Tokenized Bitcoin (tBTC) is the future of DeFi, with its supply tops 1.1B

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Investors can now change BTC into tBTC, and use this new token to access the DeFi markets on Ethereum. With roughly 60% of crypto market cap in BTC, Bitcoin tokenization is a potential catalyst for further growth in DeFi markets.
As the DeFi craze is going on, a new trend has emerged – tokenized Bitcoin. It can be considered as a new asset and a digital representation of the Bitcoin, like a digital certificate to a stock of gold which can be traded, sold and used as collateral.
Bitcoin is digital but not in the ‘correct way’. As most of decentralized finance applications (dapps) continue to be built on Ethereum, Bitcoin just doesn’t quite fit into that ecosystem. And so, developers stepped up to the task to build a ‘wrapped’ version of Bitcoin, starting with wBTCrenBTC, and the newly re-launched tBTC, by the Keep Network. is led by Matt Luongo, with the support of more than 50 partners, Keep, Summa, Cross-Chain Group, DLT Capital, Paradigm and Andreesen Horowitz.
tBTC suggests to be fully audited, open-source, and with protection through Nexus Mutual, allowing people to safely exchange at a rate of 1:1 their BTC for tBTC, an ERC-20 token. Compound and Uniswap are among the DeFi platforms that have been integrating tBTC.
Scalar Capital Managing Director Linda Xie, says:
“A decentralized version of tokenized bitcoin is key to catalyzing the next stage of growth in DeFi. I’m confident that tBTC offers the best solution with the team’s commitment to security, transparency, and decentralization as well as the strong community that has grown around the project.”
tBTC runs on the Keep network, powered by KEEP tokens. Keep is a portfolio firm of venture studio Thesis.
Tokenization of Bitcoin has been received with harsh criticism from Bitcoin maximalists, who say that any representation of Bitcoin is not “real” Bitcoin, but rather an ‘IOU’ and removes the key benefits of holding a sovereign asset.

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