📣 tBTC has arrived: Bitcoin is going everywhere Threshold Network ✜ DAO has approved a proposal to boost cross-chain Bitcoin liquidity in DeFi by integrating Wormhole & incentivizing the minting of up to 26,000 tBTC.

2/ Risks of Centralized Wrapped Bitcoin DeFi needed a better BTC. Centralized solutions of wrapped BTC not only go against the core principles of decentralization but also add significant risk to using Bitcoin in DeFi apps due to centralized, counterparty risk.

3/ tBTC & Threshold Network tBTC, a decentralized, permissionless, and scalable Bitcoin equivalent, was introduced by @TheTNetwork to address the urgent demand for a decentralized path for bringing Bitcoin on-chain.

4/ How Is This Decentralization Achieved? At its core, tBTC utilizes Threshold Signatures, a multi-signature cryptographic scheme that requires a predefined number of participants (i.e. signers/node operators) to sign a transaction before it is considered valid.

5a/ tBTC Going Everywhere The incentive program to the Threshold community was proposed in mid-April with the objective of making tBTC the dominant BTC proxy in on-chain DeFi. The proposal garnered strong support and was fully approved on April 29th 2023.

5b/ The Wormhole integration will enable tBTC to be transferred to both EVM-chains (e.g., Arbitrum, Optimism, Polygon) and non-EVM chains (e.g., Solana, Aptos, Sui, Cosmos).

6/ Get Ready by Minting tBTC Get ready for all of tBTC’s upcoming use cases in various DeFi ecosystems by minting tBTC now. - Learn more - Start minting tBTC Below is a demo of minting tBTC:

7/ For more details, read the full announcement:

@TheTNetwork I'm having trouble using your bridge and my funds are stuck with you. I created a ticket and the problem has not been solved for more than a day and a half... Help, please!!!! #wormhole #portalbridge

@TheTNetwork Are the incentives for minting BTC as tBTC or for lp'ing tBTC across diff chains?

@TheTNetwork Is this really good for user experience?