After the successful integration of native USDt, what surprises does TON bring to everyone? TON is expanding its asset portfolio through TON Teleport BTC, which allows users to use synthetic tokens tgBTC to achieve trustless transfer of BTC assets to the TON blockchain! The testnet is scheduled to end in early 2025, after which the project will transition to the mainnet stage 🔥
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1. What surprises does TON Teleport BTC bring to TON Degens?
It will open up a $10B opportunity, making TON the gateway between all cryptocurrencies and real-world utility. This will enable#BTCholders to leverage their assets in TON's DeFi ecosystem, unlocking new possibilities such as:
📍Trading
📍Liquidity Mining
📍Provide liquidity
This huge influx of new liquidity will be a major boon to TON’s DeFi ecosystem ✌️
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2. How does TON Teleport BTC work?
📍Peg-in
BTC holders transfer their Bitcoin to the TON network, where it is converted into tgBTC, a token that fully represents BTC in the TON ecosystem
📍Access DeFi
Once transferred, tgBTC can be used for liquidity mining, lending, and other DeFi activities, bringing active use cases to the originally illiquid BTC asset. Users can also redeem at any time, and when they decide to transfer back to Bitcoin, they only need to unlock it to easily convert tgBTC back to native BTC
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3. Complete test strategy
📍Wallet Settings
Download @tonkeeper wallet ➠ Top right corner ➠ Settings ➠ Scroll to the bottom and click the TonKeeper logo several times ➠ Enable developer mode
📍Add a Testnet account
Go to Settings and click on your wallet name ➠ Click Add Wallet ➠ Then select Testnet Account ➠ Enter your 24-word recovery phrase (or create a new one) and click Continue and save your recovery phrase safely
📍Get some testnet TON
Copy the address ➠ Open Telegram and search @testgivet_ton_bot ➠ Paste the address into the bot to get free test Toncoins for Testnet
📍Set up Bitcoin's testnet Signet
Download UniSat wallet ➠ Select Native Segwit (P2WPKH) ➠ Click on the Bitcoin logo in the top right corner ➠ Open the network selection menu ➠ Select Bitcoin Testnet ➠ Switch to Bitcoin Signet ➠ Copy the address of tb1q…
📍Get BTC test coins
Go to signetfaucet.bublina.eu.org or signetfaucet.com and paste the address you just copied to get BTC test coins
📍Go to the transfer page
sandbox.teleport.tg/auth ➠ Connect your wallet and mint your first test tgBTC on the testnet
📍Community and developer sharing
t.me/tgbtc_chat
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IV. Conclusion
The combination of TON and BTC will release more liquidity and potential for each other. For this reason, everyone can test it and prepare for the next mainnet. TON's applications close to Web2 life plus the combination of Bitcoin Web3 are bound to bring more new blood and TVL. We continue to be optimistic about the development and future potential of the TON DeFi ecosystem 🔥
