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Exploring the biggest questions of our time with the help of the world's greatest thinkers. Host Manoush Zomorodi inspires us to learn more about the world, our communities, and most importantly, ourselves.
tBTC: What Happens When the Most Liquid Crypto Asset Hits DeFi? - Ep.169
Manage episode 260045492 series 1822984
By Laura Shin. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Matt Luongo, CEO of Thesis, the parent company of Fold and Keep, describes the just-launched tBTC, his plan for a censorship-resistant Bitcoin-Ethereum bridge. He explains his personal reasons for wanting such a platform, why tBTC is different from other versions of Bitcoin on Ethereum, and how it works -- including the process of becoming a signer in minting tBTC, how the system will handle crises, the reason for high collateralization levels, why staking assets are limited, and the necessity of a work token, Keep. He also discusses the economics behind tBTC-backed tBTC, his vision for DeFi, how tBTC could buffer an ETH crash, and the reasoning behind minimal governance mechanisms -- playing into why institutions trust BTC more than ETH. Plus, he contrasts the Bitcoin and Ethereum communities and talks about the possibility of tBTC2.0.
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Crypto.com: https://crypto.com/
Kraken: https://www.kraken.com
Episode links:
Matt Luongo: https://twitter.com/mhluongo
Thesis: https://thesis.co/
Keep: https://keep.network/
Fold App: https://foldapp.com/
tBTC white paper: https://docs.keep.network/tbtc/index.pdf
Initial reveal: https://twitter.com/mhluongo/status/1162481737525583873?s=20
Announcement on Keep blog: https://blog.keep.network/bridging-bitcoin-and-ethereum-b2f9923630a7?gi=5c9040ed3a72
Some criticism of tBTC: https://twitter.com/peterktodd/status/1162728205607985152?s=20
Matt on the Breakdown podcast: https://www.coindesk.com/will-defi-matter-in-a-post-coronavirus-world-feat-matt-luongo
Matt on Sendwyre podcast: https://blog.sendwyre.com/announcing-tbtc-with-james-prestwich-and-matt-luongo-of-cross-chain-group-c424e2b0b40c?gi=d1e8b53ca80e
How tBTC works: https://defipulse.com/blog/what-is-tbtc/
The Block on tBTC: https://www.theblockcrypto.com/daily/55284/inside-tbtc-the-bitcoin-backed-erc-20-token-that-could-go-live-in-march
Keep raises $7.7 million: https://www.forbes.com/sites/justinoconnell/2020/04/03/coinbase-co-founder-invests-in-project-to-bridge-bitcoin-and-ethereum/#368a6f737df4
186 episodes
