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Protocol Village: TON Foundation Says Trustless Bitcoin Bridge for DeFi Launched
- News In 4 Seconds
Bradley Keoun
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- 4 minutes read
July 17: TON Teleport BTC, a trustless bridge facilitating secure bitcoin (BTC) transfers to and from The Open Network (TON) blockchain, has launched. According to a message from the TON Foundation team: “This development enables BTC holders to securely engage in DeFi on TON and participate in decentralized exchanges (DEXs), lending platforms, and other applications. The TON Teleport BTC process is entirely trustless and transparent, operating without a centralized issuer. Each BTC on TON is 100% backed by actual BTC, pegged through the teleport process, ensuring secure and reliable transactions.” (TON)
July 17: IoTeX, an Ethereum compatible blockchain platform optimized for decentralized physical infrastructure projects (DePIN), is launching its 2.0 platform to democratize access to DePIN by partnering with NEAR, Filecoin, RISC Zero, Espresso and more, “to enhance data availability, storage, computation and sequencing,” according to the team: “IoTeX 2.0 features DePIN Infrastructure Modules (DIMs) and Modularity Security Pool (MSP) to cut development costs and support sustainable growth for DePIN projects, positioning itself as the largest decentralized hub for devices and data that will be deployed by both humans and AI agents.” According to a press release: “The introduction of Modularity Security Pool (MSP) enables DePIN layer-1s to restake their Proof-of-Stake security to DIMs, fueling growth and fostering sustainability within the ecosystem.”
Schematic illustrating how IoTeX’s Modular Security Pool works in conjunction with its DePin Infrastructure Modules (DIMs), designed to reduce development time and initial costs for DePIN applications (IoTeX)
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