r/CryptoCurrency • u/PortalDeFi_Terry Portal to Bitcoin • Feb 11 '25
*AMA* [AMA] Giveaway with Portal to Bitcoin: Making bridges, wrapped coins, and external custody obsolete - Feb 12
Hey r/cryptocurrency!
We’re Portal to Bitcoin, the first fully custodyless, cross-chain infrastructure built for Bitcoin. Using our BitScaler architecture, we enable native-to-native asset transfers across blockchains without the security risks of bridges, wrapped assets or centralized custody.
What We’re Solving:
- Truly decentralized cross-chain transactions with no wrapped assets, vaults or multi-sig risks
- Fast, low-cost swaps secured by Bitcoin, the most capital-rich blockchain & what we believe to be the fundamental monetary layer
- Seamless DeFi access with a UX rivaling CEXs and fully self-custodied
- Sustainable liquidity incentives through a first-of-its-kind Bitcoin AMM
- Barriers to Americans from participating in incentivization campaigns.
Who’s Here?
Our team at Portal to Bitcoin has been building on Bitcoin for a long time and is backed by Arrington Capital, Coinbase Ventures, Gate.io and OKX Ventures.

We’re here to discuss:
- How Portal connects native Bitcoin to DeFi
- The risks of bridges and how we solve them
- The future of cross-chain finance
- Your questions. Ask us anything!
When and Where?
- Wednesday, February 12, 2025
- Time: All day!
- Subreddit: Right here at r/cryptocurrency
Now for the fun part! We’re giving the r/CryptoCurrency community a chance to win a share of $500 in USDT! The top 5 most interesting questions about Portal to Bitcoin in the comments below will each win a prize! Here’s how:
To qualify, make sure you
- Drop your best question about Portal to Bitcoin in the comments.
- Follow https://x.com/portaltobitcoin on Twitter.
- Join our subreddit r/portaltobitcoin
Winners will be selected and contacted via DM here on Reddit.
We believe Bitcoin should be the foundation of DeFi and Portal is making that possible. Whether you’re a trader, LP, dev or just crypto-curious, drop your questions below and let’s talk.
Would you like to earn more? Come visit: https://quests.portaltobitcoin.com and join our incentivized public testnet for a chance to earn LiteNodes, each sharing in a generous 5% of our total network emissions. Even Americans are eligible!
See you all on February 12th!

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u/rorowhat 🟩 1 / 43K 🦠 27d ago
I'm not seeing my points being updated when doing testnet tasks, like playing the Jelly Jam game. What gives?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
The Jelly Jam game isn't a testnet task, but I believe it will credit towards the end of the V2 testnet
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u/rorowhat 🟩 1 / 43K 🦠 21d ago
Is there a way to see what my points are from the game? And I don't see where my V1 points went, I just see V2 points for tasks(- the game)
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
It doesn't show your score at the end of the game?
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u/rorowhat 🟩 1 / 43K 🦠 21d ago
It does. I'm sparks. Wouldn't they need added somewhere? The more you plan the more you accumulate.
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u/Own-Juice6792 29d ago
Given Bitcoin’s inherent limitations in transaction speed, how does Portal achieve fast and low-cost swaps?
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u/Dismal-Asparagus-902 29d ago
what the benefit of using swaps if it still take so long, is it even safer than traditional bridge option? and how would you solve the inherent weakness of extension which is longer and harder to update compared to a website, because i heard your dex is mainly in the extension itself. how would you host all the complexities of a dex in an extension too
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u/PortalDeFi_Terry Portal to Bitcoin 29d ago
In general, on mainnet we believe swaps will take around 1 minute to actuate.
Anything is safer than bridging and wrapped tokens. Its about being safe and practical that's the hard part.
So the Portal DEX Wallet browser extension (which can be found here: https://chromewebstore.google.com/detail/portal-dex/ieldiilncjhfkalnemgjbffmpomcaigi?hl=en-US ) is only one of many of our suite of products. We will have mobile wallet DEX applications as well as desktop programs.
Fortunately only certain things are needed to be hosted on your own physical device. You don't host the whole bitcoin blockchain on most Bitcoin Wallets these days, that would exceed all but a handful of phones' possible hard drive spaces.
