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What will be the primary reason for the acceptance or rejection of the Threshold Network's $36.5M merger proposal for WBTC by end of 2024?
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Resolution / Starting Odds
Security Concerns • 25%
Economic Viability • 25%
Regulatory Issues • 25%
Other • 25%
Official statements from Threshold Network, BitGo, or WBTC DAO
Story
Threshold Proposes $36.5M Merger to Make WBTC 1:1 Redeemable
Aug 29, 2024, 05:19 PM
A proposal has been made to address the trust crisis surrounding Wrapped Bitcoin (WBTC) by merging it with the Threshold Network's tBTC project. The plan involves minting approximately $36.5 million in T tokens, representing 15% of the T supply, which would be vested to BitGo. In exchange, BitGo, along with existing merchants and the WBTC DAO, would transfer WBTC mint, redeem, and freeze privileges and custody to Threshold. This proposal aims to make WBTC and tBTC redeemable on a 1:1 basis, potentially stabilizing the WBTC ecosystem.
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Coinbase • 25%
Justin Sun • 25%
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cbBTC significantly reduces WBTC market share • 25%
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cbBTC slightly reduces WBTC market share • 25%
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