{"id":215009,"date":"2024-03-19T21:25:18","date_gmt":"2024-03-19T21:25:18","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/19\/palladium-and-botanix-labs-launches-bitcoin-native-stablecoin-on-bitcoins-first-evm-layer-2\/"},"modified":"2025-06-25T17:20:21","modified_gmt":"2025-06-25T17:20:21","slug":"palladium-and-botanix-labs-launches-bitcoin-native-stablecoin-on-bitcoins-first-evm-layer-2","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/19\/palladium-and-botanix-labs-launches-bitcoin-native-stablecoin-on-bitcoins-first-evm-layer-2\/","title":{"rendered":"Palladium and Botanix Labs Launches Bitcoin-native Stablecoin on Bitcoin\u2019s First EVM Layer 2"},"content":{"rendered":"

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Palladium<\/a> and Botanix Labs<\/a> have announced the launch of a new stablecoin, PUSD, on Bitcoin’s first EVM-equivalent Layer 2 network, according to a press release sent to Bitcoin Magazine.<\/p>\n

The PUSD stablecoin, developed by Palladium Labs, boasts a unique feature of being over-collateralized by 110%, a strategic measure aimed at enhancing its resilience against potential risks inherent in DeFi infrastructure. Importantly, the stablecoin’s algorithmic monetary policy attempts to remain immune to governance changes or manipulation by administrator keys, aiming to ensure its integrity and reliability.<\/p>\n

\u201cTo realize the true value of decentralized finance, crypto needs to break free from infrastructure that is susceptible to exploits and manipulation,\u201d\u00a0stated Palladium Labs CEO Akash Gaurav.\u00a0\u201cAt Palladium, we designed this stablecoin for resilience and reliability.\u00a0By leveraging the unique capabilities of the Botanix EVM, we can radically increase the security and reliability of stablecoin access for millions of people using Bitcoin.\u201d<\/p>\n

Operating on the Botanix EVM, which has been in development since early 2023, Palladium leverages the capabilities of this platform to enhance the security and accessibility of stablecoin transactions for Bitcoin users. The Botanix EVM’s underlying sidechain protocol, known as the Spiderchain, plays a pivotal role in safeguarding funds transferred from the Bitcoin base layer to the EVM network.<\/p>\n

\u201cThe importance of native stablecoins to the technological renaissance happening on Bitcoin cannot be overstated,\u201d\u00a0said Willem Schroe, inventor of the Spiderchain and co-founder of Botanix Labs.\u00a0\u201cWe are thrilled to support the Palladium team in launching their over-collateralized stablecoin on our EVM network.\u201d<\/p>\n

With the launch of PUSD on Bitcoin’s first EVM Layer 2 network, Palladium and Botanix Labs aim to meet the growing demand for secure and efficient DeFi solutions, seeking to pave the way for a new era of financial innovation on the Bitcoin blockchain.<\/p>\n

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[ad_1] Palladium and Botanix Labs have announced the launch of a new stablecoin, PUSD, on Bitcoin’s first EVM-equivalent Layer 2 network, according to a press<\/p>\n","protected":false},"author":1,"featured_media":215010,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/215009"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=215009"}],"version-history":[{"count":3,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/215009\/revisions"}],"predecessor-version":[{"id":336052,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/215009\/revisions\/336052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/215010"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=215009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=215009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=215009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}