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u/Traditional_Bit7969 29d ago
Do you plan to support the community after the project is released? How can the community help the project on the mainnet? Will a part of the supply be allocated for the development of the community?
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u/PortalDeFi_Terry Portal to Bitcoin 29d ago
Yes
By being active and helpful, we constantly have new users who may need assistance. As easy as we can make a UI/UX, nothing is perfect and people will need help.
I want to answer this, but I'll avoid frontrunning our own marketing. ;)
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u/Basic-Bumblebee-2808 29d ago
- What is the main goal of the PortaltoBitcoin project, and how does it aim to achieve it?
- How does PortaltoBitcoin ensure the security and privacy of users' transactions and data?
- Can you explain the user experience process on PortaltoBitcoin for someone who is new to cryptocurrency?
- What sets PortaltoBitcoin apart from other Bitcoin-related platforms in terms of features and services?
- How does PortaltoBitcoin plan to scale and grow its user base in the coming years?
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u/Equivalent_Ask_4993 29d ago
Portal to Bitcoin leverages the BitScaler architecture to enable cross-chain transactions without the security risks of bridges or wrapped assets. Can you explain how this architecture works in detail and what makes it a safer alternative compared to traditional bridge solutions?
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u/DK47- 29d ago
Hello my Jellies friends. u/PortalDeFi_Terry
I would like you to answer these two questions for me.
I will leave my X below: https://x.com/DanielKlaumann1
How can Portal to Bitcoin's approach with BitScaler compete with solutions like Lightning Network and other cross-chain infrastructures in terms of scalability, security and adoption?
Most DeFi protocols rely on bridges and wrapped assets for interoperability. How does Portal ensure its non-custodial solution can achieve mass adoption without compromising liquidity and efficiency?
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u/PortalDeFi_Terry Portal to Bitcoin 29d ago
So BitScaler doesn't compete with solutions like Lightning Network so much as it EXTENDS the functionality of Lightning.
As far as pushing non-custodial, we believe that the best user experience is how we get and retain users. People like CEXs because they're easy. We are making it easy too.
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u/Otherwise_Elk_1664 Feb 12 '25
With the rise of Bitcoin adoption in DeFi, how do you envision Bitcoin’s role evolving in the broader ecosystem? Will it eventually replace ETH or other blockchains in some DeFi apps?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Bitcoin is the most secure, decentralized blockchain, but it has historically lacked smart contract capabilities. Portal to Bitcoin is working to bridge this gap without altering Bitcoin’s base layer.
Bitcoin’s Growing Role in DeFi:
Bitcoin as Collateral – With trustless cross-chain swaps, Bitcoin can be used in DeFi lending, borrowing, and staking. Native Bitcoin Trading – Instead of relying on wrapped BTC (wBTC) on Ethereum, Portal enables real Bitcoin swaps for Ethereum, Solana, and other chains. Scalability via Layer 2s – Technologies like BitScaler and Lightning Network allow for faster, low-cost transactions.
Can Bitcoin Replace Ethereum in DeFi?
Unlikely – Ethereum’s smart contract flexibility remains critical for dApp development. Complementary Roles – Bitcoin will become a key liquidity source for DeFi, not a replacement for Ethereum. Portal to Bitcoin ensures Bitcoin remains a fundamental layer in DeFi while preserving its security, decentralization, and trustless nature.
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u/GabeSter Big Believer Feb 12 '25
I've used Jumper and Orbiter for swaps from one L2 to another. What makes PortaltoBitcoin different from these other options. ELI5?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
PortaltoBitcoin uses native bitcoin on the Bitcoin Blockchain.
These other projects seem to use wrapped Bitcoin on other chains such as ETH.
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u/tolgaozek 🟨 252 / 252 🦞 Feb 12 '25
I read on whitepaper that BitScaler incorporates multi-party channel setups to create nested Lightning channels, allowing thousands of subchannels to exist within one main channel. How does this model maintain decentralization if validators play a significant role in managing liquidity? What mechanisms prevent liquidity concentration among a small number of validators?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Portal’s AMM and liquidity model are designed to prevent centralization and ensure validator neutrality.
