Cardano’s AnetaBTC Launches Testnet for On-Chain Wrapped BTC
AnetaBTC aims to bring on-chain wrapped BTC to Cardano and Ergo to boost DeFi opportunities
The Cardano testnet is now live, allowing for the minting of cBTC, a BTC asset on Cardano similar to wBTC on ETH.
AnetaBTC, a project that aims to bring Bitcoin liquidity to Cardano and Ergo blockchains, has announced that the Cardano testnet is now live. The project, which launched its public testnet for the Ergo blockchain in January, seeks to contribute to the anticipated DeFi explosion of these leading blockchains by bringing on-chain wrapped BTC.
The launch of the Cardano testnet is a significant milestone for the project, as it allows for the minting of cBTC, a BTC asset on Cardano similar to wrapped Bitcoin (wBTC) on Ethereum.
AnetaBTC Brings Bitcoin Liquidity to Cardano and Ergo
AnetaBTC’s goal is to bring Bitcoin liquidity to the Cardano and Ergo blockchains, thereby enhancing their DeFi capabilities. Wrapped BTC is an ERC-20 token that represents Bitcoin on the Ethereum blockchain, providing Bitcoin liquidity on the platform. Similarly, cBTC will allow Cardano users to benefit from Bitcoin liquidity, providing new opportunities for DeFi projects on the Cardano blockchain.
The launch of the Cardano testnet is a major step towards the launch of the anetaBTC mainnet protocol on Cardano. It also demonstrates the project’s commitment to expanding DeFi capabilities on Cardano and Ergo.
By bringing Bitcoin liquidity to these blockchains, AnetaBTC hopes to attract more users to Cardano and Ergo and enable developers to build more sophisticated DeFi applications.
In conclusion, the launch of the Cardano testnet for AnetaBTC is a significant development for the project and the Cardano and Ergo blockchains. The availability of cBTC on Cardano will provide a new level of liquidity and opportunities for DeFi projects on the platform. As the project moves closer to its mainnet launch, it will be interesting to see how AnetaBTC impacts the DeFi landscape on Cardano and Ergo.
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Filed under: Bitcoin - @ April 23, 2023 12:00 pm