Bitcoin derivatives hit Starknet and Sui
Recent integrations of Lombard’s LBTC and Stacks’ sBTC are expanding opportunities for Bitcoin holders in cross-chain DeFi across emerging blockchain ecosystems. On Starknet, the Starknet Foundation and Lombard Protocol are introducing LBTC, a liquid representation of staked Bitcoin with 1:1 backing by native BTC reserves, aimed at enabling yield generation without relinquishing custody. Meanwhile, sBTC is being developed for the Sui ecosystem, utilizing a multisig secured by 15 reputable institutional signers. This will allow for a trust-minimized, non-custodial bridge to Sui, preserving Bitcoin's security while introducing new lending, borrowing, and trading opportunities. Sui is expected to become an alternative hub for BTCfi, with over 10% of its total TVL derived from Bitcoin assets. Both developments signal a shift towards decentralized solutions in the provisioning of Bitcoin liquidity, appealing to holders interested in self-custody and yield opportunities.
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