The rapid adoption of FBTC by Ignition shows Bitcoin’s evolving role in the DeFi landscape within the broader DeFi ecosystem.
FBTC, a tokenised Bitcoin asset maintaining a 1:1 peg to BTC by Ignition, has reached the $100M milestone in total value locked (TVL).
The digital asset is supported by the Mantle blockchain ecosystem and Antalpha Prime, with the goal of building upon Bitcoin’s evolving utility and transforming the original cryptocurrency from a simple store of value into a dynamic asset that offers the potential for various yield-generating possibilities.
Igneus Terrenus, Paramount Pyromancer at Ignition, said “FBTC’s rapid adoption, supported by Ignition’s diverse ecosystem of partners, signals a new chapter in decentralised finance (DeFi) where Bitcoin’s potential is being fully realised across multiple blockchains. As Ignition continues to innovate and expand FBTC’s capabilities, we’re not just creating opportunities for yield — we’re reimagining how Bitcoin interacts with the broader DeFi ecosystem.”
Ignition also unveiled its plans for an upcoming “Sparkle” campaign, where contributors of the FBTC ecosystem will receive points, or ‘Sparks’, for their efforts. Early FBTC holders will receive “Sparks” for future rewards, and Ignition will continue to integrate new protocols, launch side campaigns, and offer external incentives throughout the Sparkle campaign.
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