We are thrilled to share the exciting progress at Interlay last month. As a key player in the decentralized ecosystem, our mission has always been to foster innovation, scalability, and interoperability on Bitcoin.
General Updates
CoinGecko Feature
INTR, KINT, iBTC & kBTC are now featured under different categories on CoinGecko, the popular crypto data aggregator. Most notably INTR/KINT are now listed under:
- Bridge governance token: https://www.coingecko.com/en/categories/bridge-governance-tokens
- Polkadot Ecosystem: https://www.coingecko.com/en/categories/dot-ecosystem
- DEX tokens: https://www.coingecko.com/en/categories/decentralized-exchange
- L1 tokens: https://www.coingecko.com/en/categories/layer-1
Also, kBTC and iBTC are now featured under wrapped tokens quite prominently.
BOB Alpha Testnet is now live!
The First BOB Alpha on Testnet is now LIVE!
- Bitcoin smart contracts
- BTC Light Client
- Trustless P2P swap BTC <> ERC20 tokens
Check out this thread to know more 👇
Integrations
vDOT vaults are now live
vDOT vaults are now live on Interlay. vDOT asset can now be used as collateral for vaults. Vault operators no longer have to choose between L1 staking & bridge rewards & would be able to secure and earn from both.
A big step towards scaling the Trustless iBTC bridge via Liquid staking.
vDOT Lending and Borrowing Market Update
User can now Lend & Borrow vDOT and use vDOT as collateral to borrow iBTC, USDT and DOT on Interlay’s Bitcoin DeFi Hub.
Checkout this demo video below 👇
Community
October Community Call
Co-founder Alexei Zamyatin joined us for the Interlay Community Call to discuss our progress, new integrations, BOB & other important updates & future plans in our Bitcoin mission!
Here’s a short summary of the main talking points from the call:
- Now’s the right time to double down on the bitcoin ecosystem with the Hashrate at an all time high & the renaissance of bitcoin builder culture.
- Interlay is here to stay & we are working on scaling the bridge through different solutions like liquid staking assets & qTokens.
- The team is engaging on plans to provide iBTC as an alternative asset to diversify the DOT treasury.
- The team is also finalising the Banxa On/Off ramp integration for the Polkadot ecosystem having spearheaded it from the beginning.
- The eventual goal will be to unify Interlay & BOB as one suite of products once the Substrate < → EVM snowbridge is live & working as promised after compatibility tests.
- BOB will be the first specialised rollup stack focused on scaling use cases on Bitcoin.
- Community will be involved in all important discussions with a goal to maintain value accrual between the two ecosystems.
- Your support, feedback & participation going forward will be integral & hopefully we can all collectively propel the Bitcoin Renaissance!
Here’s the full recording of the call: https://drive.google.com/file/d/1pgKobgJgyV1R9h7EQh1l69ziM2vhHEhC/view?usp=drivesdk
Build on Bitcoin: Bitcoin Renaissance X space
We hosted an insightful space with our partners at BTC startup labs around the Bitcoin Builders Renaissance & the BOB Alpha Testnet demos.
Find the recording below:
BOB x Bitcoin Innovation Show
Co-Founder Alexei spoke about Bitcoin sidechains and L2s alongside Bitcoin legend Jameson Lopp and other BTC builders.
Check out the recording here:
Governance
It was a busy month of governance with some important referendums & discussions.
➡️Interlay Referendum #76
The proposal to enable Interlay to register Bifrost Native Coin (BNC) to increase the tokens available for incentivizing the Interlay lending market by the token holders.
Find more details here: https://interlay.subsquare.io/democracy/referenda/76
➡️Interlay Referendum #80
The proposal to immediately increase mint capacity for iBTC and improve the economic efficiency of the bridge & also reduce risk for vaults to make capital provision cheaper was passed by the token holders.
Find more details here: https://interlay.subsquare.io/democracy/referenda/80
➡️Interlay Referendum #78
The proposal which batches accept HMRP from Polkadex to Interlay and requests to open a HMRP channel from Interlay to Polkadex allowing assets to be transferred between the two parachains was passed by the token holders.
Find more details here: https://interlay.subsquare.io/democracy/referenda/78
➡️Interlay Referendum #82
Based on the results of the community poll (https://interlay.subsquare.io/posts/35), the proposal which aims to remove the 2% Inflation of INTR token and also deposit 12.5 m INTR into HydraDX’s Omnipool was passed by the token holders.
Find more details here: https://interlay.subsquare.io/democracy/referenda/82
That’s it from October, see you next month!
About Interlay
Interlay is the global layer for all things Bitcoin finance. BTC trading, lending, staking, and a way to deploy into other DeFi products. Trustless bridge at the core, AMM and money market on top, wrapped in a simple one-click interface with on/off-ramps and multi-chain support.
Follow both Interlay and Kintsugi on Twitter, join our Telegram, and hop in our Discord to keep up to date with daily updates from the team.
