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Litecoin (LTC) Now Integrated Into DeFi by WanChain (WAN). Why is This Important?

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Tue, 06/22/2021 - 15:00
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Vladislav Sopov
With new release, Wanchain (WAN) brings digital silver to the turbulent segment of decentralized finances
Litecoin (LTC) Now Integrated Into DeFi by WanChain (WAN). Why is This Important?
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One of the first cryptocurrencies ever, the most popular Bitcoin (BTC) fork Litecoin (LTC) becomes a DeFi asset with a novel solution by Wanchain (WAN).

Litecoin (LTC) is added to Wanchain’s DeFi infrastructure

According to the official press release shared with U.Today by Wanchain Foundation, its team adds Litecoin (LTC) to the suite of assets of its DeFi project.

Wanchain integrates Litecoin
Image via Wanchain

As such, Litecoin (LTC) joins Bitcoin (BTC), Ethereum (ETH), Wanchain (WAN), Eos (EOS), Binance Smart Chain (BSC) and XRP Ledger (XRPL) in the league of blockchains integrated by Wanchain (WAN) interoperability mechanisms.

With this release, Litecoin (LTC) can be traded and transferred with EVM-compatible smart contracts which are native for Ethereum (ETH) blockchain.

This expansion is of a paramount importance for the entire DeFi ecosystem, as stressed by Wanchain’s founder and CEO Jack Lu:

Litecoin is one of the world’s most important cryptocurrencies. It is also amongst the largest without smart contract capabilities. Wanchain and several of our enterprise partners are all very pleased at the prospect of what smart contracts and true decentralised cross-chain interoperability can bring to Litecoin and the blockchain community at large.

LTC farming pool goes live in Wanswap

Recently, Wanchain engineers released an instrument for the seamless integration of XRP Ledger into the DeFi environment. That being said, XRP Army soldiers are able to put their beloved tokens to work in the DeFi ecosystem.

Li Ni, VP of Business Development and Operations in Wanchain is excited by the progress of his developers: 

Connecting a truly heterogeneous blockchain like Litecoin to EVM-compatible chains like Ethereum, Wanchain and Binance Smart Chain without sacrificing any security or decentralisation is a true feat. Integrations like this one and XRP Ledger reaffirm Wanchain’s mission to connect all the siloed blockchains in the world. Wanchain is one step closer to being the Wide Area Network of the blockchain industry

Litecoin (LTC) holders are now able to benefit from ‘yield farming’ and staking opportunities of the DeFi segment. Wanchain’s native AMM Wanswap is already offering a Litecoin-based liquidity pool.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)