sBTC has been launched on the Stacks mainnet
Dec 18, 2024 09:28:41
ChainCatcher message, Stacks announced on X that sBTC has been launched on the Stacks mainnet. sBTC achieves trustlessness, security, and transparency through 1:1 Bitcoin backing, institutional signature networks, and Bitcoin hash power support, facilitating the Bitcoin DeFi ecosystem. In the initial phase, only deposits are supported, with a liquidity cap of 1000 BTC, and it offers annual rewards of up to 5%.
Withdrawal functionality will be enabled in the first quarter of 2025, liquidity caps will be increased, and the permissionless signature network will be advanced.