With the integration of Wormhole and tBTC, users can now easily move and deploy their Bitcoin in the decentralized finance networks, enabling them to participate in a wide range of DeFi products. This is made possible by Threshold DAO's tBTC, which is a Bitcoin-backed ERC-20 token equivalent of BTC. It allows users to take advantage of the DeFi opportunities existing on Ethereum and other EVM-compatible blockchains and networks. Furthermore, with the Wormhole token bridge, the same tBTC token can be used across the Solana, Aptos, Sui, and Cosmo networks.
With the launch of tBTC on Wormhole, DeFi users are presented with more options to deploy their funds - whether it's on Ethereum, Polygon, Optimism, or any other supported chain - as liquidity providers are rewarded for their participation with token options to mint tBTC. The new integration with Wormhole means that blockchain experts, developers and users can now more easily access the DeFi landscape for yield farming, liquidity mining and other DeFi opportunities. As a result, users can take advantage of the most relevant DeFi products and protocols currently available in the market, without unnecessarily fragmenting their liquidity.
Isabel Hall
- 2023-05-12
Taking Advantage of DeFi Opportunities with tBTC and Wormhole
With the launch of tBTC on Wormhole, DeFi users are presented with more opportunities to deploy their funds and access a wide range of DeFi products. This enables users to take advantage of the most relevant DeFi products and protocols, without unnecessarily fragmenting their liquidity.
