#Write2Earn #LUMERIN AND PORTAL FORGE PATH FOR #BITCOIN HASHPOWER TRADING: A NEW ERA IN DECENTRALIZED FINANCE
Lumerin, a decentralized marketplace for Hashpower operating on Arbitrum, has introduced technology that transforms Bitcoin hash rate into a tradable asset, facilitating global peer-to-peer hash rate trading. Today, they're thrilled to announce a new collaboration with Portal, a pioneering platform enabling trust-minimized, cross-chain swaps without the need for bridges, custody, or wrapping.
Portal's Swaps SDK, designed by fintech innovators, enables seamless cross-chain decentralized exchange (DEX) through Atomic Swaps technology, eliminating the risks associated with custodial control often found in traditional cross-chain exchanges. This partnership brings forth fresh solutions for the Bitcoin mining community to navigate uncertainties arising from regulatory shifts, energy policies, currency volatility, and the forthcoming Bitcoin Halving event on April 19, 2024.
Lumerin's peer-to-peer marketplace empowers miners to create and sell Bitcoin hashpower contracts directly on the open market, with transactions facilitated through their native token (LMR). These contracts aim to stabilize revenue streams for miners, ensuring consistent payments and improved liquidity.
Chandra Duggirala, co-founder and CEO of Portal, highlights the significance of this integration, stating, "Lumerin's integration enables Portal DEX users to access the innovative hashpower contract market, providing miners with a reliable income stream amidst cryptocurrency price fluctuations." By incorporating Portal's Layer 2 atomic swap technology into Lumerin's marketplace, Bitcoin enthusiasts can effortlessly exchange BTC for native Lumerin tokens and conduct transactions across Ethereum's Layer 2, streamlining the process and reducing costs associated with inter-blockchain transactions.
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