Looking for a better #Bitcoin in DeFi?

Look no further - $BTC.b is here.

đŸ§± Composable

🌐 Omnichain

🔐 Secure

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đŸ€” Context - $wBTC

The primary way to use Bitcoin in DeFi has been to rely on the centralised bridge that is $wBTC. Now, with the recent changes on the custody of $wBTC, there is a greater cause for concern over the consolidation of such a large asset in DeFi.

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🎈 Learn about $BTC.b

BTC.b is a tokenized version of Bitcoin on the Avalanche blockchain, bridged via @LayerZero_Labs tech. BTC.b when entering Avalanche or elsewhere is ERC-20 and OFT as standard, this enables holders to engage in #DeFi across #Avalanche but also other chains, such as #Arbitrum and more. It's fast, cheap, secure - just as you'd expect any token in DeFi to be.

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🌉 How does the $BTC.b Bridge work?

BTC.b is minted onto Avalanche through a decentralized bridge accessible to anyone. The bridge is managed by a secure SGX enclave, which is overseen by a consortium of trusted partners known as 'Wardens.'

These Wardens use remote attestation technology to ensure that the bridge operates securely within the enclave and that it runs an audited version of the code.

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👹‍🔬 More about SGX

SGX technology is a key innovation for cross-chain interoperability, offering security and cost-efficiency. While the SGX enclave itself ensures security, decentralization is achieved through the network of Warden nodes, making it a vital feature for any token in #DeFi 👍

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👑 How to get $BTC.b?

1ïžâƒŁ Holding $BTC

If you hold $BTC and want to use it in #DeFi, you can bridge it directly using the @coreapp.

2ïžâƒŁ Exchanging $wBTC

If you hold $wBTC and want to exchange it for $BTC.b, the process will depend on the chain where you hold your $wBTC. The simplest approach is to exchange your $wBTC for another coin, bridge that to #Avalanche, and then swap it for $BTC.b on @TraderJoe_xyz, which offers the deepest onchain liquidity for your swapping needs.

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#AVAXÂ