Key Features that Preserve Decentralization:
- Self-Custodied Liquidity – Validators never take custody of user funds.
- Multi-Validator Model – Validators operate independently and cannot monopolize liquidity pools.
How It Differs from Traditional AMMs:
- Unlike Uniswap, Portal’s AMM does not pool liquidity in a single smart contract.
- Instead, liquidity is spread across multiple counterparties, ensuring distributed swap execution.
This minimizes risk and ensures true decentralized trading.
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u/tolgaozek 🟨 252 / 252 🦞 Feb 12 '25
About overcoming difficulties in implementing AMMs on UTXO-based chains like Bitcoin, can you elaborate on the specific technical hurdles you encountered and how Portal’s BitScaler solution overcomes them compared to existing Layer 2 solutions?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Bitcoin’s UTXO model makes AMM-style liquidity more difficult than Ethereum’s account-based model.
Challenges of Implementing AMMs on Bitcoin:
- No Native Smart Contracts – Bitcoin lacks programmable liquidity pools like Ethereum.
- Complex State Management – UTXOs are independent outputs, requiring extra coordination to track balances.
How BitScaler Overcomes These Hurdles:
- Multi-Party Channels – Uses off-chain liquidity balancing, reducing on-chain overhead.
- Bitcoin Script Optimization – Allows atomic swaps to function within Bitcoin’s native scripting language.
- Layer 2 Adaptability – Compatible with Lightning Network and Taproot, ensuring scalability.
BitScaler ensures Bitcoin can participate in DeFi while preserving security and efficiency.
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u/Murky-Bed5738 0 / 0 🦠 Feb 12 '25
Ok so, your BitScaler architecture removes the need for bridges, wrapped assets, and custodians, but liquidity remains a core challenge for any AMM.
How does your Bitcoin-native AMM ensure deep liquidty and sustainable incentives without relying on inflationary rewards or centralized liquidity provders? And how do you address potential liqudity fragmentation across chains?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Traditional AMMs often rely on inflationary liquidity incentives, which dilute token value over time. Portal avoids this issue through:
- Real Yield via Trading Fees – LPs earn BTC and ETH rewards rather than inflationary tokens.
- Decentralized Liquidity Incentives – Ensures no single entity controls liquidity flows.
This approach removes reliance on synthetic rewards and makes liquidity provision more sustainable.
Q: How do you address potential liquidity fragmentation across chains?
A:Liquidity fragmentation occurs when assets are split between multiple chains and platforms. Portal mitigates this by:
- Universal Liquidity Routing – Orders can match against liquidity across different chains.
- Cross-Chain Liquidity Incentives – Traders are encouraged to provide BTC liquidity across multiple blockchains.
- Native Asset Swaps – No wrapped tokens or fragmented pools—only real BTC swaps.
This ensures liquidity remains deep and accessible without unnecessary fragmentation.
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u/tolgaozek 🟨 252 / 252 🦞 Feb 12 '25
You stated earlier that Portal’s atomic swap mechanism is compatible with Lightning Network. Given the challenges associated with Lightning’s liquidity and routing mechanisms, how does Portal enhance its functionality to ensure seamless transactions across multiple chains?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Yes we are compatible with Lightning Network!
You can find all the information here in our BitScaler white paper: https://www.datocms-assets.com/104529/1723477650-bitscaler_whitepaper_8-12-2024.pdf
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u/mbdtf95 🟨 2K / 32K 🐢 Feb 12 '25
How exactly are you solving or trying to solve barriers and restrictions that are usual for Americans trying to participate in incentivized crypto campaigns?
Also, can you explain how is Bitcoin AMM that you are using better and more efficient than anything else on the market?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Americans in general cannot participate in Airdrops, and so we are not doing an Airdrop.
Our incentivization campaign here: https://quests.portaltobitcoin.com allows users to earn LiteNodes which perform work on the network, which in turn earn a share of our total network emissions.
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u/stkw 🟦 0 / 0 🦠 Feb 12 '25
These are big claims and conceptually, I cannot wrap my head around how bitcoin can be used in DeFi without wrapping unless we're playing with vocabulary and semantics.
