A group of developers has positioned Uniswap’s smart contracts onto the Bitcoin network to capitalize on the rise of BRC-20 tokens and develop the decentralized finance (DeFi) ecosystem. Called Trustless Market, the protocol has racked up daily volumes of $500,000, attracted over 2,000 users, and lets liquidity providers earn a 2% cut on all swaps conducted on the network. DeFi relies on automated smart contracts to provide financial services, such as lending and borrowing, to users. Nearly $47 billion worth of tokens are locked on such protocols, DefiLlama data shows.
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