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- 🚀 Gate $PUMP Futures Trading Challenge is Now Live!
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The founder of Cardano launched the first Decentralized Finance protocol Cardinal that supports Bitcoin interoperability.
Gate News bot message, Cardano founder Charles Hoskinson officially announced the launch of the Cardinal protocol on the Cardano Blockchain. This is the first DeFi protocol in the Cardano ecosystem to achieve non-custodial cross-chain for Bitcoin.
The Cardinal protocol uses MuSig2 multi-signature technology, allowing users to directly participate in lending and staking activities on the Cardano blockchain through Bitcoin UTXO. The protocol also supports using Ordinals inscriptions as collateral. The technical architecture includes the BitVMX off-chain verification system and achieves interoperability with public chains such as Ethereum and Solana.
Source: Wu Says