Lumerin’s New Collaboration with Portal DEX
CHICAGO, February 22, 2024 – Lumerin, the innovative decentralized Hashpower Marketplace built on Arbitrum, announces a strategic partnership with Portal, a fintech provider revolutionizing cross-chain swaps without bridges or custody. This collaboration marks a significant development for the Bitcoin mining community and the broader cryptocurrency market.
Unveiling New Opportunities for Miners
Enhanced Security and Revenue Consistency for Bitcoin Mining
The integration with Portal introduces a new era of decentralized Bitcoin mining and cross-chain hashpower trading. By leveraging Portal’s Swaps SDK, Lumerin aims to navigate the challenges miners face due to regulatory changes, energy policies, and market volatility. This partnership is especially timely, considering the upcoming Bitcoin Halving event on April 19, 2024, which will halve the mining reward.
Lumerin’s marketplace enables miners to sell Bitcoin hashpower contracts directly, using Lumerin’s native token (LMR) for transactions. This initiative seeks to stabilize miners’ revenue and enhance payment liquidity.
Portal’s Cutting-Edge Atomic Swap Technology
Seamless Cross-Chain Transactions and Token Swaps
Portal’s Layer 2 atomic swap technology allows Bitcoiners to effortlessly exchange BTC for Lumerin tokens and trade Ethereum’s Layer 2 tokens directly. This integration significantly simplifies transactions between blockchains and eliminates the need for complex Layer 2 bridges, saving time and money for users.
Virgin Bitcoin and Privacy Solutions
Access to Pristine Bitcoin Through Lumerin
The collaboration also caters to the growing demand for privacy in the cryptocurrency industry. Through Lumerin, users can acquire “virgin” Bitcoin – freshly mined bitcoins with no previous transactions, ensuring privacy and eliminating the risk of coins involved in illicit activities.
The Future of Hashpower Contracts
NFT Evolution and Cross-Chain Trading
Lumerin’s hashpower contracts are set to transform into NFTs, broadening accessibility and facilitating a secondary market. This development will enable the trading of single-chain NFT contracts against various digital assets across multiple chains, including Bitcoin. Portal has demonstrated successful cross-layer, cross-chain swaps of NFTs, underscoring the potential for innovation in the sector.
About Lumerin and Portal
Lumerin is at the forefront of Web3 data stream routing, offering decentralized trading of Bitcoin hashrate as a liquid asset. Portal, established in 2019, is dedicated to advancing financial self-sovereignty and enhancing access to Bitcoin and cryptocurrency markets through its pioneering technology.
For more information on Lumerin and Portal’s groundbreaking integration, please visit their websites at https://lumerin.io and https://portaldefi.com, respectively.
