Threshold's tBTC Launches Minting for Only Decentralized, Permissionless, Scalable BTC Bridge to DeFi
SAN MATEO, Calif. , Jan. 31, 2023 /PRNewswire/ -- Threshold Network, a provider of cryptography services to unlock greater utility of digital assets, announced the launch of tBTC, the industry's only decentralized, permissionless, and scalable Bitcoin-to-Ethereum bridge. The launch will allow users to wrap their BTC in exchange for tBTC tokens that can be deployed in the Ethereum ecosystem. tBTC's optimistic minting model is now live in partnership with Curve DAO, Yearn.Finance, Synthetix, Connext, Alchemix, Euler, and Aave as minters, with further support from Catalog, BadgerDAO, StakeDAO, Entropy, and respected community members and DeFi OGs as guardians.
- The launch will allow users to wrap their BTC in exchange for tBTC tokens that can be deployed in the Ethereum ecosystem.
- Minters are a permissioned group of actors responsible for monitoring the chain and minting tBTC after each valid deposit.
- Fully permissionless minting, launched later this year, will remove the need for both groups, leaving the responsibility for minting tBTC to stakers on the Threshold Network.
- tBTC's launch makes it possible for the wealth held in BTC to be deployed across the dynamic, fast-evolving Ethereum DeFi universe.