Sushi, ZetaChain To Begin Testing Of Native Bitcoin DeFi Swaps; Aave Companies Rebrands Itself To Avara

Here are some of the major developments from the world of crypto over the past few days
Bitcoin, Defi
Bitcoin, Defi

Sushi, a decentralised finance (DeFi) platform, and ZetaChain, an interoperability platform, have teamed up together to find if native Bitcoin swaps for Sushi’s consumers across 30 different Blockchain networks are possible.

Sushi has said that by implementing its decentralised exchange (DEX) on ZetaChain, trading of Bitcoin will be possible in a “native, decentralised, and permission-less manner” without requiring wrapping over several Blockchains. Sushi’s cross-chain swap, SushiXSwap, and its automated market makers, v2 and v3, are scheduled for integration.

Ankur Nandwani, a fundamental developer at ZetaChain, told Cointelegraph that the alliance has the potential to naturally introduce Bitcoin’s sizable user base into the DeFi space. He also refuted claims that it is impossible to bridge Bitcoin without encircling the assets in another chain.

Incidentally, early instances of native Bitcoin trading with other chain assets also exist, such as THORChain.

Nandwani said, “Other strategies, like Bitcoin side chains, also offer a flavour.” He further said that anyone could create decentralised apps (DApps) that are compatible with Bitcoin and have native contract and transaction settlement capabilities thanks to ZetaChain’s methodology.

Aave Companies Rebrands Itself To Avara

Aave Companies, a DeFi group, has changed its name to Avara in an effort to attract more users from the Web 3.0 ecosystem.

The creator and CEO of Avara (previously Aave Companies), Stani Kulechov, told Cointelegraph that the company needed an umbrella name with a wider Web 3.0 appeal due to its expanding array of products, which include the liquidity protocol Aave, the GHO Stablecoin, Lens Protocol, and Sonar.

“We will continue to innovate in DeFi and build tools for developers while creating new, intuitive and compelling products that attract mainstream people,” he said.

Kulechov added that the broader industry has focused on building infrastructure to enable the development of products that appeal to a wide user base. The rebrand marks the beginning “of a new era” where Blockchain technology becomes more “accessible, usable and fun.”

“The Finnish word ‘Avara’, which means ‘extensive’, ‘open’, ‘spacious’, and ‘inclusive’ served as the inspiration for the company’s new identity. In casual speech, it refers to ‘seeing more than you see’,” he further said.

Game Distributor G2A Opens Gaming-Focused NFT Marketplace

G2A, a provider of digital games, has expanded its portfolio of gaming software by introducing a marketplace for non-fungible tokens (NFTs) associated with Web 3.0 games. G2A Capital Group CEO

Bartosz Skwarczek said that the marketplace will help gamers find information on Web 3.0 games and buy and sell assets associated with the games.

The company said in a press release to Cointelegraph that the new project, which debuted on November 15, 2023 aims to promote Web 3.0 and NFT games that have been hand-picked by the G2A team. This will provide players with the ability to view what Blockchain gaming has to offer and display NFTs from games that have collaborated with G2A, it said.

Skwarczek further said that the company has been monitoring the Blockchain gaming industry’s growth since the launch of NFT gaming project Cryptokitties. During observation, it learned that contrary to popular belief, gamers are already involved in the industry.

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