MatrixPort and exSat Form Comprehensive Strategic Partnership to Advance Bitcoin Ecosystem Innovation

Singapore, September 18th, 2024 – MatrixPort, a prominent digital asset financial services platform, has announced a strategic partnership with exSat, a pioneering scalability solution for Bitcoin. This collaboration aims to enhance the growth and applicability of the Bitcoin ecosystem, ushering in a new phase in Bitcoin development.

MatrixPort serves as a global, comprehensive digital asset service provider, equipped with substantial industry expertise, advanced technology, and a broad user base. It offers secure, user-friendly, and efficient trading and wealth management services for digital assets. Meanwhile, exSat Network is dedicated to creating unique scalability solutions for Bitcoin. Its On-Chain UTXO data index and one-second instant transaction confirmation provide enhanced scalability, functionality, and interoperability for the Bitcoin network, facilitating new application scenarios.

The partnership takes advantage of the strengths of both companies, offering numerous benefits to the Bitcoin ecosystem. MatrixPort’s vast experience and user base will promote the swift development of exSat, while exSat’s innovative solutions will enhance the investment opportunities and overall experience for MatrixPort users. Together, they are focused on increasing Bitcoin adoption and utility, revitalizing the ecosystem, and generating greater value for users globally.

The strategic partnership will concentrate on several key initiatives:

Unlocking Bitcoin Liquidity: A New Era of BTCFi
MatrixPort plans to launch nBTC on the exSat platform, a new Wrapped BTC product that is fully backed by Bitcoin. The goal is to provide between 5,000 and 10,000 nBTC on the exSat mainnet to enhance liquidity and support the exSat’s PoW+PoS consensus mechanism.

The introduction of nBTC will serve as a bridge between Bitcoin and the exSat ecosystem, enabling seamless interoperability. Users will be able to convert native Bitcoin into nBTC through MatrixPort and utilize it on the exSat platform for various applications such as staking, lending, and trading.

This issuance of nBTC is significant given that 94% of Bitcoin has already been mined, with benefits including:

• Unlocking Bitcoin Liquidity: Bringing inactive Bitcoin assets into the DeFi sector and boosting liquidity on the exSat platform.
• Expanding Bitcoin Applications: Utilizing exSat to broaden the potential use cases for Bitcoin.
• Enhancing User Experience: By leveraging exSat’s efficiency, users will benefit from faster and more cost-effective transaction and wealth management services, fostering the greater use of Bitcoin.

Empowering Innovation and Expanding the exSat Ecosystem
MatrixPort will drive the development of innovative decentralized applications (dApps) on the exSat platform, working towards a more open and prosperous Bitcoin ecosystem. Focus areas will include:

• BTCFi On-Chain Applications: Supporting nBTC staking, trading, and lending applications on the exSat chain to enhance on-chain asset liquidity and diversify financial services.
• Real World Assets (RWA): Enabling the tokenization of real-world assets, such as renewable energy assets, to create new liquidity opportunities.
• Cross-Chain Interoperability: Connecting exSat with the BTC ecosystem for a wider distribution of value.

This collaboration will provide comprehensive support for ecosystem developers, offering technical assistance and marketing resources to help bring their innovative ideas to fruition and drive the growth of the exSat ecosystem. Together, MatrixPort and exSat aim to deliver greater value for participants in the Bitcoin ecosystem, facilitating the preservation and enhancement of digital assets while ensuring sustainable and secure growth for Bitcoin.

Building a Secure Bitcoin Ecosystem
Both MatrixPort and exSat understand that security is vital for the development of the Bitcoin ecosystem. They will strategically collaborate to establish a strong on-chain security defense to protect user assets.

The partnership will utilize MatrixPort’s extensive security expertise alongside exSat’s advanced blockchain technology to enhance security across multiple dimensions:

• Multi-signature Technology: Exploring decentralized multi-signature solutions to offer safer asset management options for users.
• Security Standards: Developing and promoting BTC asset security specifications and risk management systems to improve security awareness and capabilities within the ecosystem.
• Security Monitoring: Utilizing MatrixPort’s security resources for thorough monitoring of BTC assets on the exSat platform to identify and mitigate potential risks in line with industry standards.

By prioritizing a secure and trustworthy Bitcoin ecosystem, MatrixPort and exSat aim to ensure that users can engage confidently and capitalize on the value and opportunities that Bitcoin provides. They will continue to enhance security measures, safeguarding user assets while promoting healthy growth in the Bitcoin ecosystem.