Gibraltar, United Kingdom, 25th April, 2022,
The Rootstock ecosystem continues to gain momentum in attracting DeFi protocols to the Bitcoin network. Blindex is one of the latest protocol developers to integrate their protocols with RSK. Now, the Blindex team launches two algorithmic stablecoins to the broader ecosystem – $bGBP (Great British Pound) and $bXAU (gold)
Rootstock has brought smart contract functionality to the Bitcoin network. The advent of Bitcoin DeFi has attracted attention from other projects seeking to leverage Bitcoin’s network security and RSK’s functionality. Blindex sees merit in this approach for stablecoins. The new $bGBP and $bXAU currencies will elevate Blindex to a new level.
As a producer of multi-currency stablecoin algorithms, Blindex wants to help stabilize the fiat money circulating worldwide. Fiat currencies are volatile and subject to depreciation, requiring a different approach to the current system. The integration of Blindex protocols with the RSK platform marks a crucial milestone toward achieving that goal.
Fiat currencies play a crucial role in cryptocurrency trading and other finance verticals. Blindex’s approach aims to remove the inherent volatility of currency assets like the US dollar, British Pound, or Euro. The team can achieve that goal through non-currency asset tokenization.
Blindex Contributor Omer Paz explains:
“What Blindex really is, is a mechanism for stabilizing digital assets at its core. The only thing that can stop us from stabilizing other “things” is only our imagination. Taking it further into the “real” world is our ambitious long-term vision, and it’s the thing that gets our team’s creativity levels up. There’s no doubt the crypto space, especially DeFi, is still in its infancy, which means it has a lot of room to grow and evolve. We see new implementations, services, and experiences surfacing almost daily. These new financial services have more flexibility and…
