{"id":12844,"date":"2024-04-23T16:00:07","date_gmt":"2024-04-23T13:00:07","guid":{"rendered":"https:\/\/forklog.com\/en\/mantle-and-antalpha-prime-introduce-bitcoin-based-omnichain-asset\/"},"modified":"2024-04-23T16:00:07","modified_gmt":"2024-04-23T13:00:07","slug":"mantle-and-antalpha-prime-introduce-bitcoin-based-omnichain-asset","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mantle-and-antalpha-prime-introduce-bitcoin-based-omnichain-asset\/","title":{"rendered":"Mantle and Antalpha Prime Introduce Bitcoin-Based Omnichain Asset"},"content":{"rendered":"<p>The teams behind Mantle Network and Antalpha Prime are set to launch FBTC, a Bitcoin-pegged omnichain asset designed to unlock the potential of the leading cryptocurrency within the DeFi sector.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">? Fan the flames of Bitcoin&#8217;s revolution with FBTC.<a href=\"https:\/\/t.co\/Z9VhAL5DIV\">https:\/\/t.co\/Z9VhAL5DIV<\/a><\/p>\n<p>\u2014 Mantle (@0xMantle) <a href=\"https:\/\/twitter.com\/0xMantle\/status\/1782714176903033076?ref_src=twsrc%5Etfw\">April 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the announcement, FBTC will be able to move freely between networks, enabling participation in various yield-generating strategies.<\/p>\n<p>Initially, following its launch in May, the asset is expected to be available on:<\/p>\n<ul class=\"wp-block-list\">\n<li>Ethereum (including L2 protocols Mantle, Arbitrum, Optimism, Base, Linea, etc.);<\/li>\n<li>Solana; <\/li>\n<li>Aptos; <\/li>\n<li>Sui; <\/li>\n<li>Merlin Chain; <\/li>\n<li>BNB Smart Chain; <\/li>\n<li>Polygon POS.<\/li>\n<\/ul>\n<p>Developers noted that despite Bitcoin&#8217;s market capitalization of $1.3 trillion, its share of the <span data-descr=\"total value locked in smart contracts\" class=\"old_tooltip\">TVL<\/span> in the decentralized finance ecosystem is only 4%. In comparison, Ethereum accounts for 75%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe launch of FBTC is a significant milestone in integrating Bitcoin into the world of smart contracts and realizing its potential in DeFi,\u201d stated Mantle&#8217;s head, Jordi Alexander.<\/p>\n<\/blockquote>\n<p>Among the \u201cinnovative opportunities\u201d for using the asset, the teams highlighted: <\/p>\n<ul class=\"wp-block-list\">\n<li>staking on the <a href=\"https:\/\/forklog.com\/en\/news\/babylon-launches-testnet-for-bitcoin-staking-protocol\">Babylon<\/a> platform;<\/li>\n<li>trading on centralized and decentralized exchanges using high-frequency trading strategies;<\/li>\n<li>leveraged mining;<\/li>\n<li>yield farming on platforms like Pendle.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWith FBTC, the Bitcoin ecosystem enters a new era of functionality, turning any other blockchain into an L2 solution for its expanding domain,\u201d the developers concluded.<\/p>\n<\/blockquote>\n<p>Earlier, Bernstein analysts predicted a \u201cDeFi summer\u201d for Bitcoin due to record fees following the halving.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The teams behind Mantle Network and Antalpha Prime are set to launch FBTC, a Bitcoin-pegged omnichain asset designed to unlock the potential of the leading cryptocurrency within the DeFi sector. ? Fan the flames of Bitcoin&#8217;s revolution with FBTC.https:\/\/t.co\/Z9VhAL5DIV \u2014 Mantle (@0xMantle) April 23, 2024 According to the announcement, FBTC will be able to move [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1093,1417],"class_list":["post-12844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-defi","tag-mantle"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12844"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12843"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}