BTC on Ethereum: Announcing a Stake Capital & tBTC Partnership
tBTC — Use your ETH to bring Bitcoin to Ethereum 🔥
Via the tBTC network, BTC token holders can easily and safely put their collateral to work by depositing and redeeming BTC in DeFi, free of intermediaries. Each fungible tBTC asset minted is backed by BTC on a 1:1 basis.
As a permissionless system without intermediaries, new tBTC may be redeemed for BTC at any time. The tBTC architecture, built on the Keep Network is audited and fully open-source.
Stake Capital is one of the leading service providers of the emerging digital economy. Our services include a variety of financial instruments and services built on top of the leading DeFi and proof-of-stake networks.
As a premier node operator across the DeFi and staking space, Stake Capital brings extensive knowledge of the ecosystem to the tBTC & Keep networks. By meaningfully engaging in the community and adding our unique expertise, Stake Capital can bring significant value to the tBTC ecosystem.
Stake Capital adds tBTC node operation to our ever-growing portfolio of supported DeFi and PoS networks. In doing so, we add an innovative new offering for our network delegators. Additionally, via our upcoming launch of StakeDAO, stakers to our tBTC infrastructure will soon be able to also earn a stakeholder revenue share for participation in the DAO. (You can read more about StakeDAO here.)
Stake Capital is already running a Keep node for the current tBTC testnet. By operating this node, Stake Capital helps maintain robust interoperability of BTC on the Ethereum network.
Considering recent events in the ecosystem around Bitcoin-to-Ethereum bridges, we particularly selected tBTC to support as the Bitcoin bridge with the strongest architecture. tBTC is tamper-proof and avoids challenges of asset custody by employing a fully decentralized design.
We will continue to work closely with the tBTC team as the Keep network is expanded and built out, providing assistance and feedback from a node operations perspective and furthering our mutual integrations. Stake Capital will also be participating in the Keep and tBTC Mainnet launch currently announced for April 27th, 2020.
KEEP Stakedrop
tBTC will run a Stakedrop where KEEP tokens will be earned by staking ETH over a period of time. Normally, tBTC signers will need to stake both KEEP and ETH tokens. However, by participating in the Stakedrop, people with no KEEP tokens will be able to act as signers using only their ETH, with the corresponding KEEP tokens earned over time. Stake Capital will participate in the Stakedrop by locking ETH to act as a permissionless signer on tBTC to earn both TBTC and KEEP for delegators while helping bridge the world’s two leading blockchains. The Stakedrop will take place on June 8th at 12pm EST.
To learn more about tBTC and its underlying mechanics please visit their website. Get engaged with Stake Capital and StakeDAO via our available channels below.
