GenericStablecoin, an omnichain stablecoin platform, has recently initiated a new collaboration. The company pointed out that it has joined forces with B2 Network which operates as a modular Bitcoin L2 solution by introducing B2 Rollup. The platform took to its official account on the social media forum X.
🚀 $GUSD is now live on B² Network!🎉 Thrilled to partner with @BSquaredNetwork and join their ecosystem! B² Network is a modular Bitcoin Layer2 solution. It introduces B² Rollup, the first Bitcoin rollup based on verification commitment, and B² Hub, the first Bitcoin Data… pic.twitter.com/4I205niyZ4
— GenericStablecoin (@GStablecoin) June 18, 2024
GenericStablecoin and B2 Network Join Forces
In a recent post by the company, it expressed its exclusive partnership with B2 Network. In addition to this, the platform also revealed the launch of its native crypto token $GUSD on the ecosystem of B2 Network. As per the firm, the new collaborator thereof has gained a considerable reputation within the market. B2 Network reportedly works as the most applicable L2 network concerning Bitcoin.
In line with the description of the project on its official X account, B2 Network is the earliest BTC DA layer. GenericStablecoin also claimed that B2 Network offers the initial BTC rollup in line with the verification commitment. The project also presents B2 Hub which is the 1st BTC data availability layer. The respective layer targets assisting diverse rollup types in settling conclusive transfers on the *BTC* ecosystem.
The platform also discussed the outcomes of the joint endeavor between the two entities. According to the firm, the omnichain-based liquidity aggregation of GenericStablecoin will provide significant benefits to B2 Network. It added that its yield system also contributes to strengthening the joint effort. As per GenericStablecoin, both platforms work closely to bring a unique L2 experience with Bitcoin.
In this way, the platform has voiced optimism regarding the potential results of the respective initiative. GenericStablecoin permits consumers to develop the crucial stablecoin engine that offers an exceptionally broad stablecoin market for BTC L2. Apart from that, B2 Network also announced this partnership on its X account. It brought to the front that Generic USD (GUSD) serves as a completely decentralized and zero-risk stablecoin.
The Partnership Results in an Increased Liquidity
Along with that, the platform also mentioned that the respective stablecoin backs local stablecoins. Moreover, it also supports their underlying assets and derivatives on any chain. However, the respective tokens need to have a 1:1 ratio of collateral. According to B2 Network, re-staking can efficiently enhance the effectiveness of the usage of funds. It asserted that the collaboration would boost liquidity to a great extent.