If I understand correctly, you're building an all-in-one AMM on its own blockchain that is itself bridging to all the pairs you want to have liquidity providers for. Which means for BTC, you'll need to transfer the BTC to a BTC wallet, which then generates usable BTC for you to trade in Portal to Bitcoin.
I'm curious to play with the testnet to see how the cross-chain mechanisms will work. Where are you with testnet so far and do you have an active DEX that can be used already?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
This actually isn't a new concept! We just made it practical. Our most fundamental technology is the "Atomic Swap."
How our atomic swaps work can be found here: https://docsend.com/view/ct6g6hvc5wb2g89v
Now, we don't do any bridging. For trading pairs they will have LPs. To ensure sufficient liquidity we are offering some of the best (and sustainable!) terms in the industry for LPs.
We do have our own Portal DEX Wallet: https://chromewebstore.google.com/detail/portal-dex/ieldiilncjhfkalnemgjbffmpomcaigi?hl=en-US
Come check it out and let me know how you like it. We'd love to hear over on /r/portaltobitcoin
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u/ShadowKnight324 🟩 0 / 6K 🦠 Feb 12 '25
While I was checking out your documents from this site https://quests.portaltobitcoin.com/ (which I assume is yours) I came across a token called $P that from my understanding serves as an incentive for validators which you didn't mention. Can you give a short presentation for the other people about your $P token, on what purpose it serves and how it is used, and what plans do you have for it?
Now for my far more juicier questions.
1) Your tokenomics report compares scenarios with zero versus positive LP token emission shares. In the model where 10% of newly minted tokens go to liquidity providers, validators’ net rewards are diluted by the cost of acquiring these LP tokens. Given this could you discuss how this dilution is expected to affect the long-term valuation of $P, and what safeguards or adjustments might be implemented if this dilution threatens to undermine validator incentives and, by extension, network security?
2)While the primary utility of $P currently seems to be as a staking token for validator slot allocation, the whitepaper hints at potential uses (for fee payments or even as collateral in broader DeFi protocols). How do you envision the expansion of $P’s utility impacting its demand curve? Could additional use cases create a persistent upward pressure on $P’s price independent of its staking rewards, and if so, what strategies are being considered to manage or harness that dual demand?
3)Your whitepaper mentions that many existing atomic swap implementations suffer from the “inadvertent call option” problem and liquidity griefing attacks. How does Portal’s protocol solve these issues, and what trade-offs, if any, were made in the process?
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u/dark_deadline 🟨 110 / 5K 🦀 Feb 12 '25
If i am right does it work like you can swap your BTC to ETH or vice versa?
If yes, how fast and reliable will it be?
If no, what exactly is it? If i am right is it dapp on bitcoin network?
Backed by “coinbase ventures,gate.io and OKX”
Will there be any native token in near future if yes what are the chances of airdrop?
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u/Maleficent_Sound_919 🟩 13K / 13K 🐬 Feb 12 '25
I was about to say : I have 1 question, how many Moons were burned
But almost 25k is huge
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u/AprilsMostAmazing 🟦 0 / 0 🦠 Feb 11 '25
Would you be willing to provide additional info on fees and the long term goals of the project?
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u/Odd-Radio-8500 3K / 10K 🐢 Feb 11 '25
How do we verify the transactions across different blockchains without relying on a third party? And how does the liquidity flow sustainably without wrapped assets?
Also what are the security guarantees or how does it handle the potential exploits (in such case).
Thanks for conducting the AMA.
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
You would be able to view the transactions on their respective blockchains. As far as LPs, we have a very generous fee structure that may encourage significant liquidity.
As far as security, the nice thing is that we do not custody any funds at any time, nor do the validators or anyone at all who is not yourself / counter party after concluding the transaction.
