RATE Group | EOSDT Supply Cap Increases by $100M With Bitcoin Liquidity Support
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EOSDT Supply Cap Increases by $100M With Bitcoin Liquidity Support

01 May EOSDT Supply Cap Increases by $100M With Bitcoin Liquidity Support

Posted at 18:15h in Bitcoin News by

As the decentralized finance, or DeFi, industry continues to grow, the need for liquidity in cryptocurrencies is steadily increasing.

DeFi startup Equilibrium has today expanded the supply of its decentralized EOS stablecoin, EOSDT, as a result of integrating Bitcoin (BTC)-powered liquidity.

Equilibrium, a major multi-chain DeFi framework, has raised the EOSDT circulation cap from $70 million to $170 million, the firm announced on May 1.

EOSDT integration with pBTC drives the liquidity flow

This push became possible through EOSDT’s integration with cross-chain DeFi liquidity network pTokens, which enabled Bitcoin collateralization through pTokens’s BTC-pegged token, pBTC.

Bitcoin is the biggest cryptocurrency by market capitalization. It is one of the most liquid crypto assets with a trading volume of over $52 billion as of press time. By integrating pBTC — an Ethereum and EOS-compatible token pegged 1:1 to Bitcoin — Equilibrium unlocks massive new liquidity for the EOS…

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