The post sBTC lands on the Stacks mainnet: DeFi unlocked on Bitcoin appeared on BitcoinEthereumNews.com.

According to reports from Bitcoin L2Labs, the organization leading the development of Bitcoin Stacks layer-2, the launch of sBTC has been made official. The new programmable resource, guaranteed by BTC at a 1:1 ratio, will help to enhance the chain’s DeFi ecosystem, introducing new yield opportunities. This news comes a few weeks after the success of the Nakamoto update, which improved the scalability of Stacks. All the details below. Stacks announces the official launch of sBTC on mainnet. Today, Bitcoin L2 Labs, an organization focused on the core development of Stacks, revealed to the public the launch of the sBTC coin on the mainnet. Let’s talk about a programmable asset, guaranteed by 1:1 collateral in BTC, which brings the decentralization of the world’s number 1 crypto outside of its main structure. sBTC is guaranteed by a network of institutional signatories that reduce the need for trust between individual entities. The token code is open-source and transparent, publicly verifiable by anyone. Its security is offered by the hash power of the L1 Bitcoin, which today is considered the most impenetrable network in the world with a power of 794 million TH/s. December 17th at 11 AM ET 🟧 pic.twitter.com/IK3vjXPfrY — stacks.btc (@Stacks) December 16, 2024 For those who do not know, Stacks is a layer-2 solution born in 2021, which allows smart contracts and decentralized applications (dApp) to use Bitcoin as a secure base layer. The launch of sBTC represents a major milestone for the project, as it unlocks a new approach for the cryptographic economy of Bitcoin. The asset can be used in loans through lending protocols like Zest, or for decentralized trading on DEX like Bitflow and ALEX.  Other utilities concern the creation of AI agents on the aiBTC platform, in line with the current market trends. The launch…

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Filed under: News - @ December 17, 2024 7:26 pm