Defi for Bitcoin: Collateral Peg Platform Provides Noncustodial BTC Lending on Ethereum

During the second week of February, a new project called tBTC was unveiled that is similar to the Wrapped Bitcoin (WBTC) created with the Ethereum network. On January 30, 2019, the Wrapped Bitcoin (WBTC) project launched on the Ethereum network using the ERC20 standard.

“Wouldn’t it be funny if tBTC enables a Bitcoin fee market built on Ethereum,” another crypto Twitter personality commented. The whitepaper also says that tBTC must be redeemable, stating: Currently, the WBTC project created by Bitgo, Kyber Network, and Ren is a popular vehicle to wrap bitcoins.

Timeline of Bitcoin, Ethereum, Kyber-network, Ren