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pNetwork and Tinyman Partnership: Earn ALGO by Providing pBTC Liquidity

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On April 29th, the multi chain routing protocol pNetwork announced on Twitter that it has deepened its partnership with the Algorand ecological automated market maker Tinyman. Now

pNetwork and Tinyman Partnership: Earn ALGO by Providing pBTC Liquidity

On April 29th, the multi chain routing protocol pNetwork announced on Twitter that it has deepened its partnership with the Algorand ecological automated market maker Tinyman. Now pNetwork users can earn ALGO by providing pBTC liquidity on their platform.

PNetwork collaborates with Tinyman to allow users to provide pBTC liquidity to earn ALGO

In the world of digital assets, the importance of liquidity is crucial for any financial network or blockchain protocol. Liquidity allows users to buy, sell, and exchange cryptocurrencies without facing significant price fluctuations or slippage. For this reason, the multi-chain routing protocol pNetwork has partnered with the Algorand ecological automated market maker Tinyman to provide users with enhanced liquidity and the opportunity to earn ALGO by providing pBTC liquidity on their platform.

What is pNetwork?

pNetwork is a multi-chain routing network that allows cross-chain token transfers between a variety of blockchain networks. The protocol enables users to exchange tokens between different blockchains while maintaining full custody of their assets. pNetwork uses a cryptography-based solution called “pBFT” (Practical Byzantine Fault Tolerance) that ensures security, reliability, and decentralization.

Who is Tinyman?

Tinyman is an automated market maker (AMM) built on the Algorand blockchain that provides users with liquidity pools for a variety of digital assets. The platform utilizes a unique “Open Orderbook” mechanism that allows traders to minimize their slippage and hold their assets in a decentralized manner. Tinyman was founded by a group of experienced traders and web3 enthusiasts who aim to create the most user-friendly and efficient AMM in the crypto space.

pNetwork and Tinyman Partnership

On April 29th, pNetwork announced that it has deepened its partnership with Tinyman, allowing pNetwork users to earn ALGO by providing pBTC liquidity on their platform. This partnership adds a significant amount of liquidity to the pBTC pool, which allows users to trade seamlessly between Bitcoin and Algorand-based assets, including USDT, USDC, and EURS.
The integration between pNetwork and Tinyman further enhances the liquidity of pBTC and Algo-based assets, reducing slippage and increasing the number of users who can access the pools. Additionally, this partnership amplifies the expansion of pNetwork into the growing Algorand ecosystem and strengthens the interoperability between blockchain networks.

How to Earn ALGO by Providing pBTC Liquidity

To earn ALGO by providing pBTC liquidity, users need to follow a few simple steps. Firstly, a user needs to obtain pBTC from one of the supported exchanges or platforms and deposit it into the pBTC pool on pNetwork. Then the user receives a pool token that represents the share of the liquidity pool that they own. The user can then deposit the pool token into the Tinyman liquidity pool, earning trading fees and the ability to obtain ALGO tokens.

Conclusion

In conclusion, the deepened partnership between pNetwork and Tinyman marks a significant step towards increasing liquidity and interoperability in the digital asset space. The collaboration unlocks new possibilities for users to trade, exchange, and earn ALGO by providing pBTC liquidity, thus increasing the adoption of blockchain-based financial solutions.

FAQs

Q1: What is Algorand?
Algorand is a blockchain platform that focuses on creating a scalable, secure and decentralized infrastructure for developing a new generation of borderless economy.
Q2: What is an AMM?
An AMM is an automated market maker, a decentralized platform that uses algorithms to price assets within a liquidity pool.
Q3: How can users obtain pBTC tokens?
pBTC can be obtained by depositing BTC into a pNetwork-supported exchange or platform, where it can be converted into pBTC tokens, which can then be used on the pNetwork platform.

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