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TBTC from Threshold Network, Token ERC-20 supported Bitcoins 1: 1
He made his debut on SUI on Monday because the threshold is trying to expand the btcfi in the sui ecosystem.
Cooperation allows users to store BTC on the Sui and Mint TBTC and potentially add over $ 500 million to the Sui Liquidit Bitcoin network. This means that users can deploy their BTC in sui defined to generate additional yields, while without problems using TBTC across ecosystem.
“TBTC is expected to bring a huge amount of bitcoins to SUI and create a bridge that really matters to institutions, but for everyday people who love bitcoins,” Adeniya Abiodun, co-founder and chief product director in Mysten Labs, said Sui.
“This new integration opens up other doors available, sovereign BTCFI,” Abiodun added.
BTCFI represents a complete spectrum of decentralized financial applications created to work with bitcoins in order to strengthen the attractiveness of cryptocurrency outside the narrative of value.
Almost 600 BTC worth over $ 65 million has been brought to the SUI ecosystem since February, and the BTC -supported assets are more than 10% of the total locked value (TVL) In the ecosystem of SUI. At the time of the press, cryptocurrencies worth $ 1.83 billion were locked in defi on SUi, according to defillama data source.
“Bitcoin was designed for use, was not locked,” said Callan Sarre, co -founder of Threshold Labs. “With TBTC comes to SUI, we combine securing threshold cryptography with a high -performance net to create a new standard for bitcoin usefulness.”
TBTC, Threshold Network is a decentralized protocol that combines cryptography and blockchain infrastructure to provide a safe and credible approach to bitcoin defi. Since writing, the TBTC had the market ceiling more than $ 570 million, with a circulating delivery of 5 265 coins, according to the data of the COINGECKO source.