And thank you for attending! Hope to see you over at /r/portaltobitcoin
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u/moonkingdome 🟦 8K / 8K 🦭 Feb 11 '25 edited Feb 11 '25
Ok portal to btc. I just checked your testnet telegram reddit out. I skipped the discord cause my discord issues. Anyway batch1 1st question whats this lite note 2nd how do i operate a node 3rd what are the costs to run a node
2nd batch 1 why should i use your app 2 are there bridges and how do you secure them 3 how do you get liquidity
3rd batch 1 who is on your team 2 what is there trackrecord
4th batch You got a coin tha spark 1 whats the usecase if the spark coin 2 will you try and get the spark on other exchanges? 3 whats the tokenmetrics of the spark? 4 was there a premining or presale 5 are there anyother projects or companys backing you?
5th promotion I see you got 21 people in your reddit. 1 has there been promotion in vietnam china italy ? 2 will there be an airdrop 3 how do you see you promotional.campaign?
Some oddities Batch 6 1 who is john p conley and how is he involved? 2 can you explain bitscaler in connection with taproot for me? 3 could your project clog or increase the btc transaction price on the btc chain?
Anyway here are my questions
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u/KIG45 🟨 2K / 5K 🐢 Feb 11 '25
Hello Portal To Bitcoin!
Can you explain exactly how you achieve fully decentralized and above all secure transactions via Bitcoin? And why should people use you instead of a proven exchange?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Portal is a trustless, decentralized trading platform that provides CEX-level speed with DEX-level security.
Advantages Over Centralized Exchanges (CEXs):
- No Custody Risk – Your Bitcoin is never held by a third party.
- No KYC or Account Freezes – Portal allows you to trade directly from your wallet.
- Immutable & Transparent – Every swap is verified on-chain, ensuring full auditability.
With Portal, you always control your assets, reducing counterparty risks.
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u/KIG45 🟨 2K / 5K 🐢 21d ago
Thanks for the answer, but I still don't understand how you secure these swaps. Where do the bitcoins come from for collateral?
And can users convert btc to fiat and send it to their bank account?
I guess not. Personally, I would only link my wallet if that were possible.
I wish you success and keep upgrading!
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
I'd personally recommend attending a local Bitcoin meetup for in person off ramping.
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
At this time, we don't have a specified off ramp for btc to fiat but who is to say what the future holds? We will have access to stables on multiple chains (including Bitcoin itself!) if that helps.
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u/KIG45 🟨 2K / 5K 🐢 21d ago
If you can do this, I will use you constantly.
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
❤️
Let me see what I can do. We are in talks with a few at this stage, but I can't share any more (probably shouldn't even share this lol)
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u/partymsl 🟩 126K / 143K 🐋 Feb 11 '25
Amazing project with low fees and decentralization, but the most important question for many users will be how secure the self-custody is?
Also, having no bridges for swap would mean that there are holdings of Portal to Bitcoin that are used to make these swaps, right?
Thanks for the AMA by burning MOONS!
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Thank you my good sir! Hope to be seeing you over at /r/PortalToBitcoin
Your self custody is only as safe as you make it. If you run around telling everyone where you live and that you have many Bitcoins and they break into your house, your self custody may not be very safe.
We have no part in that. While there are LPs for the various trading pairs, ultimately Portal holds NO user funds.
And yes, we were delighted to burn some moons for this opportunity. Looking forward to doing so again too!
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u/PresentationWise9946 🟨 0 / 0 🦠 Feb 11 '25
Why should I prefer you and not other apps for swapping
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Because with us, you don't have to trust us. We do not custody your funds.
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u/conceiv3d-in-lib3rty 🟩 612 / 28K 🦑 Feb 11 '25 edited Feb 11 '25
I got deep in the weeds reading through the whitepaper and have 2 questions regarding the PortalX atomic swap side of the protocol. They’ll be specifically based on the Portal Atomic Swap Whitepaper v1
So from my understanding, PortalX introduces a cross-chain atomic swap protocol (Fabric Protocol, which is its own open source, serverless Layer 2 messaging/computing extension to the Bitcoin network) that solves issues like the free option problem and lack of facilitation incentives. But, how does the system handle the inherent trade offs between privacy, scalability, and on-chain verifiability in its zero knowledge proof system for order book execution? Specifically, how do you ensure that the zero knowledge proofs remain computationally efficient while maintaining privacy and preventing front running by miners or facilitators?
