Press release
As the traditional banking system experiences increasing instability with the failures of Silicon Valley Bank, Signature Bank, Silvergate Bank and Credit Suisse, more people are turning to decentralized finance (DeFi) as a safe and attractive alternative. DEX verse, As a result, the decentralized exchange Bitcoin.com has been flourishing, enjoying a rapid increase in total value locked (TVL) and gaining recognition as a trusted haven from traditional banking woes.
Over the past few weeks, the Verse DEX has witnessed a TVL increase of almost 300%, surpassing the $15 million mark. This impressive growth has fueled Bitcoin.com decentralized exchange in the 13th highest ranked DEX on Ethereum and 66th overall. To further strengthen its offerings, Bitcoin.com is now launching VERSE Staking, allowing anyone to earn rewards for depositing VERSE tokens into the Verse DEX. here.
Dennis Jarvis, The CEO of Bitcoin.com emphasizes the importance of the Verse DEX in the pursuit of economic freedom: “In Bitcoin.com, our mission is to create economic freedom in the world. Verse DEX is an essential component of that mission, providing people with a decentralized trading platform that promotes financial empowerment and independence. The remarkable growth of the Verse DEX in the TVL rankings shows the growing appeal of decentralized finance as an alternative to the increasingly unstable traditional banking sector. The Bitcoin.com ecosystem, including the VERSE token, is playing a vital role in promoting economic freedom and expanding access to financial opportunity in these uncertain times.”
Jarvis hinted that higher yields and other benefits will soon be made available to VERSE participants. “We are still developing the long-term betting mechanics, but they will likely include incentives for early bets. Additionally, those who stake the longest or perform certain actions will get boosters, creating additional value for users and the ecosystem.”
How VERSE fits into the Bitcoin.com Ecosystem
Launched in December 2022, the VERSE token is designed to incentivize users to progress on their crypto journey. By unlocking rewards throughout the levels, serving as a payment method in the The Bitcoin.com ecosystem and beyond, and by granting access to exclusive platform services, VERSE encourages people to participate and reap the rewards of the world of decentralized finance. VERSE rewards are currently available to early adopters through farming on the Verse DEX and the newly introduced staking opportunity.
Since launch, Bitcoin.com Verse has secured over 75 partnerships, integrations, and collaborations. Highlights include a strategic partnership with industry-leading MoonPay, fiat←→crypto onramp that allows anyone to buy The Bitcoin.com VERSE ecosystem token with local currency, auto-compounded via Beefy Finance of Verse Farms rewards to boost APY, and a wide range of DEX aggregators, analytics tools, and wallets.
about the verse
VERSE is the reward and utility token for users who contribute and participate in the Bitcoin.com ecosystem. The VERSE token is designed to broaden access to decentralized finance and help unlock the economic freedom it provides. Bitcoin.com’s Verse Multi-Chain DEX is a decentralized exchange based on an automated market maker that aims to give everyone permissionless and self-custodial trading access.
image credits: Shutterstock, Pixabay, Wiki Commons
