Lifeform Token is Officially Launching on Bybit and KuCoin Exchange
What Can Lifeform Bring To WEB3 And BTC Ecosystem? — True Interconnectivity And Interoperability
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May 14, 2024, 10:00 PM ET
New York, May 14, 2024 (GLOBE NEWSWIRE) -- As a pioneer in the DID field, Lifeform continuously fulfills its mission amidst the BTC wave, contributing to the development of the BTC ecosystem. Lifeform token has announced the official launch on Bybit and kuCoin exchange, trading commences on 15th May, 2024.
Lifeform, supported by investments from a host of prominent institutions, excels in focusing on the mentioned two objectives. Let us explore how Lifeform is executing its DID blueprint.
Unlike other DID solutions that are constrained by the specific characteristics of different public blockchains, thereby limiting their cross-chain capabilities and application scopes, Lifeform offers full-chain domain names with .btc services. It is the first platform to support multi-blockchain domain name resolution (including, but not limited to, Bitcoin, Ethereum, BNB Chain, Solana, Base, Avalanche, and OPBNB) as an all-in-one domain resolution platform. This platform has already implemented mappings for .eth, .bnb, .sol, .arb, and other domain names under the Lifeform Universal Domain .btc, enabling functionalities such as cross-chain transactions, multi-chain asset inquiry, multi-channel integration, interactive social networking, and cross-chain finance.
In its roadmap, Lifeform also proposes collaborations with various wallets to integrate the .btc domain SDK into exchange wallets; its plan for supporting seamless interaction across multiple Layer1 and Layer2 networks.
Lifeform leverages its technological edge in AI to analyze cross-chain activities. By profiling users based on their asset management behaviors, Lifeform provides tailored recommendations for blockchain services, tokens, or dApps.
Particularly for Web2 users who hold substantial amounts of idle BTC assets, Lifeform facilitates easy linkage to BTC Layer2 protocols, such as decentralized staking protocols characterized by stable yields and DeFi Machinegun Pool. This approach enhances the possibility of earning additional income without the need to sell cryptocurrency assets.
In the future, Lifeform also plans to utilize AI to launch various practical smart devices, such as BTC Mobile and head-mounted displays. These innovations will contribute to the establishment of a free, unrestricted Bitcoin ecosystem mobile application store, providing comprehensive mobile solutions for the Bitcoin developer community.
In terms of presentation, Lifeform is a leader in visual DID. With advanced high-resolution engines, users can easily create any virtual avatar and link it with one click to Web2 streaming media for dynamic virtual persona manipulation. Ultimately, Lifeform aims to bring the next billion users into Web3. Users will not only possess a unique full-chain identity and social space, but in the near future, they will also be able to navigate through the AR & XR world using smart devices with the Universal Domain.
From Digital Gold to Application-Driven Asset
2024 is set to be a landmark year for Bitcoin: with the SEC finally approving the Bitcoin ETF, and the quadrennial halving event taking place. If prior to 2024, Bitcoin DeFi applications were merely tethered as value anchors, the subsequent approval has shifted BTC from merely being the digital gold of the crypto world to a truly application-driven asset.
One manifestation is that, spurred by the rapid rise of inscriptions last year, a plethora of Layer2 projects aimed at constructing new scaling solutions on Bitcoin sprang up like mushrooms after rain, with the TVL in DeFi surpassing the $2 billion mark. However, at the same time, Bitcoin, which has followed a developmental path similar to Ethereum, has replicated the same issues: Layer2 solutions are not the panacea for enhancing scalability. As economic activities between various protocols become segregated, forming a barrier to blockchain interoperability, the construction of "bridge builders" is inevitably seen as a crucial element in this transformation, with Decentralized Identities (DID) being an important part of this process.
As other application-specific public blockchains have developed their own representative DID projects, Bitcoin ecosystem has seen the emergence of service providers like Lifeform.
Over the past year, Lifeform has raised $400 million in valuation through two funding rounds, with investments from notable institutions such as Binance, IDG Capital, GeekCartel, Foresight Ventures, KuCoin Labs, and SevenX Ventures, whose actions are becoming increasingly influential.
Joanna Simpson
[email protected]
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