The Good Tech Companies - Omnichain BTC Asset FBTC Crosses $100M In TVL, Ignition Unveils “Sparkle” Campaign"

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Omnichain BTC Asset FBTC Crosses $100 Million in TVL, Ignition Unveils, Sparkle, Campaign? By Chainwire, Singapore, Singapore, August 21, 2024, Chainwire. Following the launch of FBTC, an omnichain Bitcoin asset maintaining a 1-to-1 peg to BTC, Ignition Today announced that FBTC has crossed $100 million in total value locked TVL, according to Dune. Also announced is the Sparkle campaign, where early FBTC holders will receive points inspired, sparks, for future rewards. FBTC is supported by Core Contributors Mantle, a burgeoning DAO-led blockchain ecosystem built around Ethereum Layer 2, L2, Mantle Network and

Starting point is 00:00:52 Ether Liquids taking protocol Meth Protocol, and Antalpha Prime, a reliable digital asset technology platform for institutions. As tokenized Bitcoin assets pave the way for Bitcoin's resurgence in DeFi, FBTC's significant milestone ushers in a new era of Bitcoin's evolving utility and velocity, transforming the original cryptocurrency from a simple store of value into a dynamic asset that offers the potential for various yield-generating possibilities. Incubated by Ignition, FBTC is an omni-chain BTC asset that is liquid and easily composable in various yield enhancement strategies. FBTC aims to liberate the growth potential of Bitcoin by becoming the standard for Bitcoin transactions, essentially rendering all other blockchains into

Starting point is 00:01:37 a Bitcoin L2. FBTC is currently deployed on Ethereum, Mantle Network and BNB Smart Chain, with more supported blockchains to come. Greater than, the remarkable achievement of $100 million in TVL for FBTC in such a short time is greater than not just a significant milestone for this nascent BTC asset, but a testament greater than to the evolving landscape of Bitcoin utility. FBTC's rapid adoption, supported greater than by Ignition's diverse ecosystem of partners, signals a new chapter in greater-than-decentralized finance, DeFi, where Bitcoin's potential is being fully realized greater than across multiple blockchains.

Starting point is 00:02:17 As Ignition continues to innovate and expand greater than FBTC's capabilities, we're not just creating opportunities for yield. We're greater than reimagining how Bitcoin interacts with the broader DeFi ecosystem, said greater than Igneous Tarinus, Paramount Pyromancer at Ignition. FBTC's rapid adoption is supported by dozens launch partners, including heavyweights such as Avalon Labs, Bybit Web3, Kobo, Athena Labs, OKExWallet, Pendle and Solve Protocol, reflecting FBTC's credibility and the industry's evolving interest in innovative Bitcoin solutions. With FBTC, Ignition aims to create a seamless, multi-chain environment for users to efficiently explore DeFi yields. The ability to swap and bridge FBTC between Ethereum, Mantle Network and BNB Chain

Starting point is 00:03:04 further enhances its utility, making it accessible for a majority of blockchain users. Today, holders of FBTC are able to leverage their idle Bitcoin holdings across several yield-generating opportunities on Ethereum, Mantle Network and BNB Chain, enabling a wider range of use cases on various L1s and L2s that will be unveiled soon. Ignition also unveiled its plans for an upcoming Sparkle campaign. Participants will receive points inspired sparks for their engagement with and contributions to the FBTC ecosystem. Running from August 21 to September 21, eligible protocols for the Sparkle campaign include PumpBTC, Bedrock, Mezzo Network, Avalon Labs, Fuel Network, Pell Network and Solve Protocol.

Starting point is 00:03:50 Throughout the Sparkle campaign, Ignition will continue to integrate new protocols, launch side campaigns, and offer external incentives to enhance the user experience and reward system. Find out more at https:// slash slash FBTC.com. Ongoing campaign. Looking ahead, Ignition is collaborating with Babylon, the self-custodial Bitcoin staking protocol that aims to build a Bitcoin-secured decentralized world, to launch a BTC vault that gives users exposure to Babylon natives' taking. This undertaking, along with other exciting events and collaborations, underscores Ignition's unwavering commitment to building a vibrant, community-driven ecosystem around FBTC.

Starting point is 00:04:30 The rapid adoption and strong security of FBTC signals a promising future for Bitcoin's evolving role in the DeFi landscape, propelling it to fully unlock its immense potential within the broader decentralized finance ecosystem. About Ignition FBTC Incubated by Ignition, FBTC is a secure, decentralized, and composable BTC assetembed at liberating Bitcoin's true power of growth. FBTC provides a liquid Bitcoin asset that adheres to a one-to-one peg with BTC to redefine its role across all blockchain platforms. By fostering DeFi composability, cross-chain interoperability, and promoting widespread adoption of BTC applications, FBTC represents the beacon of a high-speed, low-friction and interoperable future for all

Starting point is 00:05:17 blockchains and every tokenized economy to flourish. FBTC is powered by core contributors Antalpha Prime and Mantle. For more information, users can visit website, x, twitter, discord, telegram contact FBTC Windranger Labs at Waxman.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.

The Good Tech Companies - Omnichain BTC Asset FBTC Crosses $100M In TVL, Ignition Unveils “Sparkle” Campaign"

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