The launch targets streamlining Bitcoin use in decentralized finance on Berachain.
Key Takeaways
- Nomic's nBTC enables direct BTC conversions on Berachain's bArtio testnet.
- Berachain uses a proof-of-liquidity model to align security with validators' liquidity.
Layer 1 blockchain Nomic is bringing its native nBTC to Berachain, allowing users to convert their Bitcoin (BTC) into nBTC directly on Berachain’s bArtio testnet, according to a recent announcement shared by the Nomic DAO Foundation.
With Bitcoin accounting for more than half of the global crypto market cap, the integration is poised to inject substantial liquidity into Berachain’s DeFi ecosystem, which is based on a unique proof-of-liquidity consensus model.
Security and liquidity interests are aligned on Berachain as validation rewards are tied to the liquidity they provide.
The team said that the strategic move not only enhances Bitcoin’s utility within the Berachain ecosystem but also empowers developers to seamlessly incorporate nBTC into various DeFi protocols. Nomic’s Interchain Deposits simplify the process, allowing developers to create BTC deposit addresses that automatically transfer nBTC to Berachain addresses, streamlining the user experience.
Furthermore, the deployment of nBTC is also expected to pave the way for the creation of additional BTC-backed assets within Berachain’s ecosystem without the need for centralized intermediaries. This positions nBTC as a cornerstone asset for future DeFi developments on Berachain and other emerging blockchain platforms.