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Singapore, Singapore, April 4th, 2024, Chainwire

LeverFi, a leading web3 innovation team, has launched OmniZK, a secure validation protocol for Bitcoin that enables developers to create complex, interoperable DeFi applications by shifting complex logic onto EVM networks and relay verified outcomes with zkOracles. The protocol’s modular design allows non-custodial, decentralized contracts to be settled natively on the Bitcoin network in a secure.

LeverFi is proud to announce the launch of OmniZK, a groundbreaking secure validation protocol for Bitcoin that expands the possibilities for DeFi and omnichain interactions. By allowing developers to shift complex computations onto EVM layers and relay verified event outcomes back to the Bitcoin network, OmniZK enables the creation of programmable, interoperable native applications on Bitcoin that are scalable and capable of handling complex scenarios.

Enabling Bitcoin DeFi and complex logic for Bitcoin

Bitcoin Script’s Turing-incomplete nature has long been a barrier to the development of complex applications on the Bitcoin network, making the development of decentralized finance (DeFi) applications on Bitcoin especially challenging.

OmniZK solves this issue by providing a modular framework for constructing conditional, non-custodial Discreet Log Contracts (DLCs) secured by event proofs generated by zkOracles. OmniRelayers, running in a Trusted Execution Environment, are restricted to only transmitting and signing for verified event outcomes, thereby producing robust security for contract settlement within the Bitcoin network.

With the OmniZK SDK, developers can easily build and deploy DLC applications that utilize verified event data from any EVM network for contract settlement finality on Bitcoin. This empowers various interchain Bitcoin use cases, including non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management.

“OmniZK is a significant step forward for Bitcoin DeFi and interoperability,” said Charissa K, Head of Developer Relations at LeverFi. “By enabling secure, non-custodial contracts that settle natively on the Bitcoin network and providing an alternative to centralized bridges, we’re unlocking a new era of possibilities for Bitcoin developers and users alike.”

Applications built using OmniZK are independent of yet complementary to Bitcoin L2s, as they interact with and communicate with L2s, but with final settlements done natively on Bitcoin, outside of the L2s. 

An example can be an application that issues a chain-agnostic wrapped BTC asset that can be freely minted, burned or transferred, without having the underlying BTC being custodied on a L2 multi-sig bridge.

This places OmniZK at an interesting nexus of the rapidly growing Bitcoin ecosystem and offer alternatives to developers and users who wish to build and settle within the native Bitcoin layer.

LEVER Staking Program and Benefits

The LeverFi ecosystem, which includes the OmniZK protocol, are powered by LEVER, its ecosystem token which is easily accessible on leading global exchanges including Binance, Bybit, Bithumb, Gate and more.

OmniRelayers who wish to participate in the security, functioning and governance of the OmniZK network are required to stake LEVER to join as operators to earn staking rewards and contract gas fees. There will also be a delegation program for users to stake with validators and enjoy the benefits of LEVER staking.

In addition to the above, LEVER confers a wide range of benefits including gated access to its LeverPro launchpad for high potential Bitcoin DeFi projects and reduced fees on its EVM-based non-custodial swap platform.

LeverFi invites developers and validators to explore the potential of OmniZK and start building the next generation of Bitcoin DeFi applications.

About LeverFi

Backed by world-class investors, LeverFi is a leading web3 innovation firm that continually reimagines the boundaries of decentralized finance. With its latest roadmap, LeverFi is set to break new ground and create new possibilities for Bitcoin and global web3 ecosystems.

For more information, users can learn more about LeverFi here: https://leverfi.io

Developers and validators looking to explore OmniZK may register interest by contacting our Head of Developer Relations at this email: [email protected]

Contacts ZR
[email protected]
Lawrence
LeverFi
[email protected]

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

LeverFi (LEVER) is a decentralized finance (DeFi) protocol on the Ethereum Blockchain that aims to optimize asset efficiency and trading. LeverFi addresses the pain points of existing DeFi protocols by offering a range of features designed to reduce risks, provide sustainable returns, and optimize asset management. In this article, you can find answers to two frequently asked questions: What is LeverFi (LEVER) and how to buy LeverFi (LEVER) with TRY.

What is LeverFi (LEVER)?LeverFi is a non-custodial, on-chain leveraged trading protocol designed to enhance asset efficiency within the DeFi ecosystem. Asset efficiency refers to the effective use of time and assets to maximize returns while minimizing risks and costs. LeverFi provides users with transparency and self-custody over their assets, offering a seamless trading experience while mitigating common DeFi issues.

Investors on LeverFi have the opportunity to manage their yield-generating assets within a single collateral basket, allowing them to take larger trading positions while reducing liquidation risk. Additionally, investors can earn yields while trading on margin, and the protocol routes transactions through various trading protocols to ensure optimal pricing and minimal slippage.

Lenders on LeverFi can earn real yields by lending their assets to traders without being exposed to directional risks. LeverFi’s robust protocol design facilitates secure and non-custodial interactions between lenders and traders, offering highly competitive and sustainable returns.

LeverFi operates through four main components: the Collateral Manager, Trading Manager, Lending Manager, and Risk Manager. Supported by smart contracts, these components facilitate tasks such as collateral management, trade execution, yield accrual, and risk management within the protocol.

