- Users can deposit BTC and mint tBTC on Ethereum, a tokenized form of Bitcoin that can be used in DeFi markets
- The contracts have been audited and Luongo says that the overcollateralized design protects users
- The asset features an increasing supply cap; liquidity mining incentives are also expected soon
- tBTC is a collaborative effort of Keep, Summa and the Cross-Chain Group
- The motivation is to tap into Bitcoin’s high liquidity and bring it into the DeFi space
- Over $1 billion in BTC has been tokenized on Ethereum, with Wrapped Bitcoin (wBTC) being the dominant form
- tBTC has received praised from some notable industry members, including Zcash founder Zooko Wilcox and Synthetix founder Kain Warwick
tBTC Launches With Plans to Bring More Bitcoin to Ethereum
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