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anetaBTC

AnetaBTC

AnetaBTC is a protocol that allows Bitcoin to be directly wrapped on the Cardano and Ergo blockchains. This allows Bitcoin holders to access the full value of their assets in a secure and efficient manner, enabling them to utilize Cardano decentralized exchanges (DEXs), participate in lending protocols, and more.
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Description

AnetaBTC is a protocol that allows Bitcoin to be directly wrapped on the Cardano and Ergo blockchains. This allows Bitcoin holders to access the full value of their assets in a secure and efficient manner, enabling them to utilize Cardano decentralized exchanges (DEXs), participate in lending protocols, and more. AnetaBTC serves a similar purpose to wBTC, which is a 1:1 BTC-backed token on the Ethereum blockchain. wBTC is currently the largest wrapped Bitcoin protocol, with over $4 billion of locked Bitcoin value. However, unlike wBTC, the AnetaBTC protocol will evolve to become fully decentralized through three versions. In August 2023, we launched our v1 mainnet on Cardano.