dlcBTC has been launched on the Base Network
dlcBTC is now live on the Base Network. This further expands the use of Bitcoin in DeFi. In this article, learn about our reasons for choosing Base and the powerful features of our multi-network expansion plan.We are excited to announce that dlcBTC has officially launched on the Base Network, marking an important milestone in our mission to bring Bitcoin into decentralized finance (DeFi).
This release allows dlcBTC to join the ever-evolving ecosystem of Base, a Layer 2 (L2) network developed in collaboration between Coinbase and Optimism.
With this move, dlcBTC will provide users with enhanced scalability, lower transaction costs, and broader access to DeFi protocols and yield strategies.
What is Base?
Base is the next-generation Ethereum L2 that addresses some of the most pressing challenges in today's blockchain: scalability, high transaction fees, and slow transaction speeds.
DeFi transactions offer a secure, low-cost, and developer-friendly environment.
Base is committed to gradually achieving decentralization, and its open-source, permissionless nature makes it an ideal match for projects like dlcBTC that prioritize decentralization, security, and user autonomy.
Why Choose Base?
The decision for dlcBTC stems from the unique advantages of the network. It offers a range of features that align perfectly with dlcBTC's goal of making it easier for DeFi users to utilize Bitcoin while maintaining high security standards.
Here are the main reasons we launched on Base:
Powerful Features, Low Fees: Base provides fully EVM-equivalent functionality at a cost significantly lower than the Ethereum mainnet. This cost-effectiveness is crucial for users looking to engage in DeFi activities (such as staking, lending, and arbitrage) without incurring high transaction fees.
Faster Transaction Speeds: The processing speed of the Base chain is much faster than the mainnet, making it an ideal platform for users who require quick transaction completions.
Open Source Vision: Base is dedicated to decentralization, permissionless access, and openness to all, which perfectly aligns with dlcBTC's spirit of promoting decentralization and self-custody.
Seamless Integration with Coinbase: The integration of Base with Coinbase allows dlcBTC users to access a vast ecosystem with over 110 million users and $80 billion in assets. This opens new avenues for user participation, enabling dlcBTC to reach a broader audience and allowing more users to engage with Bitcoin in DeFi.
The Power of Multi-Network Expansion:
The mission of dlcBTC is to provide Bitcoin holders with secure and efficient access to DeFi protocols across multiple blockchains, not limited to a single network.
By expanding to different L1 and L2 networks, dlcBTC ensures that users have more options for interacting with DeFi, thereby reducing the risks associated with congestion or reliance on any single network.
Multi-network expansion has several key advantages:
Increased Accessibility: By being available on multiple networks, dlcBTC can reach a broader user base, including those who may prefer the unique features of specific networks (such as speed, security, or cost efficiency).
Enhanced Liquidity: Expanding to multiple networks increases the liquidity of dlcBTC, making it easier for users to transfer assets between platforms and access various DeFi opportunities.
Broader Ecosystem Participation: Different networks provide access to different DeFi protocols and communities. By appearing on multiple networks, dlcBTC can integrate with a wider array of DeFi projects, offering users more diverse yield options.
About Base
Base is an Ethereum L2 scaling solution designed to address some of the most pressing issues in today's blockchain world: scalability, high transaction fees, and slow transaction speeds.
Built by Coinbase and EVM-compatible, Base provides a powerful and efficient platform for decentralized applications (dApps) and smart contracts.
It is based on the modular and developer-friendly framework OP Stack, offering a seamless, low-cost experience for developers and users alike.
It is an attractive choice for DeFi developers and retail users.
About dlcBTC
dlcBTC is a more secure wrapped Bitcoin solution designed to bring the security and transparency of Bitcoin into DeFi.
Unlike traditional wrapped Bitcoin solutions that rely on centralized custodians, dlcBTC allows users to wrap their Bitcoin using Discreet Log Contracts (DLC), a technology developed by the co-founder of the Lightning Network at MIT.
This self-wrapping process ensures that users maintain full control of their Bitcoin, even in the event of a system failure, making dlcBTC a safer and more reliable choice for participating in DeFi.
Some key features of dlcBTC include:
Bitcoin-Level Security: All dlcBTC transactions occur on the Bitcoin blockchain, ensuring users enjoy Bitcoin-level security.
Anti-Theft Mechanism: dlcBTC utilizes a pre-signed mechanism to ensure that the DLC vault always pays only the depositors.
Safer Environment: Unlike other wrapped BTC solutions like wBTC, dlcBTC's design ensures a safer environment for DeFi participation by broadcasting transactions on-chain and eliminating custodial risks.
By securely and self-custodially bringing Bitcoin into the DeFi space, dlcBTC will fundamentally change the way Bitcoin holders interact with decentralized finance, providing them with a safer and more flexible way to utilize Bitcoin.