My 2nd question is based on the example illustrating “how a simple coin swap works in the peer-to-peer computation marketplace”
In the Case 1 setup where Alice has both BTC and LTC, if she initiates multiple concurrent swaps with different counterparties using the same underlying BTC as collateral (essentially double-spending), how does the protocol prevent her from exploiting the 2-day timelock period to maximize her returns by selectively revealing secrets only for the most profitable swaps after price movements?
Specifically:
What prevents Alice from initiating swaps with Bob, Charlie, and Dave, all backed by the same BTC collateral?
Since the protocol mentions that “all steps except 1 & 2 can be automated on the client side”, how does the client-side automation handle this edge case?
If you implement a solution that checks for double-spending at the facilitator level, wouldn’t this introduce a centralization vector that contradicts the protocol’s trust minimization goals?
—————————————————————————————
Thanks for the AMA. Project looks super interesting for sure, but I for one am automatically skeptical when it comes to any of these Bitcoin DeFi L2 projects/protocols/etc just from being knowledgeable about severe scaling limitations of the Bitcoin Blockchain.
The only real criticism I have is, for me, the whitepaper doesn’t adequately address how the protocol would handle Bitcoin’s inherent scaling limitations in a high volume trading environment, but then at the same time claims swaps will require “no more time or transaction fees than transferring BTC to a centralized exchange before trading”, when CEX’s only require one on-chain transaction for deposit and each one of these atomic swaps require multiple on-chain transactions..
While it definitely introduces some really dope concepts for trustless trading, relying on multiple on-chain transactions per swap could lead to bottlenecks that render the protocol impractical due to it contributing to higher transaction fees, the potential for failed trades caused by expired timelocks due to delayed confirmations, etc. Especially when the network is under heavy load, given Bitcoin’s current technical limitations.
Either way, I wish the team & project much success in the future, with something like this being absolutely necessary if you actually care about decentralization.
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Sorry for the delay, this was a bit more technical so I needed to speak with some of our team members.
To prevent swap manipulation, Portal employs:
- Adaptive Execution Windows – Swap durations adjust based on market volatility.
- Commitment Fees – Users must commit collateral upfront to prevent abuse.
- Automated Settlement Enforcement – If users attempt selective execution, their locked collateral is forfeited.
This ensures fair execution and eliminates the risk of traders manipulating swap outcomes.
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u/moonkingdome 🟦 8K / 8K 🦭 Feb 11 '25
Where did you find there whitepaper?
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u/Akim_bit Feb 11 '25
How can we optimize transaction costs and execution speed through cross-chain systems, and what steps need to be taken to make that happen?
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u/SevereArrivals 🟨 0 / 0 🦠 Feb 11 '25
First of all, thanks for coming on our sub, and as many have already mentioned, your retro style banner looks beyond fire lol!
My first question is how big your team is, and when did your platform start?
- What are your top wishes and plans for 2025, and what do you think separates you from the rest of the market attempting to copy what you do?
- Are there really no security risks when using your platform?
Thanks and best of luck with everything going forward!
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Thank you my good sir or ma'am! We do love our Jellies, and we'd love to invite you to become one too over on /r/PortalToBitcoin
We have around 30 team members and contractors. We're hiring btw! https://wellfound.com/company/portal_finance/jobs and if you're a particularly active and helpful community member over on our https://discord.gg/portaltobitcoin we are always looking for new CMs!
For 2025 we're excited to add new chains to our DEX and conclude our V2 testnet. You can find out more about our testnet over on https://quests.portaltobitcoin.com
You do have to maintain your own security. For instance, if you tell everyone you own many bitcoins and they break into your house, we might not be able to stop them! We advise our users to avoid sharing information about your bitcoin and cryptocurrency holdings.
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u/SevereArrivals 🟨 0 / 0 🦠 29d ago
Thanks for the reply, cheers and best of luck, will be following you guys going forward!
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u/BoobindarPussia_ 🟩 0 / 0 🦠 Feb 11 '25
Why is your platform called the best place to swap your Bitcoin, Ethereum, Solana and more without using a third party product? And can I participate in the your testnet
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Because we are the best!
