Omnity Network Launches RichSwap, a Non-Custodial, Bridgeless Runes AMM DEX for DeFi on Bitcoin

SAN FRANCISCO, Feb. 09, 2025 (GLOBE NEWSWIRE) — by way of IBN – RichSwap is the primary AMM DEX for trustless on-chain runes buying and selling with out bridges, wrapping, custodians, off-chain software program, or single factors of failure. Transactions are executed utterly on the Bitcoin community or rolled again in full, safeguarding customers from extortion. Customers retain full custody of their property of their Bitcoin pockets with no need to deposit or withdraw to any platform.

RichSwap has launched on the brand new Runes Exchange Environment (REE) from Omnity Community. REE marks the start of Bitcoin’s evolution right into a programmable and decentralized monetary platform. It’s a robust toolkit for creating DeFi merchandise straight on Bitcoin. REE’s Turing-complete compute setting presents builders the instruments to duplicate EVM, Solana and different widespread DeFi ideas on Bitcoin. In contrast to competing options, REE wants no adjustments to Bitcoin core, no bridges to different blockchains, or every other extension of Bitcoin akin to nonstandard opcodes.

REE Makes BTCFi Verifiable, Trustable, and Normal

Bitcoin is the world’s most safe and decentralized blockchain, however its restricted programmability restricts its use in advanced monetary purposes. In contrast to account-based blockchains like Ethereum, Bitcoin operates on the UTXO (Unspent Transaction Output) mannequin. Every transaction output is a singular reference, embracing the fungible properties of Bitcoin whereas introducing complexity in purposes and knowledge.

Bitcoin’s UTXO mannequin is integral for REE as a result of REE makes use of Partially Signed Bitcoin Transactions (PSBTs), standardized by way of BIP-174 and BIP-370. Omnity’s Decentralized PSBT Signer (DPS) orchestrates PSBTs in a publicly verifiable method. Transactions are executed utterly or rolled again in full, making front-running not possible by design. As soon as a PSBT is signed, all transaction inputs and outputs are outlined by the consumer and can’t be modified, even by REE itself.

Customers swapping on REE take pleasure in a 100x discount in swap time whereas retaining custody of their property all through the method. As a result of there is no such thing as a restrict to the variety of PSBTs bundled collectively or the speed of PSBT manufacturing, a number of trades per-user can happen securely inside a single Bitcoin block.

“DPS permits one consumer and a number of protocols to co-sign a transaction utilizing PSBTs and broadcast it to the Bitcoin community. REE coordinates this multisig course of,” stated Louis Liu, Founding father of Omnity. “I imagine DPS is the most effective technical strategy to reaching full programmability on Bitcoin layer 1.”

RichSwap to be Open-Supply Blueprint for Bitcoin Builders

The brand new, optimized flexibility of the runes token commonplace permits builders to construct revolutionary Bitcoin DeFi purposes on REE, akin to lending protocols, staking platforms, and stablecoin techniques on Bitcoin. REE’s RichSwap AMM DEX is designed to be an open-source blueprint for BTCFi builders. By unifying the dealing with of Bitcoin and Bitcoin property, RichSwap supplies a tangible instance of REE’s UTXO-based Trade-Pool mannequin presenting equally to account-based blockchains.

REE’s composability permits BTCFi protocols to share liquidity, asset swimming pools, and different DeFi logic. This allows different protocols to learn from the REE setting whereas bootstrapping liquidity straight from present asset swimming pools. Moreover, REE contains configurations for payment group and income sharing. REE is driving the evolution of on-chain Bitcoin DeFi, facilitating broader adoption of PSBTs as a typical and runes as a acknowledged asset class.

Omnity Network’s Runes Trade Atmosphere (REE) introduces a programmable execution toolkit for BTCFi as offered in RichSwap, Omnity’s non-custodial, bridgeless AMM DEX for the clear and verifiable buying and selling of Bitcoin runes. The Omnity Community is a set of permissionless, noncustodial, on-chain Bitcoin merchandise secured by ICP’s Chain Key cryptography and Multi-Get together Computation (MPC) community of Bitcoin node operators. Its flagship product, the Omnity Hub, connects to 18 totally different blockchains with verifiable mild purchasers supporting runes, fungible BTC, and BRC20 property.

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Suzanne Leigh
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zan@oct.community
Omnity Community

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