The Nomic DAO Foundation announces the launch of a Bitcoin 1:1 backed token, nBTC, on Berachain
The development team behind Nomic Network, the Nomic DAO Foundation, announced the launch of a Bitcoin 1:1 support token nBTC on Berachain, an Ethereum-compatible L1 network.
Previously, Nomic had upgraded Ethereum to make nBTC natively available as an ERC token on Ethereum and could be deployed to EVM-compatible chains.
The team stated: "This integration allows users to directly deposit BTC to obtain nBTC, bringing a large amount of Bitcoin liquidity into the Berachain ecosystem that operates with a unique liquidity proof consensus model.
This will enhance Bitcoin's capabilities in Berachain's growing ecosystem, provide developers with the ability to integrate nBTC into DeFi protocols and build BTC-supported applications without relying on centralized intermediaries."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ETH market share rebounds to 13.3%
Ethereum L2 TVL Rises to $45.19 Billion
1,999 BTC Transferred Between Unknown Wallets, Worth Approximately $236 Million
Crypto prices
More
