Bitcoin will soon be available for DeFi-projects

The tBTC token (ERC-20) is expected to be launched within two weeks, which will be provided by bitcoins. The project is supported by MakerDao, Uniswap, Compound, and other DeFi services.

The new token is a joint project of Keep Network and Summa, its task is to open a decentralized finance market for Bitcoin owners.

The scheme of work is as follows: a special application generates a BTC address where you need to send bitcoins and then the smart contract will charge the same amount of tBTC. It is stated that the reverse operation will be just as simple and it will be possible to collect bitcoins at any time, provided that a similar amount of tBTC is returned.