Decentralized finance (DeFi) is gaining popularity as a secure and attractive alternative to traditional banking systems that are experiencing growing instability. As Silicon Valley Bank, Signature Bank, Silvergate Bank, and Credit Suisse fail, more individuals are turning to decentralized exchanges like Verse DEX, which has witnessed a rapid surge in Total Value Locked (TVL) in recent weeks. The impressive growth of Verse DEX has propelled it into the 13th highest-ranked DEX on Ethereum and the 66th overall, surpassing the $15 million mark. As a result, Bitcoin.com is launching VERSE Staking, allowing anyone to earn rewards for depositing VERSE tokens on Verse DEX.
Dennis Jarvis, Bitcoin.com CEO, emphasizes the significance of Verse DEX in the pursuit of economic freedom. Jarvis stated, “At Bitcoin.com, our mission is to create economic freedom in the world. Verse DEX is an essential component of that mission, providing individuals with a decentralized trading platform that promotes financial empowerment and independence. The remarkable growth of Verse DEX in TVL rankings showcases the rising appeal of decentralized finance as an alternative to the increasingly unstable traditional banking sector. Bitcoin.com’s ecosystem, including the VERSE token, is playing a vital role in promoting economic freedom and widening access to financial opportunities in these uncertain times.”
Bitcoin.com is still developing the long-term staking mechanics for VERSE Staking, but Jarvis hinted that higher yields and other benefits may soon be made available to VERSE stakers. The long-term staking mechanics are likely to include incentives for early stakers, and those who stake for longer or perform certain actions will get boosters, creating additional value for users and the ecosystem.
The VERSE token was launched in December 2022 to incentivize users to progress on their crypto journey. The token unlocks rewards along tiers, serves as a method of payment in the Bitcoin.com ecosystem and beyond, and grants access to exclusive platform services. Currently, VERSE rewards are available to early adopters through farming on Verse DEX and the newly introduced staking opportunity. Since launch, Bitcoin.com Verse has secured over 75 partnerships, integrations, and collaborations, including a strategic partnership with industry-leading fiat-to-crypto onramp MoonPay.
Bitcoin.com has been a global leader in introducing newcomers to crypto since 2015. The company features accessible educational materials, timely and objective news, and intuitive self-custodial products, making it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. Bitcoin.com’s multichain Verse DEX is an automated market maker-based decentralized exchange that aims to bring everyone permissionless and self-custodial trading access.
In these uncertain times, decentralized finance is becoming increasingly appealing to individuals seeking financial empowerment and independence. As traditional banking systems fail, decentralized exchanges like Verse DEX and staking opportunities like VERSE Staking are playing a vital role in promoting economic freedom and widening access to financial opportunities. Bitcoin.com is at the forefront of this movement, providing individuals with the tools and resources they need to engage with and reap the rewards of the decentralized finance world.