TAO Bridge

Hatom built the first bridge that connects the Bittensor ecosystem with the MultiversX ecosystem. This innovative initiative allows users to seamlessly bridge their assets to the MultiversX blockchain. Once TAO is bridged, users can take advantage of the newly introduced wTAO token, providing them with opportunities to actively participate in the ecosystem while maintaining exposure to their underlying TAO.

wTAO Integration

Within the MultiversX blockchain, the wTAO token serves a dual purpose. It can be utilized within the Lending Protocol and Liquid Staking, opening diverse DeFi opportunities for users, but it will also be available to provide liquidity in different pools opened by Hatom's partners.

Lending Protocol

Both wTAO and swTAO (Liquid Staking Derivative of wTAO) will be integrated into the Hatom Lending Protocol, where they can be supplied to earn interest, and activated as collateral for extra incentives or borrowed. It offers more flexibility and allows users to open liquidity if needed without selling the asset and losing exposure.

Liquid Staking

Through the TAO Liquid Staking, users will benefit from earning staking rewards without fully locking their liquidity; this allows broader participation in DeFi and unlocks new opportunities within the MultiversX ecosystem.

Decentralized Exchanges

TAO will be integrated into the biggest decentralized exchanges across the MultiversX ecosystem, offering deep liquidity for users to perform transactions in an efficient manner. It allows users to provide liquidity for any pair associated with TAO to generate swap fees, but also diverse yield farming opportunities.

Please note: It is not necessary to have EGLD for gas fees on the MultiversX blockchain; upon the first successful bridge transaction from Bittensor, users will receive enough EGLD to cover the initial transaction on MultiversX.