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Proxy is on the decline this week.

The price of Proxy has fallen by 12.55% in the past 7 days. The price increased by 2.88% in the last 24 hours. In just the past hour, the price grew by 0.11%. The current price is $0.0359 per PRXY. Proxy is 99.99% below the all time high of $242.18.

The current circulating supply is 0 PRXY.


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What Is Proxy (PRXY)?

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.

History of Proxy (PRXY)

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.

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CoinDesk • Sep 27, 23

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FalconX participates in $3 million seed round for DeFi portfolio manager Bril Finance

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What is the current price of Proxy?

We update our Proxy to USD currency in real-time. Get the live price of Proxy on Coinbase.

What is the market cap of Proxy?

The current market cap of Proxy is $0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Proxy?

The all-time high of Proxy is $242.18. This all-time high is highest price paid for Proxy since it was launched.

What is the 24 hour trading volume of Proxy?

Over the last 24 hours, the trading volume of Proxy is $45.41K.

What other assets are similar to Proxy?

Assets that have a similar market cap to Proxy include ParallelChain, Medicalchain, Optimus Inu, and many others. To see a full list, see our comparable market cap assets.

How many Proxy are there?

The current circulating supply of Proxy is 0.

Can I buy Proxy on Coinbase?

No, Proxy is not currently available on Coinbase, but you can sign up to get the latest news on Proxy and be notified when it gets added to our exchange.