#tBTC Launches With Plans to Bring More Bitcoin to Ethereum

                           


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Thesis founder Matt Luongo announced on September 23 that the Keep Network had released what he believes is the first permissionless, censorship-resistant Bitcoin (BTC) bridge on Ethereum (ETH).

User 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



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