Dear Fringe community,
After this integration, $wBTC holders will have the opportunity to leverage their tokens on Fringe’s PLP to secure stablecoin loans. This enables them to maximize the capital efficiency of their assets while maintaining full ownership.
Bitcoin’s native blockchain is not able to communicate with Ethereum’s. For that reason, wrapped ERC-20 assets backed by native Bitcoin are the most common solution to enable the interaction between Bitcoin and the Ethereum DeFi ecosystem.
$wBTC is an ERC-20 token that follows Bitcoin’s price and is redeemable 1:1 for real Bitcoin. It is a community-led initiative, governed by the Wrapped Bitcoin DAO.
BitGo is the Wrapped Bitcoin DAO’s currently chosen custodian, while several partners provide their services as merchants, intermediating the minting and burning of $wBTC between the custodian and users.
About Fringe Finance
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported network. With a next-generation DeFi lending & borrowing ecosystem, Fringe aims to unlock the dormant capital from traditional financial markets and all-tier cryptocurrencies.
For more information on Fringe Finance, visit our website.
About Wrapped Bitcoin
Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin. Completely transparent, 100% verifiable, and community led.
WBTC brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. Today, the majority of trading volume takes place on centralized exchanges with Bitcoin. WBTC changes that, bringing Bitcoin’s liquidity to DEXs and making it possible to use Bitcoin for token trades.
For more information on Wrapped Bitcoin, visite their website.