The Nomic DAO Foundation Announces the Launch of Bitcoin 1:1 Support Token nBTC on Berachain
2024-09-26 00:58:34
The Nomic DAO Foundation, the development team behind the Nomic Network, has announced the launch of the Bitcoin 1:1 support token nBTC on Berachain, the Ethereum-compatible L1 network. This follows Nomic's Ethereum upgrade, which makes nBTC natively available on Ethereum as an ERC token and enables deployment onto the EVM-compatible chain. "This integration allows users to directly deposit BTC for nBTC, bringing the massive liquidity of Bitcoin into Berachain's ecosystem, which operates with a unique proof-of-liquidity consensus model," the team said. "This will enhance Bitcoin's ability in Berachain's growing ecosystem, providing developers with the ability to integrate nBTC into the DeFi protocol and build BTC-backed applications without relying on a centralized intermediary."
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