Portal to Bitcoin (PORTAL), a custodyless protocol facilitating atomic swaps across various blockchains, including Bitcoin, announced its native token, $PTB, is now available on several leading cryptocurrency exchanges. These include Binance Alpha & Futures, Kraken, KuCoin, Gate.io, Bitget, and MEXC. This expansion significantly enhances accessibility and liquidity for $PTB holders worldwide.
The company has experienced substantial growth recently. Its testnet has processed millions of transactions, and its Chrome Web Store application boasts over a million downloads. A high retention rate among active wallets indicates strong user engagement.
Portal‘s development has been supported by significant funding. The company raised over $92 million from prominent investors such as Coinbase Ventures, OKX Ventures, and Arrington Capital, along with contributions from institutional investors and notable figures within the blockchain industry. Furthermore, a substantial $50 million ecosystem fund, provided by Paloma Investments, will accelerate developer adoption and institutional integration. This fund aims to make Bitcoin the primary settlement layer for traditional finance, not just decentralized finance (DeFi).
Dr. Chandra Duggirala, CEO and Founder of Portal to Bitcoin, emphasized the importance of BitScaler, the company’s proprietary scaling technology. BitScaler enables Bitcoin to handle a wider range of transactions with increased throughput and lower fees than even the Lightning Network, without requiring modifications to the core Bitcoin protocol. It eliminates the need for bridges, layer-2 solutions, sidechains, or wrapped assets.
The $PTB token’s design rewards ecosystem participants. A small transaction fee is applied to all network swaps, with a portion burned to reduce circulating supply and create deflationary pressure. Incentives are structured to benefit liquidity providers, validators, and community members through airdrops.
Dr. Duggirala further explained that the token’s design ensures both short-term and long-term rewards for participants. Early contributors are directly rewarded for their contributions, while the burn mechanism helps sustain network expansion and utility.
Portal‘s ecosystem encompasses more than just swaps. The Portal Wallet offers multi-currency support with self-custody features and a built-in cross-chain decentralized exchange (DEX). A Swap Software Development Kit (SDK) simplifies integration for third-party wallets and DEXs. Additionally, RAFA-AI, an AI-driven investment copilot, assists professional traders with strategy and decision-making.
The founding team includes prominent figures from the blockchain and technology sectors. This includes Dr. Chandra Duggirala, inventor of BTC Layer 2 cross-chain atomic swaps; George Burke, a pioneer in Bitcoin and creator of the first Bitcoin debit card; and Manoj Duggirala, a Stanford-trained engineer with significant contributions to Apple‘s M7 core processor.
With its exchange listings, substantial funding, and growing user base, Portal to Bitcoin is poised to significantly impact the future of Bitcoin as a global financial foundation.
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