Proxy (PRXY)

Proxy (PRXY) is a coin part of the Bitcoin DeFi ecosystem. It offers a unique opportunity to bridge Bitcoin to Ethereum, Polygon, and Binance Chain. The coin is backed by Bitcoin in the custody of leading BTC custodians, making it 100% asset-backed.

The Proxy protocol enables users to unlock the value of their Bitcoin by following a simple four-step process. First, users mint BTCpx, the tokenized version of Bitcoin. Then, they can purchase a bond using BTCpx to buy PRXY at a discounted rate. Next, they stake their PRXY tokens in the farming contract to receive fPRXY tokens. Finally, holders of fPRXY tokens receive a yield of BTCpx that can be redeemed for Bitcoin.

Proxy is built on Ethereum and Polygon, providing users with a balance of cost, speed, and security. The protocol operates within the decentralized finance ecosystem, offering innovative features and partnerships. While already offering significant utility, the Proxy team continues to work on innovations and partnerships, making it an exciting coin to watch.