Avalanche taps into Chaos Labs’ Proof of Reserves

Description

Avalanche has officially integrated Chaos Labs’ Proof-of-Reserves, bringing on-chain verification to assets powering the layer-1 blockchain platform’s decentralized finance ecosystem. In an announcement on June 16, Chaos Labs said Avalanche ( AVAX ) will leverage the Proof-of-Reserves system to provide transparent verification for bridged assets in the Avalanche DeFi stack. This includes ecosystem top coins for cross-chain liquidity, such as Avalanche Bridged Bitcoin (BTC.b) and bridged Wrapped ...