Unitap Launches ‘DeFi-on-Bitcoin’ Wallet, Announces Public Sale
El Salvador, July 11, 2024 – Unitap, a decentralized finance platform that offers a trustless, onchain tool for swapping tokens, today announced the launch of the Unitap Wallet, the first-ever dedicated wallet designed to interact with the TAP Protocol, marking a pivotal moment in the evolution of DeFi on the Bitcoin ecosystem.
The Unitap Wallet provides users with complete control and flexibility over their TAP token holdings while signifying a major milestone in the widespread adoption of the TAP Protocol.
The TAP Protocol introduces the TAP token standard on Bitcoin, enhancing asset management and transfer with the Ordinals system, providing a more decentralized and accessible ecosystem for various assets.
The state-of-the-art wallet empowers users to transfer, bridge, mirror, deploy and mint TAP tokens effortlessly through a user-friendly browser extension, setting a new standard in secure and efficient TAP asset management. The Unitap Wallet can be downloaded here.
To celebrate its wallet launch, Unitap also announced its highly anticipated public sale of Unitap OG Pass. Named Public Round 1, the official sale started on July 9, giving users the exclusive opportunity to acquire Unitap OG Passes at a discounted rate and further incentivizing early participation and investment in the project.
“Unitap comes in a moment where the TAP Protocol is establishing itself as the major player in Bitcoin L1 DeFi,” said Sophia K., Unitap’s Chief Technology Officer, adding:
“We believe that by building adoption infrastructure to interact with the Protocol we can contribute to the onboarding of a new generation of Bitcoin L1 users as well as provide support and easy-to-use interfaces for those who are already onboarded. The launch of the Unitap Wallet is a solid step in this direction.”
Unitap aims to accomplish several key objectives before the end of the year, each designed to enhance the interoperability and utility of TAP tokens within the broader DeFi ecosystem:
- Runes and BRC-20 Swaps to TAP Protocol: Unitap will enable seamless swaps between Rune —protocol enabling fungible token creation on the Bitcoin network— and BRC-20 tokens and TAP-based tokens, bridging different indexing standards and enhancing liquidity and trading efficiency within Bitcoin’s DeFi ecosystem.
- Runes and BRC-20 Bridges to TAP: Owners of TAP tokens will be able to mirror their tokens in Runes and BRC-20 protocols, increasing exposure and access to diverse DeFi platforms and applications, thereby boosting the utility and interoperability of their assets.
- Integration of TAP Promises: The integration of promises into the TAP ecosystem represents a breakthrough advancement in Bitcoin DeFi. Staying true to Bitcoin Ordinals and “L1” principles, promises unlock new DeFi features such as staking, lending, and bonds, previously inaccessible or inefficient on Bitcoin.
About Unitap
Unitap is a decentralized finance platform that offers a trustless, onchain tool for swapping tokens, including Rune, BRC20, and TAP-based tokens. It aims to be the central hub for TAP DeFi, providing efficient and decentralized token transfers and bridges. Key features include token swaps, TAP-based token bridging, and integration with the TAP Protocol, enhancing transaction flexibility and utility within the ecosystem.
Learn more: https://unitap.io/
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.