LeverFi stands out in the DeFi environment for several reasons. It allows investors to earn yields and leverage trades simultaneously, offers transaction settlement on the protocol, and enables the consolidation of assets into a unified collateral basket for cross-margin trading. LeverFi also prioritizes optimized asset pricing, enhanced investor support, and competitive real yields in the market.

LEVER coin is the mainnet asset of the LeverFi ecosystem, serving both as a governance token and a tool for users to stake and earn rewards. LEVER holders can participate in protocol governance and stake their tokens to earn a portion of the platform fees generated from user activities.

How to Buy LeverFi (LEVER) with TRY?Binance TR is the most suitable cryptocurrency exchange for investors in Turkey looking to buy LeverFi (LEVER). On Binance TR, where you can quickly create an account, you can buy and sell over 100 cryptocurrencies, including LEVER. To buy LeverFi (LEVER) with TRY on Binance TR, follow the steps below.

How to Open an Account on Binance TR?Opening an account on Binance TR is quite easy. To do this, go to trbinance.com and continue from the “Create Account” step. In the first step of account creation, you will be asked to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.

After entering the requested information completely and accurately, an email/SMS verification will be performed to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).

How to Verify an Account on Binance TR?Identity verification on Binance TR is one of the security procedures that must be completed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process either from your phone or through the official Binance TR website. Note that you will need your mobile phone to perform identity verification from the website.

On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” In the next step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, click on the “Copy URL” option to send the identity verification address to your phone via SMS.

When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, continue by tapping on the “Identity” option first.

Then a screen like the one below will appear. To continue the verification process, first select the document type that is suitable for you and continue.

After selecting the document type, continue by tapping on the “Upload Front Side” option. After taking a photo of the front side of the document according to the document type you selected, tap on the “Upload Back Side” option and take a photo of the back side of the document and upload it. Make sure that the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.

Then continue by tapping on the “Selfie” option. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure that your face fills the camera area as much as possible once the camera opens.

After completing all these steps accurately and completely, your identity verification process will be completed shortly.

How to Deposit TL on Binance TR?You can easily deposit TL into your Binance TR account through all banks. You can deposit and trade seamlessly 24/7 from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 via FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.

To deposit money into your Binance TR account, first go to trbinance.com, hover over the “Wallet” option at the top left of the homepage, and click on the “Deposit” option from the drop-down menu.

Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If the bank you prefer is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.

In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can transfer funds via wire transfer, EFT, or FAST. All you need to do is use the information displayed on the page of your preferred bank to transfer the amount you want to deposit into your Binance TR account via wire transfer, EFT, or FAST.

Once your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.

How to Buy LEVER Coin with TL on Binance TR?After the deposit process, you can proceed to the step of buying LEVER coin with TL by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.

After clicking on this option, the following page will open. On the right side of this page, type “LEVER” in the search box and click on the LEVER/TRY option from the results to go to the LEVER purchase page with TL.

Now the following LEVER trading page will open. On this page, in the red-marked area, you need to enter the price at which you want to buy LEVER in the first box and the number of LEVER you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy LEVER” button.

What is Binance TR?Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.

Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.

Users supported by Binance’s core functions can access market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Formerly known as RAMP DEFI, LeverFi is a decentralized leverage trading platform. In March 2022, the team behind RAMP DEFI rebranded to adapt to the DeFi market. The rebranding aims to address current issues in the DeFi market, such as the lack of sustainable TVL and utility.

The team behind LeverFi hopes to create a product that allows users to invest and farm simultaneously, providing value. Lenders deposit funds into lending pools and earn interest from borrowers who trade with leverage up to 10X. Any unused liquidity from lenders is invested in other DeFi protocols for additional yield.

LeverFi also aims to serve as a bridge for Ethereum and EVM-compatible chains such as BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism.

The primary scenario for LeverFi is to create a unique solution for investors by integrating investing and farming into a single platform. Users can deposit collateral as single assets like Bitcoin, Ethereum, Curve liquidity provider tokens (LP), and Uniswap LP, and then combine their collateral to trade with larger positions.

The platform also supports users participating in leveraged trading pair trades or hedging transactions while allowing users to use the platform alongside DEX/CEX derivatives.

On the other hand, LeverFi charges a 1% transaction fee for each trade. Additionally, LeverFi directs investment to pre-existing DeFi protocols and decentralized exchanges. For example, when a user wants to invest in an asset on the platform, the asset is purchased from a liquid secondary market through DEXs. LeverFi does not act as a counterparty to its users and thus claims not to engage in “player versus player” or PvP behavior, as there is a conflict of interest.

The Singapore-based RAMP DEFI project was founded in 2019 by Lawrence Lim and Loh Zheng Rong. They rebranded the platform together and launched LeverFi three years later.

Additionally, the LEVER token is a governance token. LeverFi has a maximum supply of 35 billion tokens. Users can participate in the protocol’s governance if they lock LEVER for 6 to 48 months. Each token represents one vote and allows users to oversee issues related to adding or removing collateral, lending pools, tradable assets, etc.

How to Buy LEVER Coin?LEVER Coin can be purchased quickly and securely via Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.

To buy LEVER Coin, you first need to sign up for Binance and then send fiat money. After sending fiat money, such as  dollars, you can buy LEVER by purchasing BUSD and Tether (USDT) where LEVER is traded.

Additionally, users can place a purchase order at a lower value than the market value on Binance and buy at the desired price. To do this, you need to use the Limit tab and enter the amount you want to buy and the price you want to buy it at.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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