Mantle launches FBTC: Unlocking Bitcoin's growth potential
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Mantle launches FBTC: Unlocking Bitcoin's growth potential
FBTC aims to unlock the growth potential of Bitcoin.
Navigating Web3 tides with focused insightsAuthor: Mantle
Translation: TechFlow
FBTC, incubated by Ignition, is an asset pegged 1:1 to BTC, designed to "unlock Bitcoin's growth potential." With $FBTC, holders can explore DeFi yields on their idle Bitcoin holdings across multiple chains—now available on the Mantle Network.
As a core contributor to Ignition, this expansion extends our supported assets beyond ETH-based assets ($mETH) into the Bitcoin ecosystem. Together, we are committed to transforming Bitcoin from a mere store of value into a multifunctional asset, offering greater yield opportunities through $FBTC.
As of July 12, 2024, users can begin swapping and bridging $FBTC on Ethereum and the Mantle Network. One month later, Ignition has already secured over $70 million in total value locked (TVL), with more than 27 launch partners, demonstrating the quality and credibility of $FBTC.
So why choose $FBTC? Despite the growing Bitcoin ecosystem and BTCFi use cases, current asset solutions continue to suffer from liquidity constraints, fragmentation, poor user experience, and high entry barriers.
$FBTC will address these challenges by leveraging extensive resources and a broad network, delivering superior liquidity for scale and creating a paradise of DeFi yield opportunities for Bitcoin across multiple chains—all backed by the Mantle ecosystem.
Security is Ignition’s top priority. $FBTC will utilize multiple multi-party computation (MPC) custodians, with all operations managed on a threshold signature scheme (TSS) network supervised by security firms and a council, ensuring robust, multi-layered security measures.
FBTC has undergone comprehensive security audits. Proof of reserves is also available for real-time verification to ensure full transparency and is monitored by external security firms. For more details on how FBTC works, visit: docs.fbtc.com
Obtaining $FBTC is simple. Users can get started at http://fbtc.com/swap. Additionally, $FBTC liquidity on the Mantle Network is accessible via the following protocols: @MerchantMoe_xyz, @Agnidex, @odosprotocol, @BreederDodo, and @Bybit_Web3.
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