Bitmatrix Releases Mainnet Beta For Bitcoin Miners Create Liquidity Pool

Bitmatrix’s automated protocol has launched with new features that allow bitcoin miners to create their own liquidity pools, fees, and make trustless swaps.

Bitmatrix, an automated market maker (AMM) protocol, has released its mainnet beta which will allow bitcoiners to create their own liquidity pool and perform trustless swaps on the Liquid Network.

Bitmatrix’s automated protocol has launched with new features that allow bitcoin miners to create their own liquidity pools, fees, and make trustless swaps.

Bitmatrix’s first announcement was that over a year ago, the team worked on optimizing the platform and fixing bugs with feedback from users via an online form. According to the information shared by the platform, in that time period, the design of the covenant has been rotated four times.

With the release of the mainnet beta of Bitmatrix, the platform is confident that this released design is the best in terms of contract security and byte savings.

After the initial beta release, Bitmatrix reduced fees and increased concurrency from 8 to 32 positions, meaning each liquidity pool can handle up to 32 transactions per minute, and this volume is expected will increase when the next updates are available.

Additionally, the mainnet will launch a new feature that allows for custom charging. As a result, users will be able to set fees from 0.01% to 1.00% with a default fee of 0.25%.

The Liquid Network is a layer 2 scaling solution that uses sidechains to create a 2-way peg between BTC and liquid assets. BTC is represented on the Liquid Network as L-BTC and is considered to be of equal value to BTC.

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