Trench Bitcoin price

This is just the beginning. tBTC will be the most accessible and most decentralized Bitcoin onchain and in DeFi. 💪 Here's how we're making this happen with @Starknet :

So now I've seen governance proposals floated from two major alts of cycles past about selling the native token held in treasury to acquire BTC I don't care all that much about the Cardano proposal...and frankly there's like 17 people in the world that have actually used ADA before, so they probably also don't care, but I am a lot more curious about the Polkadot proposal. ~500k DOT being put up for tBTC acquisition. It's really not a ton in the grand scheme of things...like what $2m? From a pragmatism standpoint, I can see a scenario where they want to use it to farm DeFi yield and beef up the treasury some more, and that's better than idle coins. It would also make sense to highlight their flagship DeFi protocol in Hydration. At the same time, if foundations are starting to liquidate treasury tokens for BTC, will that cause concern or delight for stakeholders in their ecosystems? I'm really not sure. If it was a treasury that got returned to holders eventually (like crypto treasury companies) that might be more palatable, but when the native token holders don't have any claim on the treasury, I'm undecided what the outcome would be. At the end of the day it's mostly a wash because $2m isn't a large portion of the warchest for these size chains, but still interesting to see more discussion on the topic.

Going to start sharing reviews I personally find interesting 📝 First post - looking at @thetnetwork’s tBTC implementation on @starknet. tBTC is a wrapped bitcoin asset on Ethereum that is moved onto Starknet via StarkGate. From my view, the core trust assumptions are: - Trust the Threshold Network to keep tBTC on Ethereum backed 1:1 with BTC - Trust the underlying StarkGate bridge contract to keep tBTC on Starknet backed 1:1 with tBTC on Ethereum - Trust the core Starknet systems contracts and their upgrade mechanisms (i.e. the 9/12 Starknet security council) - Users trust that a single signer does not execute malicious upgrades to the tBTC StarkGate contract. There’s a three day delay to upgrades. - If a malicious upgrade is implemented, users trust that the Starknet minority security council (3/12 threshold) will propose their withdrawal requests to exit StarkGate prior to the exit window passing Blog-ish version👇 Threshold Network’s tBTC is a token on Ethereum backed 1:1 by bitcoin. The bitcoin backing tBTC is secured by 35 signers participating in the Threshold Network. Starknet is an Ethereum rollup - a network that posts its state data to Ethereum. Starknet uses validity proofs to ultimately finalize L1 bridge programs. tBTC’s bridge contract, a StarkGate implementation, is one of these programs. To mint tBTC onto Starknet, users lock funds into the tBTC StarkGate bridge contract. The bridge contract then passes a message to Starknet to mint the corresponding amount of tBTC tokens on Starknet. To facilitate withdrawals, STARK proofs come in. STARKs are cryptographic proofs that essentially convince bridge programs of the current state of the Starknet network. After the bridge is convinced of this state, users can withdraw from the bridge. If users wanted to fully withdraw to native BTC, they would have to go through the Threshold Network’s signers. All in all, I think this implementation will be pretty sound once governance controls are distributed. If they upgrade governance controls to the Threshold Committee signer set, then a 6/9 federation would be responsible for executing upgrades. It’s my understanding that this committee is currently being updated/reelected, so that may be why the committee doesn’t currently oversee governance upgrades.

Going to start sharing things I find interesting while researching stuff 📝 First post - looking at @thetnetwork’s tBTC implementation on @starknet. tBTC is a wrapped bitcoin asset on Ethereum that is moved onto Starknet via StarkGate. The core trust assumptions are: - Trust the Threshold Network to keep tBTC on Ethereum backed 1:1 with BTC - Trust the underlying StarkGate bridge contract to keep tBTC on Starknet backed 1:1 with tBTC on Ethereum - Trust the core Starknet systems contracts and their upgrade mechanisms (i.e. the 9/12 Starknet security council) - Users trust that a single signer does not execute malicious upgrades to the tBTC StarkGate contract. There’s a three day delay to upgrades. - If a malicious upgrade is implemented, users trust that the Starknet minority security council (3/12 threshold) will propose their withdrawal requests to exit StarkGate prior to the exit window passing Blog-ish version👇 Threshold Network’s tBTC is a wrapped bitcoin asset. The bitcoin backing tBTC is secured by 35 signers participating in the Threshold Network. tBTC is an ERC-20 token that is backed 1:1 by BTC secured by the Threshold Network. Starknet is an Ethereum rollup - a network that posts its state data to Ethereum. Starknet uses validity proofs to ultimately finalize L1 bridge programs. tBTC’s bridge contract, a StarkGate implementation, is one of these programs. To mint tBTC onto Starknet, users lock funds into the tBTC StarkGate bridge contract. The bridge contract then passes a message to Starknet to mint the corresponding amount of tBTC tokens on Starknet. To facilitate withdrawals, STARK proofs come in. STARKs are cryptographic proofs that essentially convince bridge programs of the current state of the Starknet network. After the bridge is convinced of this state, users can withdraw from the bridge. If users wanted to fully withdraw to native BTC, they would have to go through the Threshold Network’s signers. Still, users must keep in mind the various upgrade mechanisms around this implementation 🙂 All in all, I think this implementation will be pretty sound once governance controls are distributed. If they upgrade governance controls to the Threshold Committee signer set, then a 6/9 federation would be responsible for executing upgrades. It’s my understanding that this committee is currently being updated/reelected, so that may be why the committee doesn’t currently oversee governance upgrades.

🆕 New Starknet $STRK event! 16 Jun 2025 TBTC on Starknet Source: