Summary
DLC.Link offers a trust-minimized way to wrap bitcoin for DeFi protocols, using Discreet Log Contracts to ensure security. The process involves attestors and self-wrapping by users, with plans to decentralize in the future. DLC.Link charges competitive fees compared to BitGo for wBTC. The dlcBTC tokens can be used in various DeFi protocols on Arbitrum, and partnerships with STS Digital and THORchain are in place. The project aims to expand to other chains in the future based on customer demand.
Key Points
1. Institutional holders of bitcoin can earn a yield on their assets in DeFi protocols by sending it to BitGo for wrapped bitcoin (wBTC).
2. DLC.Link offers a trust-minimized way to wrap bitcoin using Discreet Log Contracts, allowing owners to retain full ownership of their coins on the Bitcoin network.
3. DLC.Link’s dlcBTC token debuts on Arbitrum, utilizing a set of “attestors” to monitor blockchain events and validate outcomes, ensuring the security of deposited BTC.