Early core contributors Antalpha Prime and Mantle join forces to support the launch of FBTC digital asset.
Another new Bitcoin-based asset has entered the crypto fray with the launch of FBTC, a decentralised, asset that is pegged 1:1 with the price of Bitcoin.
The launch of FBTC is supported by core contributers including Mantle, a burgeoning DAO-led blockchain ecosystem built around Ethereum Layer 2 (L2) Mantle Network and Ether liquid staking protocol Mantle LSP, and Antalpha Prime, a reliable digital asset technology platform for institutions.
FBTC is intended to enhance its utility beyond being store of value by introducing a BTC asset that is liquid and easily composable in yield enhancement strategies. The token is designed to proliferate the Bitcoin ecosystem with these features:
- Decentralised and Secure Infrastructure: FBTC employs a TSS network to conduct minting and redemption to enshrine decentralisation in its operations. Signatories of the TSS network include Antalpha Prime, Cobo and Mantle. FBTC also works with reputable and trusted multi-signature custody providers to guarantee the security of the BTC principal — specifically, FBTC’s initial MPC solution is powered by Cobo, an institution-grade digital asset custody provider. Additional MPC custody solutions will join in the future to further decentralisation efforts.Â
- Cross-Chain Interoperability and Composability:Â FBTC is minted on Ethereum and comes with seamless interoperability to enable a wide range of use cases on various L1s and L2s.Â
- Mass Adoption Readiness:Â FBTC is integrated with wallets such as Binance Wallet, Bybit Wallet, Bitget Wallet, OKX Wallet, Particle Network, TokenPocket and UniSat. In addition, FBTC has a number of partnerships with top DeFi protocols and infrastructure partners.Â
FBTC also unveiled market-first yield enhancement strategies within the Bitcoin ecosystem to amplify its velocity and composability:Â
- Babylon Staking: Vaults that earn yield from Babylon native stakingÂ
- Basis Trading: Vaults for high frequency trading funding strategies across CEXs and DeFi platformsÂ
- Leveraged Bitcoin Mining: Through leveraged lending and borrowing assets, miners can effectively scale their operationsÂ
- DeFi and BTC L2 Integration: Custom vaults that boost Bitcoin L2 liquidity for point farming, while top-tier DeFi integrations with Pendle Finance and Curve Finance to provide higher yields.
FBTC is expected to be deployed on blockchains such as Ethereum and related L2s such as Mantle, Arbitrum, Optimism OP Mainnet, Base, and Linea. It will also launch on other blockchains like Solana, Aptos, Sui, Merlin Chain, BNB Smart Chain, and Polygon POS, with more supported blockchains to come.
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