Although Bitcoin is the largest digital asset, it does not support smart contracts. Today, it’s not possible to take a loan on Bitcoin without first transferring it to a custodian or a bridge. Custodian failures and bridge hacks, however, have led to over $140Bn in losses to date.
implements an MIT invention that makes it easy for app developers to integrate native Bitcoin. Their platform locks Bitcoin into on-chain escrow, from where it can be controlled by Ethereum and other smart contract chains. This “trustless bridge” enables lending, trading, derivatives and more.
The team is comprised of talent from Twitter and Goldman Sachs. They have 25 pilots spanning CeFi and DeFi and are launching their first wallet and lender integrations this March.
Brief Introduction