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Liquality Integrates Rootstock and Boosts Bitcoin DeFi Visibility

Published on: 22 December, 2020

Accessing the Rootstock ecosystem has become a lot easier thanks to Liquality. Users of this cross-chain supportive wallet can now experiment with Rootstock DApps, atomic swaps, and much more. This is a significant step forward for the entire cryptocurrency ecosystem.

The Main Purpose of Liquality

In this day and age, cryptocurrency wallet users want to do more than just sending and receiving funds. Wallets need to become a gateway to accessing the broader cryptocurrency industry. 

Liquality is a powerful multi-crypto wallet with the ability to send, swap, hodl and more. It offers a smooth experience for anyone passionate about cross-blockchain interoperability. Liquality has now added Rootstock to its supported protocols alongside BTC/ETH and ERC20-based tokens.

It is now possible to leverage atomic swaps between BTC and RSK, in one click, establishing one of the easiest and most secure ways to swap crypto across blockchains. Performing such an atomic exchange takes roughly 11 minutes and features guaranteed execution or your funds returned. 

As Liquality is a browser extension wallet, it is very convenient to use and set up. There are no account requirements or user verification procedures. This wallet is non-custodial, ensuring users control their assets directly. Leveraging atomic swaps ensures there are no intermediaries when exchanging assets through the wallet, creating a trustless environment. Furthermore, users can import or export their BIP39 mnemonic seed phrases at their leisure. 

It is easy to draw parallels between Liquality and MetaMask, yet their approach is different. Whereas MetaMask is Ethereum-oriented, Liquality Wallet supports Bitcoin, Ethereum Web 3, and Rootstock. All of this also makes it easier to send, receive, swap and hold assets across these different ecosystems. 

Accessing the Rootstock Ecosystem

Following the integration of Rootstock, users of Liquality have a new ecosystem to explore. Exploring the different DApps or converting assets between the RSK chain and any other supported blockchain are just two possible options. You can find more information about Rootstock’s atomic swaps here.

As things stand, users can perform atomic swaps between RBTC (Bitcoin on Rootstock) and the following currencies:

  • BTC
  • ETH
  • USDC
  • DAI
  • USDT
  • WBTC
  • UNI

It is pertinent to note that Liquality Wallet has facilitated over $4 million of atomic swaps to date without any loss of funds. 

After performing an atomic swap and acquiring RBTC, users can begin exploring the different Rootstock DApps. One of the recent offerings, called Sovryn, offers lending, borrowing, and margin trading functionality. This DeFi for Bitcoin platform is something DeFi users have been looking for in recent months given the prevalence of synthetic forms of Bitcoin. Sovryn let’s you keep your bitcoin as bitcoin whilst earning a yield.

More DApps on Rootstock will be developed over time, giving users even more options to explore. Download the Liquality Wallet from the Chrome Store today to see what is now possible on Rootstock. Make sure to check this video for further information.