- Mantle’s FBTC, a 1:1 Bitcoin-pegged asset, enhances Bitcoin’s DeFi usability by unifying liquidity across chains.
- FBTC offers Bitcoin holders new DeFi opportunities like lending and staking, leveraging Ethereum Layer 2 for enhanced value.
- MetaCene’s CARRY, inspired by Yale’s “ServerFi,” advances blockchain gaming with Realms Server Network and ServerPass for immersive gameplay.
Ethereum Layer 2 network a brand-new asset FBTC was introduced by Mantle and has a 1:1 link to Bitcoin. This will increase the suitability of Bitcoin for decentralized financing (DeFi). With the launch of FBTC, Mantle—which is well-known for its Ethereum-based solutions—and Ignition collaborated to broaden their asset portfolio beyond Ethereum-based tokens like $mETH.
Enhancing Bitcoin’s DeFi Usability
FBTC is designed to tackle key issues in the Bitcoin finance (BTCFi) sector, such as liquidity fragmentation and poor user experiences. By leveraging Ethereum Layer 2, FBTC aims to unify liquidity across various chains. This integration offers Bitcoin holders new opportunities to engage in lending, staking, and liquidity provision, which were previously limited or unavailable to them.
The asset is fully backed by Bitcoin on a 1:1 basis, ensuring that each FBTC token corresponds directly to an equivalent amount of Bitcoin. This backing is safeguarded through advanced cryptographic techniques, including Multi-Party Computation (MPC) and Threshold Signature Schemes (TSS). These measures guarantee the security and proper management of Bitcoin assets within the blockchain ecosystem.
The introduction of FBTC aligns with the rapid expansion of DeFi. More and more Bitcoin owners are trying to make the most money possible. Users can now engage in yield-generating activities on Ethereum Layer 2 by exchanging their Bitcoin for FBTC, which will raise the value of their Bitcoin holdings. As a result, it is anticipated that FBTC will draw additional Bitcoin owners to the DeFi domain, expanding its scope even more.
MetaCene Advances Blockchain Gaming
MetaCene has launched CARRY, the first product inspired by the “ServerFi” concept from Yale University. This innovation promises to elevate blockchain gaming, offering a new dimension of decentralized game economies. The Gold Rush playtest on Mantle highlights MetaCene’s commitment to advancing blockchain gaming.
MetaCene’s Realms Server Network, introduced in their June whitepaper, aims to create an immersive virtual environment for gamers. Realms NFT, central to this network, provides benefits such as asset allocation and governance. Additionally, the CARRY system introduces ServerPass, allowing players to engage in mini-games and understand MetaCene’s Server Network better.
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