About Proxy
Bitcoin Proxy offers a unique institutional-grade wrapped Bitcoin solution that leverages Polygon technology to bring Bitcoin to DeFi with no gas and no slippage. Unlike other wrapped bitcoin offerings, Bitcoin Proxy provides decentralized governance via the PRXY token, insured custody through its partner Hex Trust, and a user-friendly interface to make wrapping bitcoin easy for retail users and institutions alike. In combination, the ProxyRelay solution reduces transaction costs, eliminates slippage, and significantly reduces counterparty risk to make it easier than ever to wrap your bitcoin to participate in DeFi platforms both on Ethereum and Polygon. By confirming Bitcoin blocks onto an Ethereum smart contract using a MATIC side chain, BTC Proxy enables gasless minting of its wrapped Bitcoin product, BTCpx, and low redemption fees with fast confirmations in under 30 minutes. No KYC is needed. Users can stake PRXY tokens to farm Bitcoin Rewards paid in BTCpx, which is redeemable for BTC.
Earn $50 when you buy $50 in crypto
Market Stats
Market Cap
Not enough data
FDV
$10,499.24
Circulating Supply
Not enough data
Max Supply
21,000,000 PRXY
Total Supply
6,574,565 PRXY
Total Value Locked
$21,775,483.58
Diluted Valuation
$8,792.29
Performance
Popularity
Not enough data
Dominance
Not enough data
Volume (24H)
$25.00
0%
Volume (7D)
$188.86
Volume (30D)
$782.29
All time high
$48.34
Overall Price Change (1Y)
-1%
Additional info about Proxy
Recent trends
The price of Proxy has increased by 0.01% in the last hour and increased by 0.01% in the past 24 hours. Proxy’s price has also risen by 0.01% in the past week. The current price is $0.000500 per PRXY with a 24-hour trading volume of $25.00. Currently, Proxy is valued at 100.00% below its all time high of $48.34. This all-time high was the highest price paid for Proxy since its launch. The current circulating supply of Proxy is 0 PRXY which means that Proxy has as total market cap of $0.00.
Market details
PRXY vs markets
↘ 99.68%
PRXY vs BTC
↘ 99.73%
PRXY vs ETH
↘ 99.3%
Tags
Network & Addresses
Network | Address | |
|---|---|---|
Polygon | 0xab3D689C22a2Bb821f50A4Ff0F21A7980dCB8591 |
Price history
Time | Price | Change |
|---|---|---|
Today | $0.000500 | ↗ 0.01% |
1 Day | $0.000500 | ↗ 0.01% |
1 Week | $0.000500 | ↗ 0.01% |
1 Month | $0.000500 | ↘ 0.01% |
1 Year | $0.14 | ↘ 99.63% |
FAQ
Proxy, renamed BTC Proxy, is the institutional-grade Bitcoin DeFi bridge to the Polygon and Ethereum networks. The platform has a migrated contract address from Proxy to BTC Proxy. The BTC Proxy platform aims to provide a scalable layer-2 protocol to decentralized tokenization of Bitcoin, mainly for multinational institutions. Users can trade and manage their assets cross-chain (across different blockchains) on the platform utilizing the Proxy Relay. Proxy Relay is the bridge that Bitcoin holders can use to stake and transfer Bitcoin into another chain like Ethereum or Polygon without the need for a central exchange system.
As its whitepaper suggests, the platform faces some challenges with the current Ethereum ecosystem. For instance, the lack of a proper permissionless and decentralized bridge to transfer Bitcoin value to Ethereum/Matic; smart contracts dominate DEXs, digital swaps, and many other functions; and CEX and systems are exponentially increasing counterparty risks. Thus, to overcome these challenges, the BTC Proxy network aims to facilitate the features including minting, redemption, earning yield, custody (keeping funds safe with the help of regulated custodians), and PROXY governance.
BTC Proxy is a Bitcoin Liquidity Protocol that enables users to trade and transfer funds without price slippage. In addition, the protocol has independent liquidity that affects the exchange prices on centralized exchanges (CEX) and decentralized exchanges (DEX). The ecosystem also intends to help the users by providing financial freedom, supporting a decentralized bridge for securely and efficiently transferring funds, a flexible platform for redemption and standardizing Bitcoin for MRC20 and ERC20 formats.
The BTC Proxy ecosystem runs a community-governed DAO structure, with its two tokens, MATIC and PRXY, working in tandem. Here, MATIC is a reward token, and PRXY is a governance token that powers the ecosystem's growth. PRXY is the ERC20-based protocol token.
Further, using PRXY, users can submit proposals or funding requests to improve the ecosystem. PRXY can also be used for staking, Bitcoin farming, paying gas fees for the minting and redeeming BTCpx, liquidity mining, etc. BTCpx is the deposit to custody minted coin powering the BTC Proxy ecosystem. Also, users can earn PRXY by providing liquidity to BTCpx in the Automated Market-Making (AMM) pool and facilitates staking liquidity pool tokens into the staking contacts.
Donnie Kim is the founder and CEO of the BTC Proxy ecosystem. The team decided to launch the BTC Proxy platform with a maximum supply of 21 million PRXY tokens.
We update our Proxy to USD currency in real-time. Get the live price of Proxy on Coinbase.
The current market cap of Proxy is $0.00. A high market cap implies that the asset is highly valued by the market.
The all-time high of Proxy is $48.34. This all-time high is highest price paid for Proxy since it was launched.
Over the last 24 hours, the trading volume of Proxy is $25.00.
Assets that have a similar market cap to Proxy include HoboNickels, CryptoNeur Network foundation, TAXAD, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Proxy is 0.
Earn $50 when you buy $50 in crypto
Restrictions apply. Promo code expires May 7th, 2025.
Proxy calculator
1 Proxy (PRXY) to Canadian Dollar (CAD)
CA$0.000696
1 Proxy (PRXY) to Real (BRL)
R$0.0029
1 Proxy (PRXY) to Euro (EUR)
€0.000439
1 Proxy (PRXY) to Singapore Dollar (SGD)
S$0.000657
Related assets
Discover conversions
Popular cryptocurrencies
Comparable market cap
Discover more assets
Legal
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.