the project will offer several features that have traditionally only been offered in traditional finance. These will include automated market making, lending, and portfolio management tools. It will also offer deeper liquidity for digital assets.

EOS-powered

Bullish will utilize EOSIO and the EOS public blockchain to produce a cryptographically validated, and immutable audit trail for transactions. By doing this, it is set to bring externally verifiable state integrity to a trading and asset management platform.

Bloomberg added that this could revitalize Block.one’s EOS technology. It has drawn considerable flak, since running the world’s biggest ICO in 2018. While they used some of the $4 billion on the EOS blockchain, much simply got invested in assets like government bonds. EOS has also seen developer interest decline recently, according to a report from Electric Capital.

Investors as advisors

In addition to acting as primary investors in Bullish, the billionaires listed above will also serve as senior advisors.

Thiel highlighted the strength of Bullish’s balance sheet, and noted that its vertical integration would offer stability and liquidity to the cryptocurrency space. Meanwhile, Howard emphasized the role Bullish would play in “successfully bridging the gap between digital assets and institutional actors.”

Also, as greater mainstream adoption of digital currencies occurs, he said this will contribute to shaping the future of finance. Finally, Bacon added that “Bullish is well positioned to leverage blockchain-based market structures,” which will fill a role in improving access for investors. 

The post Block.one Launches Bullish Cryptocurrency Exchange appeared first on BeInCrypto.

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Источник: beincrypto.com

bullish block → Результатов: 52


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