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tBTC is designed to be a safe and permissionless bridge between BTC and ETH. An open-source project of Keep, Summa and the Cross-Chain Group, tBTC lets people exchange BTC for TBTC, an ERC-20 token that can be used on DeFi platforms, at a rate of 1:1. tBTC launched in September 2020. Each TBTC token is fully backed and matched by at least 1 BTC held in reserve. tBTC is trustless, using a random beacon to select “signers” who have responsibility for the deposited BTC. People can convert TBTC to BTC, and vice-versa, with no intermediary needed to sign off. The project uses threshold ECDSA, which is audited and in use on wallets and exchanges. There are protections of funds via Nexus Mutual covering issues in Solidity on Ethereum. tBTC has undergone three audits, by ConsenSys, Trail of Bits, and Sergei Delgado.
Navigate to dapp.tbtc.network to begin minting and redeeming TBTC.