San Francisco, 09 February 2025 (Globe Newswire) – Via IBN – Richwap Is the first AMM DEX for trestless runs on chains that trade without bridges, wrapping, keeper, off-chain software or individual failure points. Transactions are fully carried out on the Bitcoin network or are completely rolled back, which protects users of extortion. Users retain full custody of their assets in their bitcoin wallet without having to deposit on a platform or withdraw.
Richswap has been launched on the new Runes Exchange Environment (Ree) From the Omnity network. Ree marks the start of the evolution of Bitcoin in a programmable and decentralized financial platform. It is a powerful toolkit for the directly on Bitcoin development of Defi products. Ree Turing-Complete Ree offers developers the tools to replicate EVM, Solana and other common Defi concepts on Bitcoin. Unlike competing solutions, REE does not require any changes to the Bitcoin core, no bridges in other block chains or any other expansion of Bitcoin such as non -standard OPCODES.
Ree makes BTCFI verifiable, reliable and standard
Bitcoin is the world’s most safe and decentralized blockchain, but the limited programmability limits its use in complex financial applications. Unlike accounts-based block chains such as Ethereum, Bitcoin works on the Utxo model (unspoken transaction output). Each transaction output is a unique reference, in which the fungic properties of Bitcoin are embraced and at the same time introduces complexity in applications and data.
The UTXO model of Bitcoin is integral for REE because REE partially signed Bitcoin transactions (PSBTs) uses, standardized via BIP-174 And BIP-370. Almondity Decentralized PSBT signor (DPS) Orchestres PSBTs in a publicly verifiable way. Transactions are fully executed or completely reversed, making the front impossible due to design. Once a PSBT is signed, all transaction inputs and outputs are defined by the user and they cannot be changed, even by Ree itself.
Users who exchange on deer, enjoy a 100x reduction of the swap -while they retain custody of their assets during the entire process. Because there is no limit to the number of PSBTs that are bundled together or the speed of PSBT production, multiple transactions per user can take place safely within a single bitcoin block.
“DPS allows one user and multiple protocols to sign a transaction together with the help of PSBTs and send it to the Bitcoin network. Ree coordinates this multisig process, “said Louis Liu, founder of Omnity. “I believe that DPS is the best technical approach to achieve full programmability on Bitcoin layer 1.”
Richswap to be open-source blueprint for Bitcoin developers
The new, optimized flexibility of the Runes Standard enables developers to build innovative Bitcoin Defi applications, such as lending protocols, stake platforms and Stablecoin systems on Bitcoin. Ree’s Richswap AMM Dex is designed as an open-source blueprint for BTCFI developers. By uniting the treatment of bitcoin and bitcoin assets, Richswap offers a tangible example of the Utxo-based Exchange-Pool model of Ree that is presented in the same way as account-based blockchains.
With the composition of REE, BTCFI protocols can share liquidity, assetools and other Defi -logic. This enables other protocols to take advantage of the REE environment, while liquidity directly from existing assetools bootstrapping. In addition, Ree includes configurations for reimbursement organization and income exchange. Ree stimulates the evolution of Bitcoin Defi on the chain, which facilitates a broader acceptance of PSBTs as a standard and runs as a recognized asset class.
Omnity network‘s Runes Exchange environment (Deer) Introduces a programmable version tool kit for BTCFI as presented in Richswap, the non-guardianship, the non-complainant, Bridgeless AMM DEX for the transparent and verifiable trade of Bitcoin-Runen. The Omnity network is a series of permissionless, non-framed, Bitcoin products on chains protected by ICP’s chain key Cryptography and Multi-Party Computation (MPC) Network of Bitcoin node operators. The flagship product, the Omnity HubMakes a connection with 18 different block chains with verifiable light clients that run, fungible BTC and BRC20 assets.
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Suzanne Leigh
Editor
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Omnity network
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