Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

United States and the U.K. To Announce Closer Crypto Cooperation With Focus on Stablecoins: Report 

September 16, 2025

Cardano vs Layer Brett: ADA Price Expected To Jump 20% This Year, but LBRETT Could See 5,000% Growth

September 16, 2025

XRP Price Will End 2025 Below $2 Claims Prediction BOT As Remittix Launches 15% USDT Rewards & Certik KYC Approved

September 16, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Threshold community proposes merger to safeguard WBTC amid growing concerns

0
By Aggregated - see source on September 3, 2024 Crypto News
Share
Facebook Twitter LinkedIn Pinterest Email
  • Threshold community proposes merging tBTC with WBTC.
  • The proposal is driven by concerns over WBTC’s stability due to Justin Sun’s involvement.
  • According to the proposal, BitGo will receive T tokens, becoming a major stakeholder in Threshold Network.

In a strategic move to protect the future of Wrapped Bitcoin (WBTC), a proposal dubbed “#saveWBTC – a merger with Threshold’s tBTC” has been put forward to merge the decentralized tBTC token of Threshold with BitGo’s WBTC.

The proposal, currently under discussion on Threshold’s forum page, comes in response to rising concerns within the crypto community regarding WBTC’s stability following BitGo’s partnership with Hong Kong-based BiT Global, a company partly owned by Justin Sun, founder of the Tron ecosystem.

Unease with Justin Sun’s involvement with WBTC

The partnership has raised alarms due to Sun’s controversial track record, with past incidents of misappropriating collateral. This unease has already led major DeFi protocols like MakerDAO to limit their exposure to WBTC, halt its use as collateral, and consider fully offboarding the asset.

Aave, another significant player in the DeFi space, is also closely monitoring the situation.

The Threshold, WBTC merger proposal

The merger proposal seeks to replace WBTC’s centralized custody and merchant-based mint and burn model with its decentralized and permissionless mint/redeem mechanism. This transition aims to ensure the safety and stability of the underlying collateral, reassuring users and protocols reliant on WBTC.

The plan involves granting Threshold’s DAO merchant privileges for WBTC while disabling tBTC minting, allowing existing tBTC holders to redeem WBTC at a 1:1 ratio.

As part of the proposal, BitGo would receive a grant of T tokens, making it the largest stakeholder in the Threshold Network.

The merger would be implemented in stages to ensure a seamless transition, with a fallback plan to offboard WBTC safely if the proposal is declined.

By combining WBTC’s established user base and liquidity with tBTC’s decentralized technology, Threshold aims to preserve WBTC’s role in the DeFi ecosystem, ensuring that the concerns over BiT Global’s involvement do not destabilize the broader market.


Share this article

Categories

Tags

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Pi Network (PI) Sees Increased Demand Following V23 Testnet Protocol Upgrades

September 16, 2025

Real Value is in Infrastructure, says Zilliqa’s CEO on Refocusing to Build the Base Layer and Empower Innovation

September 15, 2025

Bitcoin price braces for liftoff: Can a Fed’s rate cut spark a $200K rally?

September 15, 2025
Leave A Reply Cancel Reply

What's New Here!

United States and the U.K. To Announce Closer Crypto Cooperation With Focus on Stablecoins: Report 

September 16, 2025

Cardano vs Layer Brett: ADA Price Expected To Jump 20% This Year, but LBRETT Could See 5,000% Growth

September 16, 2025

XRP Price Will End 2025 Below $2 Claims Prediction BOT As Remittix Launches 15% USDT Rewards & Certik KYC Approved

September 16, 2025

Bitcoin News; Ethereum ETF Updates, XRP Price Predictions & The Top Crypto To Buy This September

September 16, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.