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Market
Will sBTC be bridgeable to Solana by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from Stacks or Solana
Story
Stacks Launches sBTC on Mainnet, Aiming to Unlock $2 Trillion in Bitcoin Liquidity with 5% APY
Dec 17, 2024, 04:32 PM
Stacks, a leading Bitcoin Layer 2 solution, has launched sBTC on its mainnet, marking a significant development in the Bitcoin ecosystem. sBTC is designed to unlock over $2 trillion worth of Bitcoin liquidity for decentralized finance (DeFi) applications. Users can lock their Bitcoin in a decentralized multi-signature protocol managed by Stacks signers and receive sBTC tokens in return, which are backed 1:1 by Bitcoin. These tokens can be used for various DeFi activities such as trading, lending, and arbitrage. sBTC offers an annual percentage yield (APY) of 5%, with rewards distributed biweekly. The launch of sBTC is supported by key industry players including BitGo, Asymmetric, and Ankr, and aims to enhance Bitcoin's utility in DeFi, with an initial cap set at 1,000 BTC. Withdrawals back to the Bitcoin network will be enabled in March 2025, and sBTC is expected to be bridgeable to chains like Solana and Aptos in the future.
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Similar markets
Yes, by a major exchange • 25%
Yes, by a DeFi platform • 25%
Yes, by an independent developer • 25%
No major competitor • 25%
Less than 500,000 • 25%
500,000 to 1,000,000 • 25%
1,000,001 to 1,500,000 • 25%
More than 1,500,000 • 25%