BTCS Expands DeFi Strategy onto Base, Eyes Scalable Revenue
BTCS Inc., which operates on the NASDAQ under the ticker BTCS, has expanded its decentralized finance business onto Base, an Ethereum Layer-2 network developed by Coinbase. This move marks Imperium's first expansion beyond the Ethereum mainnet.
The company announced this expansion through its Imperium decentralized finance business, which deploys digital assets into blockchain-based financial protocols to generate revenue for BTCS. Imperium currently uses Ethereum and stablecoins for these activities, participating in decentralized lending, borrowing, and liquidity pools among others.
Chief executive officer Charles Allen said the expansion forms part of a broader multi-chain strategy that allows BTCS to provide liquidity across different networks as transaction volumes and demand shift. This could also provide scalable revenue with relatively high margins, according to Allen.
Imperium has expanded its capital deployed through paired liquidity pools during the third quarter, from approximately USD$8 million at the end of the second quarter to around USD$36 million now, representing a 350% increase.