tBTC Joins EigenLayer: Expanding Bitcoin's Utility

Threshold Network, the force behind tBTC, a decentralized asset bridging Bitcoin and Ethereum, has announced that EigenLayer, the restaking protocol, is now accepting tBTC deposits. This integration marks tBTC as the first incentivized bitcoin asset on EigenLayer.

• This move highlights the growing demand for staked bitcoin within the BitcoinFi ecosystem.
• The integration of tBTC with EigenLayer signifies a major shift towards maximizing the earning potential of bitcoin.
• tBTC's flexibility and decentralization have already attracted integrations with leading protocols such as Curve, GMX, and Compound.

The Power of Bitcoin Restasking

The Threshold Network DAO, governing tBTC, offers incentives of up to $45K in T for new users who deposit tBTC into EigenLayer over the first 3 months.

• EigenLayer allows users to secure additional protocols through restaking, maximizing capital efficiency.
• This approach leverages bitcoin's stability and non-inflationary nature, merging it with the Proof of Stake (PoS) consensus model.
• The potential for bitcoin as a PoS asset is underscored by the fact that restaking just 7% of its total supply could provide the same economic security as Ethereum.

Open Innovation in the Bitcoin Ecosystem

EigenLayer's adoption of tBTC signifies the growing power of bitcoin restaking, incentivizing users to actively utilize bitcoin beyond its role as a store of value.

• The integration of tBTC with EigenLayer facilitates open innovation by building connections between the bitcoin and Ethereum ecosystems.
• This move expands the scope of assets that can contribute to securing decentralized networks, offering greater optionality and utility for both AVSs (Actively Validated Services) and restakers.
• tBTC's ability to bridge the Bitcoin and Ethereum ecosystem positions it as a key driver for the development of the BitcoinFi ecosystem.

Threshold Network: Decentralized Cryptography Services

Threshold Network offers decentralized cryptography services that enhance privacy and security on public blockchains.

• The network distributes operations across independent nodes, minimizing reliance on centralized entities.
• Powered by the T token, users can stake and operate nodes to support key services like tBTC, a Bitcoin bridge, and TACo, an access control tool.
• Threshold aims to provide trustless, secure, and privacy-focused solutions for decentralized applications in the evolving Web 3.0 landscape.

EigenLayer: Pioneering Restasking

EigenLayer is a protocol built on Ethereum that pioneered restaking, a novel approach to cryptoeconomic security.

• Through a system of interconnected smart contracts, any ERC-20 token, such as tBTC, can be "restaked" to participate in multiple AVSs in exchange for fees or rewards.
• Operators can opt into these opportunities by running additional node software, granting EigenLayer smart contracts the ability to impose additional slashing conditions on their assets.

Unlocking Bitcoin's Potential

The integration of tBTC on EigenLayer represents a significant step in unlocking bitcoin's full potential as a versatile and secure asset for the decentralized finance (DeFi) ecosystem.

• This integration offers users a new way to earn rewards on their bitcoin holdings, further incentivizing participation in the blockchain space.
• The growing adoption of tBTC across various DeFi platforms underlines its importance in driving the development of a more interconnected and secure crypto landscape.
• As the lines between Bitcoin and Ethereum continue to blur, the future of decentralized finance is poised for further innovation, fueled by the increasing integration of bitcoin into the DeFi ecosystem.