Bitcoin L2 Labs, the developer of Bitcoin layer-2 Stacks, has announced that sBTC has been released on the mainnet. 🎉

sBTC provides access to Bitcoin’s decentralized finance (DeFi) applications while preserving Bitcoin’s security principles. The Nakamoto upgrade’s faster transaction times and 100% Bitcoin finality have created the technical infrastructure for sBTC’s successful launch.

sBTC deposits will begin on December 17, 2024, with withdrawals in March 2025. A temporary limit of 1,000 BTC has been set for the first phase. Early adopters will earn 5% annual Bitcoin rewards in sBTC. 🚀