The Mantle Network and Antalpha Prime teams will launch a bitcoin-linked FBTC omnichain asset designed to unlock the potential of the first cryptocurrency in the field of DeFi.
💥 Fan the flames of Bitcoin's revolution with FBTC.https://t.co/Z9VhAL5DIV
— Mantle (@0xMantle) April 23, 2024According to the statement, FBTC will move freely between networks, allowing you to participate in various income generation strategies.
It is expected that initially after the launch in May, the asset will be available on:
Ethereum (including L2 protocols Mantle, Arbitrum, Optimism, Base, Linea, etc.);Solana; Aptos; Sui; Merlin Chain; BNB Smart Chain; Polygon POS.The developers noted that with the market capitalization of the first cryptocurrency at $ 1.3 trillion, its share in the TVL ecosystem of decentralized finance is only 4%. For comparison, Ethereum accounts for 75%.
"The launch of FBTC is a huge milestone on the way to introducing bitcoin into the world of smart contracts and unlocking its potential in DeFi," said Geordie Alexander, head of Mantle.
Among the "innovative possibilities" of using the asset, the teams named:
staking on the Babylon platform;trading on centralized and decentralized exchanges using high-frequency trading strategies;mining with leverage;profitable farming on platforms like Pendle."With FBTC, the bitcoin ecosystem is entering a new era of its functionality, turning any other blockchain into an L2 solution for its expanding domain," the developers concluded.
https://forklog.com/cryptorium/chto-takoe-l2-resheniya-masshtabirovaniya-dlya-bitkoinaRecall that Bernstein analysts announced a "DeFi-summer" in bitcoin due to record commissions after halving.