Bitcoin L2 Labs, the core development team behind Stacks, has just announced the successful deployment of sBTC on the mainnet – an asset programmed with a 1:1 collateral mechanism backed by Bitcoin. This is seen as a groundbreaking step in building the on-chain Bitcoin economy and marks a new phase after the Nakamoto upgrade in October. This upgrade improved transaction speed and achieved 100% finality on the Stacks network.
For the global Bitcoin community, this event is not only a significant milestone but also opens a new era of programmable Bitcoin. With the superior security of the Bitcoin blockchain, this digital asset is now ready to participate in DeFi applications.
sBTC officially launched: Unlocking Bitcoin liquidity
sBTC was created with the goal of maximizing Bitcoin's liquidity, allowing BTC holders to access opportunities in the DeFi space while ensuring the highest security standards. This is a strategic move following the Nakamoto upgrade at the end of August.
Users can utilize sBTC to participate in lending and borrowing protocols such as Zest, DEX platforms like Bitflow and ALEX, or advanced AI tools like aiBTC.
Mr. Muneeb Ali, founder of Stacks, emphasized in the press release:
"Unlike locking BTC in POS systems, sBTC is highly flexible and can build an on-chain Bitcoin economy. From lending protocols, DEXs, to AI bots, sBTC can do it all while inheriting 100% security from Bitcoin's hash power."
Key features of sBTC
1:1 collateralized by Bitcoin: Each sBTC token is fully backed by real Bitcoin.
Organizational-level signing network: Reduces reliance on centralized entities, enhancing reliability.
Absolute finality: Protected by Bitcoin's hash power, ensuring superior safety.
Transparent open-source: Helps developers and users easily verify and validate security.
Currently, in the mainnet launch phase, sBTC only supports deposits with a limit of 1,000 BTC. Despite the initial limit, this number will provide the necessary liquidity for developers and pave the way for deeper integration with custodial organizations and ecosystem partners.
According to the plan, the withdrawal function will be activated in Q1/2025, when the system transitions to an open signing network without needing permission. Those depositing sBTC will also receive rewards of up to 5% per year, creating attractive profit opportunities for Bitcoin holders.
Unlocking the comprehensive potential of Bitcoin
The launch of sBTC marks an important milestone, bringing Bitcoin closer to Ethereum's dominance in the DeFi space. Data from DefiLlama shows that the total value locked (TVL) on Ethereum has nearly reached 80 billion USD, while Bitcoin is quickly closing the gap after surpassing Binance Smart Chain (BSC).
Source: DefiLlama
With sBTC, Bitcoin is no longer just a "store of value" but has become a flexible asset, ready to serve decentralized applications (dApps).
Mr. Andre Serrano, product director at Bitcoin L2 Labs, emphasized:
"sBTC helps Bitcoin expand its capabilities beyond being a store of value, thereby unlocking the maximum potential of BTC in decentralized applications."
Golden opportunities for DeFi developers
The emergence of sBTC also opens up a range of new opportunities for developers and building DeFi. For instance, the Zest protocol allows users to enhance yields while holding sBTC:
"By simply holding sBTC, users have received an annual yield of 5% through Stacks' rewards program. With Zest, users can optimize this profit further."
As capital flows from Bitcoin are unlocked and poured into DeFi protocols, developers, users, and the ecosystem will benefit from abundant liquidity and innovative financial tools.
The successful deployment of sBTC not only strengthens the Bitcoin layer-2 ecosystem but also lays the groundwork for a new era where Bitcoin can drive innovation in decentralized finance.
https://tapchibitcoin.io/stacks-chinh-thuc-ra-mat-sbtc-tren-mainnet.html
