Don't let the $BTC ecosystem's evolution pass you by.
Here's how Ton is breaking new ground
The number of $BTC holders is steadily growing, yet many are unaware of how to maximize returns on their assets.
On one hand, this suggests we're still in the early stages; on the other hand, it presents significant opportunities for holders.
$BTC often sits idle in wallets, with holders waiting for its value to increase.
But $TON is introducing TON Teleport BTC, enabling Bitcoin to access DeFi tools and making it more than just a store of value.
Following the successful integration of $USDT, the TON Foundation is now bringing $BTC into its ecosystem.
This move unlocks over $10B in liquidity for TON while making $BTC an accessible asset for millions of TON ecosystem users.
● How TON Teleport Works
$BTC transferred to the TON Network is converted into $tgBTC, a synthetic equivalent of Bitcoin, through a Peg-in process. tgBTC is fully backed 1:1 by BTC, ensuring it can be redeemed for Bitcoin at any time via a Peg-out process back to the BTC blockchain.
With TON Teleport, $BTC becomes accessible on the TON Network, unlocking new income opportunities for BTC holders:
- Trading
- Earnings from deposits in DeFi protocols
- Income from providing liquidity
This influx of new liquidity is a significant boost for TON’s DeFi ecosystem, making it impossible to ignore.
Currently, TON Teleport BTC is live on Testnet, and you can participate in the testing phase.
Here’s a step-by-step guide:
➜ Install the Tonkeeper wallet
Download it here: http://tonkeeper.com
➜ Enable Developer Mode and set up a testnet account.
Now, get testnet tokens:
➜ Use the Telegram bot and follow the instructions: http:// t. me /testgiver_ton_bot
Next, set up a Signet BTC wallet for use with TON Teleport BTC.
More about it: http://tgbtc.gitbook.io/docs/getting-started/signet-in-btc
Once your Testnet TON wallet and Signet BTC wallet are set up, and you've received Test TON coins and Signet BTC, you're ready to mint your first tgBTC.
Visit the TON Teleport website and connect your wallet: https://sandbox.teleport.tg/auth
Now that you're all set for the testnet, follow the steps in this guide: https://tgbtc.gitbook.io/docs/getting-started/how-to-mint-first-tgbtc
This guide covers:
➜ Key steps in the Peg-in process (Transfer, Wait, Receive)
➜ How to mint tgBTC within the TON ecosystem
➜ Testing the functionality of TON Teleport BTC Peg-in
That’s it!
Once you've completed all the tasks, join the chat and share your experience with the community and the devs: http:// t . me /tgbtc_chat
The entire testnet process takes around 10 minutes, and there’s a chance for future rewards, so my advice is not to skip it.
Testing will end in early 2025, after which everything will move to the mainnet. The process of minting tgBTC will remain the same as in the testnet.
That’s a wrap for today.
$TON continues to develop actively, and with the launch of the bridge to the BTC network, the TON network now gains access to over $10 billion in liquidity, making it an even more promising asset.
