sBTC is coming for $STX

Muneeb Ali, co-creator of Stacks, has hinted that the network's upcoming sBTC token could launch as early as December. sBTC aims to solve bitcoin's "write problem" by enabling smart contracts to send sBTC to a BTC address, offering a decentralized alternative to wrapped bitcoin (like wBTC and cbBTC), which are typically managed by centralized custodians. Stacks believes its decentralized two-way peg will better align with bitcoin's ethos. The sBTC upgrade is expected to be followed by further developments in January 2024, unlocking new decentralized finance use cases and enhancing bitcoin's utility.

Bullish upgrade for Stacks Ecosystem.
Excited for unlocking BTC DEFI with STX!

#defi #BTC☀