Introducing RichSwap: A Game-Changer in Bitcoin DeFi

RichSwap is the first AMM DEX designed for trustless on-chain runes trading, eliminating the need for bridges, wrapping, custodians, or off-chain software. This innovative platform allows users to execute transactions entirely on the Bitcoin network, ensuring that users maintain full custody of their assets in their Bitcoin wallets without needing to deposit or withdraw to any platform.

The Runes Exchange Environment (REE)

Launched on the new Runes Exchange Environment (REE) from Omnity Network, RichSwap marks a significant step in Bitcoin’s evolution into a programmable and decentralized financial platform. REE is a powerful toolkit enabling developers to create DeFi products directly on Bitcoin, replicating popular concepts from other blockchains without requiring changes to Bitcoin core or the use of nonstandard opcodes.

Verifiable and Trustable BTCFi

One of the core strengths of Bitcoin is its security and decentralization, but its limited programmability has often restricted its use in complex financial applications. REE addresses this by utilizing Partially Signed Bitcoin Transactions (PSBTs), making transactions verifiable and trustable. The use of BIP-174 and BIP-370 standards ensures that once a PSBT is signed, all transaction inputs and outputs are defined by the user, preventing any alterations by REE itself.

Enhanced Trading Experience

Users of RichSwap can experience a 100x reduction in swap time while retaining custody of their assets throughout the trading process. With no limit on the number of PSBTs that can be bundled together, users can conduct multiple trades securely within a single Bitcoin block.

An Open-Source Blueprint for Developers

RichSwap is designed to serve as an open-source blueprint for Bitcoin developers, allowing them to create innovative DeFi applications on REE, such as lending protocols, staking platforms, and stablecoin systems. The composability of REE enables BTCFi protocols to share liquidity and asset pools, facilitating broader adoption of PSBTs as a standard and runes as a recognized asset class.

Omnity Network’s Runes Exchange Environment is driving the evolution of on-chain Bitcoin DeFi, with RichSwap leading the charge for transparent and verifiable trading of Bitcoin runes. The Omnity Hub connects to multiple blockchains, supporting runes, fungible BTC, and BRC20 assets, marking a significant advancement in the Bitcoin ecosystem.