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PACT Protocol Launches on Aptos Network
In a major breakthrough, PACT Protocol has officially launched on the Aptos Network, a next-generation Layer 1 blockchain. This significant development is expected to have a profound impact on the global financial landscape by enabling fully on-chain loan origination, payments, warehousing, and securitization.
As part of this milestone, PACT Protocol will be migrating its existing tokens to the new Aptos-based platform, allowing all current token holders to seamlessly transition their assets. The aptly named 1:1 token bridge is expected to become available shortly, with clear instructions provided for a smooth migration process.
This innovative move by PACT Protocol aims to expand access to credit in underserved markets where traditional financial services are often scarce or non-existent. By leveraging the Aptos Network’s unparalleled high throughput and low latency capabilities, PACT Protocol can now power loan originations at an unprecedented scale.
Aptos’ breakthrough technology has been designed to support the next generation of decentralized financial systems, providing an environment that is both highly scalable and user-friendly. This alignment with PACT Protocol’s own mission will undoubtedly strengthen its position in the market as a pioneering player in the decentralized lending space.
As part of this strategic move, all existing PACT holders will be able to participate in the migration process, which will enable them to leverage Aptos’ enhanced infrastructure for future ecosystem growth and continued governance. This represents an unparalleled opportunity for community members to tap into Aptos’ vast potential, ensuring a seamless transition into the new era.
In a statement, the PACT Protocol team highlighted the significance of this milestone: “We are thrilled to announce our official launch on the Aptos Network, marking a major turning point in our journey. By harnessing the full potential of Aptos’ technology, we will be able to empower borrowers worldwide with seamless access to credit, while also fostering an ecosystem that is designed for scalability and usability.”
The Aptos Foundation has also expressed their support for PACT Protocol’s groundbreaking initiative: “We are excited to see PACT Protocol leveraging our infrastructure to further democratize financial services. This partnership demonstrates the power of collaboration in shaping a more equitable future for global finance.”
As the PACT Protocol community begins this new chapter, they can expect enhanced capabilities, increased scalability, and improved usability within their decentralized lending ecosystem.
For more information regarding the migration process or how to participate, please visit https://pact.foundation/.
Source: blockonomi.com
