New version — Flash Trade on swaps.io (demo)
Kinetex is beyond excited to officially announce its integration with Gnosis Pay, the world's first on-chain self-custodial account that connects the DeFi industry with the traditional economy.
Gnosis Pay enables users to use their crypto assets to make payments anywhere that supports Visa debit cards as a payment option. Simultaneously, Kinetex's Flash Trade provides a seamless and rapid method for users to replenish their balances from Bitcoin, Ethereum, and other EVM-compatible tokens. This integration empowers crypto users with enhanced financial independence and flexibility on a global scale.
Flash Trade, Kinetex's innovative trading protocol, leverages ZK technology to facilitate intent-based trading across multiple chains. This approach eliminates the need for intermediaries, centralized validators, or complex smart contracts, ensuring direct interaction between traders and market makers. Furthermore, makers are entrusted with providing ample liquidity, swift execution times, and advantageous rates, guaranteeing users can indulge in instant, secure, and cost-effective trading at their convenience.
One of Kinetex's most critical features is its support for Bitcoin, made possible through BTCX, a ZK light client built with Succinct Labs' infrastructure for programmable truth. This groundbreaking development has paved the way for Kinetex to bridge the gap between the first cryptocurrency and the rapidly expanding DeFi ecosystem, marking a significant milestone in the cryptocurrency industry.
The collaboration of Kinetex and Gnosis Pay will revolutionize how cryptocurrency owners can utilize their assets, allowing them to spend their crypto funds in their day-to-day lives. This way, Kinetex and Gnosis Pay will continue working towards accelerating crypto's widespread adoption and the growth of the DeFi industry.
The integration of Bitcoin into the DeFi ecosystem is a significant advancement for the whole cryptocurrency industry. As the first and most valuable cryptocurrency, Bitcoin has primarily served as a store of value. Yet, the emergence of DeFi and new technologies has resulted in the possibility of extending Bitcoin's potential, and Kinetex is at the forefront of this transformation.
Kinetex's contributors are working hard to expand the range of supported networks. They aim to connect more than a dozen networks, including well-known L1 networks like Bitcoin, Solana, Aptos, Sui, BounceBit and Berachain soon. Moreover, they are also connecting a variety of L2 Ethereum and Bitcoin networks, including ZkSync, Linea, Scroll, Merlin, Rootstock, and others. By increasing the number of accessible networks, Kinetex removes the obstacles preventing crypto holders from moving across the blockchain ecosystem freely, thus drastically enhancing the global crypto user experience.
Kinetex Network: Website | Kinetex dApp
