ICON Foundation Increases Network Liquidity by Acquiring BTC Assets

IconCryptoNewsTerminal Staff13 Jun, 2024

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ICON Foundation Increases Network Liquidity by Acquiring BTC Assets

The ICON Foundation, responsible for the ICON layer-1 blockchain, has recently announced the acquisition of BTC assets (BTCB, wBTC) to enhance network liquidity. This strategic move has led to the creation of a BTC/bnUSD pool on Balanced, a cross-chain decentralized exchange and lending platform built on the ICON blockchain. The Foundation plans to launch the frontend interface for this pool within this month. The acquisition of BTC assets by the ICON Foundation is a notable step that aims to improve the overall liquidity and efficiency of the ICON network. The creation of the BTC/bnUSD pool on Balanced will provide users with additional trading and swapping options, encouraging broader adoption and utilization of the ICON ecosystem. This move aligns with the ICON Foundation's commitment to strengthening the ICON network and fostering its growth. The Foundation's focus on liquidity optimization through strategic acquisitions and partnerships demonstrates its dedication to enhancing the user experience and supporting the long-term sustainability of the ICON ecosystem.

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