STX price jumped more than 77% after the announcement of participation in the program The Bitcoin Odyssey; that should bring DeFi to Bitcoin.A stacksplatform for implementing DApps and smart contracts in Bitcoin that is being used in Miamireceived investment from the OKX exchange, which has already been investing in Brazil. The mayor of Rio de Janeiro may have Stacks on his radar, as a platform for the launch of Crypto Riolearning from the MiamiCoin.
OKX Bet on DeFi for Bitcoin
When we talk about DeFi, smart contracts and decentralized applications, we hardly think of Bitcoin. The first name that comes to mind is probably Ethereum and its entire range of competitors focused on creating This one financial ecosystem.But the Asian group OK Blockchain Foundationdevelopers at OKX (formerly OKex), have a different idea about this and believe that the strength of Bitcoin should be used in creating a successful DeFi ecosystem. Alex Chizhik – Head of Listings at OKX – highlighted the potential of Bitcoin as the most decentralized network in the entire ecosystemstating that, precisely for this reason, it “must remain at the epicenter of cryptocurrency adoption”.
And following the investment maxim, the company literally “put its money in the same place as its lines”, bringing a financial contribution to the Stacks project (STX)which aims exactly to bring these existing functionalities into the web3 for the market-leading cryptocurrency network, Bringing the DeFi Market to the Bitcoin Network.
Stacks and “The Bitcoin Odyssey”
The market reacted positively immediately after OKX’s announcement to invest in Stacks and include the platform in its investment program called “The Bitcoin Odyssey”, which will allocate $165 million for the project with the aim of “accelerate bitcoin adoption”.STX saw a rise of 77% in just two hours, but then the price corrected and it has already accumulated an appreciation of approximately 44% since the announcement of the incentive program that wants to bring DeFi to Bitcoin.
Stacks is being developed by Blockstack PBC, founded by Muneeb Ali and Ryan Shea, with the aim of meeting the demand for smart contracts (smart contracts); decentralized applications (DApps); non-fungible tokens (NFT) and decentralized finance (DeFi) using the Bitcoin network as a base layer for these tools.
Stacks, MiamiCoin and Crypto Rio; Would Rio de Janeiro have an eye on the project?
THE stacks (STX) is the project being used by the mayor of miami – Francis Suarez – for the creation of the MiamiCoin that wants to fund the city’s utilities using mining and DeFi for Bitcoin to earn income in STX and BTC.Know more: Miami will launch cryptocurrency to finance public services We don’t know if Rio de Janeiro will follow the same path in Brazil, but we already know that Eduardo Paes met with Francis Suarez a few times to discuss the implementation of a similar tool in his municipal treasury, with the creation of Crypto Rio.Know more: Rio de Janeiro will create its own cryptocurrency and invest 1% of the Treasury in crypto, says the mayor great investment on the Brazilian exchange, foxbit.What do you think? Leave your opinion in the comments on social networks | Telegram | twitter | Facebook | Instagram | of Thegarret!Buy Bitcoin on Coinext
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