Partnership with Threshold Network

We are excited to announce the partnership with Threshold through which Threshold has integrated a custom price oracle for tBTC to power its Bitcoin DeFi platform.

Partnership with Threshold Network

What is the Threshold Network?

Threshold Network is renowned for its innovative approach to blockchain solutions. They have been instrumental in creating a bridge between Bitcoin and Ethereum, culminating in their tBTC token – a tokenized representation of Bitcoin on the Ethereum blockchain. This integration enables Bitcoin holders to participate actively in the Ethereum-based DeFi ecosystem.

Threshold built tBTC on a foundation of open-source and permissionless principals. We’re delighted to have a tBTC feed available with DIA’s oracle, since their verifiable oracle system was built with the same principles in mind. We look forward to the further adoption of decentralized tokenized BTC across the DeFi ecosystem, thanks to the support of DIA.
Headshot of Sap, contributor to the Threshold Network
contributor at Threshold Network

Details of the Partnership

In this collaboration, DIA has developed and deployed a custom price oracle for the tBTC token. This oracle is uniquely tailored to the needs of Threshold Network and is live on the Arbitrum Network.

The price feed for this oracle is meticulously crafted, pulling real-time market data from prominent exchanges including Uniswap, Curve Finance, and Balancer V2. The data is then computed with a MAIR methodology.

This ensures the tBTC token is accurately valued and provides a resilient data feed to securely power dApps. The data sources and more information can be found here:

Diagram of the Threshold Partnership with DIA oracles
Diagram of the Threshold Partnership with DIA oracles

Benefits and Features

This integration significantly enhances the DeFi capabilities of the tBTC token, allowing users to seamlessly utilize their Bitcoin in a more efficient and scalable DeFi environment across a range of DeFi applications such as lending and borrowing, perpetual DEXs, options and futures, and more.

The deployment of this oracle on the Arbitrum Network is a strategic move that allows Bitcoin users to leverage the network’s benefits, including faster transaction speeds and lower fees compared to the mainnet.

Winners of an Oracle Gasdrop

Threshold Network participated in the Oracle Gasdrop program to become a recipient of the grant. The proposal unanimously passed and the grant has been deposited to the Arbitrum Threshold Treasury Guild Multisig. The transaction can be found here.

The DIA Arbitrum Gasdrop is a grant program designed to facilitate the evolution of new DeFi use cases within the Arbitrum ecosystem! Learn more about the program here:

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