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Right now, Bitcoin only exists on the Bitcoin blockchain. To use it on other chains, BTC needs to be “wrapped”, meaning a 1:1 representation of BTC on another network is created, often as a native token. Nearly all wrapped BTC relies on centralized solutions controlled by trusted intermediaries or exchanges. Holders using those solutions must give up the single most important characteristic that makes Bitcoin a valuable asset: its decentralization
We need ways to enable the trustless transfer between chains, ensuring that holders can access DeFi safely and without losing the main benefits of Bitcoin. A decentralized system that enables interoperability on Bitcoin opens up a world of possibilities to reimagine the future of blockchain, finance, and humanity.