Ouyi officially launches multi chain encapsulated token xBTC

Ouyi will officially launch the 1:1 anchored Bitcoin encapsulated asset xBTC on May 22, 2025, aiming to enhance the cross chain liquidity of Bitcoin assets and create more Web3 revenue opportunities for users. After the launch of xBTC, the deposit and withdrawal services of Solana, Sui, and Aptos, the three major public chains, will also be opened simultaneously. Users can easily participate in the multi chain Web3 ecosystem and unlock more possibilities for Bitcoin assets. XBTC: A secure and efficient multi chain Bitcoin solution. xBTC is an encapsulated token supported by Ouyi and strictly follows a 1:1 reserve mechanism. Users can flexibly use xBTC in the Web3 ecosystem, which is as secure and reliable as native Bitcoin. Highlights of xBTC: *Security and Transparency: xBTC is a fully managed and 1:1 anchored Bitcoin encapsulated token by Ouyi. Users can verify their asset transparency in real-time through proof of reserve (PoR) on the chain. *Enjoy Web3 liquidity: xBTC can connect to various Web3 applications and support on chain operations such as lending and liquidity mining, helping you explore profit opportunities and improve the efficiency of fund utilization. *Cross chain interoperability: xBTC is based on Ouyi's secure deposit and withdrawal services, achieving seamless interoperability between multiple chains and facilitating efficient and secure circulation of native Bitcoin assets. The Solana, Sui, and Aptos mainnet charging and withdrawal functions of xBTC will be open at the following times: *Coin deposit activation time: 11:00 AM on May 22nd (UTC+8) *Withdrawal opening time: 11:00 AM on May 22nd (UTC+8) How to charge xBTC in the xBTC charging and withdrawal tutorial? *Log in to your Ouyi account and enter the deposit page. *Choose BTC and the source network that supports coin deposit (Solana, Sui, or Aptos). *Copy the deposit address and deposit xBTC from an external wallet. *After confirmation on the chain, xBTC will be automatically converted to BTC at a 1:1 ratio and transferred to your account. How to extract xBTC? *Log in to your Ouyi account and enter the withdrawal page. *Select BTC and choose the target network (Solana, Sui, or Aptos) that supports withdrawal. *Enter the receiving address, confirm the withdrawal amount and handling fee (if any). *After submitting the application, BTC will be automatically converted to xBTC in a 1:1 ratio and sent to the target chain address. XBTC related activities are about to be launched. Participate in the xBTC "Learn and Earn" activity and win rewards Earning coins on the Ouyi Chain is about to launch the xBTC "Learn and Earn" activity. Completing the learning task will unlock the qualification for BTC staking activity and win exclusive rewards. Please stay tuned for the launch time! Ouyi Web3 Wallet is about to launch xBTC revenue product The Ouyi Web3 wallet will launch a revenue product based on xBTC, integrating with top tier Web3 protocols such as Solana, Sui, Aptos, etc., to enjoy additional ecological incentives. Users can operate it in one stop and easily participate. Coming soon, please stay tuned for Web3 wallet updates! Learn more about xBTC information: * Official website *Proof of On Chain Reserve (PoR): * Solana * Sui * Aptos Disclaimer: The content of this article is for informational reference only and does not constitute: (i) investment advice or investment recommendation; (ii) Offer, solicitation or inducement to buy, sell or hold digital assets; (iii) Financial, accounting, legal or tax advice. Digital assets (including stablecoins and NFTs) have market volatility and high risks, and may experience depreciation. Please carefully judge whether it is suitable to trade or hold digital assets based on your financial situation and risk tolerance. If you have any questions, please consult your legal, tax, or investment advisor. Not all products are available in all regions. For more details, please refer to Ouyi's "Terms of Service", "Risk Disclosure and Disclaimer", and "xBTC User Agreement". The charging and withdrawal functions of xBTC are only available in specific regions. Ouyi team May 22, 2025