tBTC on Aave Proposal Passes: A Milestone for Permissionless Money

We proudly announce that the proposal to onboard Threshold Network's tBTC to Aave v3 has been approved with 755.14K votes in favor, exceeding the required 320.00K votes and facing 0 votes against. 

Aave, one of the largest and most trusted money markets in the Ethereum ecosystem, has long been a cornerstone of DeFi. Aave’s liquidity pools are some of the most liquid and widely used in the entire DeFi space, meaning that tBTC holders will now have access to an array of lending and borrowing opportunities previously unavailable. The ability to earn yield on Bitcoin while keeping the principles of decentralization intact is a significant win. 

tBTC stands out because of its unique approach to wrapping Bitcoin. While most other wrapped Bitcoin solutions require a trusted central party to mint tokens, tBTC is fully decentralized. As a result, tBTC offers unparalleled security, transparency, and accessibility. 

The Importance of tBTC's Decentralized Bridge

At the heart of tBTC is a decentralized bridge maintained by the Threshold DAO. This bridge allows users to deposit their Bitcoin and mint tBTC, an ERC-20 token, in return. This bridge ensures users can interact with Ethereum’s ecosystem without relying on centralized custodians. 

Unlike other solutions, tBTC uses forward security and probabilistic signer selection to mitigate the risk of attacks. Even if an entity gains control of 51% of the network’s $T stake, they still couldn’t access previously bridged BTC.

A Step Towards Permissionless Money

The timing couldn't be better. As more institutional investors and DeFi participants seek ways to integrate Bitcoin into their portfolios without sacrificing decentralization, tBTC offers a solution that checks all the boxes. On-chain proof of reserves ensures complete transparency, while its governance model bolsters the trust needed for large-scale adoption. As tBTC becomes available on Aave, we anticipate a surge in adoption and could not be more excited. 

Mint tBTC and supply on Aave to put your Bitcoin to work today!\

Links

👾 Discord: https://discord.threshold.network/

🕊 X: https://x.com/TheTNetwork 

🏦 tBTC Mint Portal: https://dashboard.threshold.network/tBTC/mint

ℹ️ Docs: https://docs.threshold.network/