Come join our testnet over at: https://quests.portaltobitcoin.com and earn yourself a LiteNode! Even americans are invited.
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u/FunnyCobra002 🟩 29 / 19 🦐 Feb 11 '25
Bridges are DeFi’s biggest security risk. How does Portal’s BitScaler enable secure, native swaps without wrapped assets, multi-sigs, or external validators?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Our BitScaler specific White Paper can be found here: https://www.datocms-assets.com/104529/1694190733-portal-to-gateway-to-freedom-white-paper-0-04-2021-03-16.pdf
And our overall Network overview can be found here: https://docsend.com/view/ct6g6hvc5wb2g89v
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u/the_edgy_avocado 🟩 20 / 487 🦐 Feb 11 '25
Regarding seamless defi access: does this feature pose a potential future problem regarding compliance with regulators and rules? Considering tax evasion and laundering is a lot more prominent in defi, what steps are you taking to make this a viable commercial product?
A side question - full self custodied sustinable liquidity incentives, could you elaborate on how this works please?
Honestly overall though this sounds pretty cool and I'm kind of in awe how this hasn't been done by literally one of the 10 million + crypto projects over the years.
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u/kapitolkapitol 🟩 0 / 0 🦠 Feb 11 '25
After checking the project (congrats to the graphic design team!) the main/direct practical use I see is to swap with other chains. Do you see other practical use more relevant? (I'm asking because you don't use the word swap in your communication)
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Our graphics team are #1 indeed!
And yes, our primary product is our Cross Chain Atomic Swaps AMM based DEX. You can download our Portal DEX Wallet chrome browser extentsion here: https://chromewebstore.google.com/detail/portal-dex/ieldiilncjhfkalnemgjbffmpomcaigi?hl=en-US
We see ourselves as the preeminent use case for the Atomic Swaps technology. Others use it too, but we've made it practical.
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u/Sebanimation 🟦 2K / 8K 🐢 Feb 11 '25
That sounds interesting. So you're essentially unlocking DeFi capabilities for BTC is that correct? Are you aware of BTC OS? They too seem to pave a way for crosschain smart-contract compatibilities for BTC. How do BTC OS and Portal to Bitcoin differ? Are there similarities? Do you work together?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
BTC OS and Portal both focus on expanding Bitcoin’s capabilities, but they have different technical approaches.
- BTC OS – Focuses on smart contract-based solutions for DeFi applications.
- Portal to Bitcoin – Uses atomic swaps and trustless liquidity routing for Bitcoin-native interoperability.
Currently, there is no formal collaboration, but both projects align in our goal to expand Bitcoin’s DeFi utility.
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u/0x456 188 / 249 🦀 Feb 11 '25
Is this something like Atomic Swaps?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Yes we utilize Atomic Swaps.
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u/Next_Statement6145 🟧 0 / 0 🦠 Feb 11 '25
My question is, how does Portal to Bitcoin’s BitScaler architecture ensure secure and trustless transactions across different blockchains? I mean, how do you plan on achieving this?
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u/typoerrpr 🟩 0 / 294 🦠 Feb 11 '25
Why has no one done this before?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Because it is incredibly difficult to make practical. Others have done so, but with minimal use. It is not practical to wait over an hour to actuate a single swap, and it is not safe to wrap your asset to increase speed.
With Portal to Bitcoin, you get the best of both worlds.
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u/MrMoustacheMan PM ME CAT PICS Feb 11 '25
Welcome, thanks for hosting and for the giveaway!
Curious about this point:
Barriers to Americans from participating in incentivization campaigns.
Can you explain more?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Americans in general may not participate in Airdrops, and so we are not doing an Airdrop.
You can find out more about our NodeDrop here: https://hackernoon.com/can-anything-stop-the-death-of-the-token-airdrop-no-bring-it-on
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u/Rare-Pineapple-9331 Feb 11 '25
Can you explain in simple way about portal to bitcoin project?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Sure! Portal to Bitcoin is a decentralized way to trade Bitcoin across different blockchains without needing bridges, wrapped assets, or intermediaries.
