PRESS RELEASE. AscendEX is eager to announce the listing of the BTC Proxy token (PRXY) under the trading pair USDT/PRXY on Sept. 24 at 1 p.m. UTC. To celebrate the listing, AscendEX and the PRXY team will launch a number of limited-time promotional events, taking place between 1:00 a.m. UTC, on Sept. 24, and 12:00 a.m. UTC, on Oct. 1, 2021, offering users a chance to share pooled rewards up to 60,000 USDT!
BTC Proxy is a multi-institutional protocol for the decentralized tokenization of Bitcoin on ERC20, utilizing a Proxy Protocol called the “Proxy Relay”. The protocol gives Bitcoin holders a decentralized bridge to stake their Bitcoins into custody and transfer that value into an ERC20 token without the need for centralized exchanges and systems that exponentially increase the counterparty risk of theft or loss. Independent of liquidity conditions, BTC Proxy allows for the transfer of value without price slippage, directly affecting prices on exchanges.
Improving on the design of wrapped token protocols,…