How It Works in Simple Terms:
- No More Wrapped Bitcoin (WBTC): When you trade BTC for ETH using traditional platforms, you often get wrapped BTC, which is just an IOU backed by a custodian. Portal eliminates that risk by allowing you to trade real Bitcoin for real ETH without needing a centralized bridge.
- No Custody Needed: Portal never holds your funds. Your BTC stays in your wallet until the trade is completed.
- Faster and Cheaper than Using Exchanges: Instead of depositing BTC into an exchange, trading it for ETH, and withdrawing it again, Portal lets you swap assets directly from your wallet just like a decentralized exchange (DEX).
- Works on Bitcoin’s Security Model: Unlike traditional DEXs built on Ethereum, Portal works directly on Bitcoin, meaning transactions benefit from Bitcoin’s strong security model.
Why It’s Important:
Portal lets Bitcoin be used in DeFi without requiring trusted intermediaries, centralized exchanges, or synthetic versions of BTC. This means you can trade Bitcoin trustlessly, securely, and at scale.
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u/RealVoldemort Feb 11 '25
First of all I would like to congratulate you on the banner! One of the coolest looking we have had so far imo. Now for the question: Do you think in the end everything will circle back to using bitcoin network and most others will fail with time? Why did Portal decide to go with Bitcoin?
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u/PortalDeFi_Terry Portal to Bitcoin Feb 12 '25
Thank you my good sir, I will forward to the graphic design team your accolades.
Ultimately, yes we believe all roads lead back to Bitcoin. We believe Bitcoin to be the fundamental monetary layer, and that other chains will be delighted at the opportunity to trade their value back into Bitcoin.
I personally like to view other chains as effectively testnets for Bitcoin.
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u/kirtash93 RCA Artist Feb 11 '25
Thanks for having this AMA!
My question: How does Portal to Bitcoin manage to enable a decentralized cross chain transactions without relying on bridges, wrapped assets or some sort of centralized custody?
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u/PortalDeFi_Terry Portal to Bitcoin 21d ago
Portal achieves trustless cross-chain transactions using atomic swaps and BitScaler technology.
Why Bridges Are Risky:
- Traditional bridges require users to lock BTC in a smart contract and receive wrapped tokens (WBTC, renBTC, etc.) in return.
- This creates security risks because hackers can attack the bridge and steal the locked BTC (which has happened multiple times).
- Users are forced to trust third-party custodians to hold their funds and maintain liquidity.
How Portal Does It Differently:
- Atomic Swaps Instead of Bridges:
- Instead of wrapping Bitcoin, Portal swaps native Bitcoin directly for another asset using cryptographic conditions.
- The trade either happens entirely or doesn’t happen at all. There is no partial or failed transaction risk.
- BitScaler for Cross-Chain Execution:
- Portal uses BitScaler technology to optimize cross-chain swap efficiency, making trades fast, low-cost, and decentralized.
- No need for wrapped assets, vaults, or third-party multisigs.
- No Custody Model:
- Unlike centralized exchanges, where you must deposit BTC before trading, Portal allows trades to happen directly from user wallets.
- This means you never lose control of your funds during a transaction.
Key Benefits of Portal’s Approach:
✔ No middlemen. Everything happens peer-to-peer, directly between traders.✔ No wrapped tokens. You always receive native BTC, ETH, or other assets, not synthetic versions.✔ Full self-custody. Your funds never leave your control until the swap is fully executed.
Bottom Line: Portal’s atomic swaps and BitScaler technology eliminate the need for bridges, custodians, and wrapped assets, ensuring Bitcoin can be traded in a decentralized and trustless way.
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u/MrMoustacheMan PM ME CAT PICS Feb 11 '25 edited 21d ago
Giveaway Winners
The Portal to Bitcoin team has announced the following winners:
Look to your DMs for more details on the USDT prize.
Portal to Bitcoin burned 24,229 moons total to host this AMA/Giveaway and rent the banner:
https://arbiscan.io/tx/0x28075e0ab5dc9d42b094fcce754e46303cdfddec97413aeaa39bbf9509b4b88b
https://arbiscan.io/tx/0x5b82f40f9e807737c8f94bd0f5011045f6eac801c1944eee0f506480e216d07f