A Game-Changing Bitcoin Bridge for Trustless DeFi Operations
DLC.Link is excited to unveil dlcBTC, an innovative solution to securely enable Bitcoin within DeFi on Ethereum and other chains. Slated for release in March 2024, dlcBTC enables Bitcoin holders to seamlessly engage in popular DeFi protocols such as Curve and AAVE without requiring custodians or intermediaries.
Innovative On-Chain Integration Using Discreet Log Contracts
DLC.Link leverages Discreet Log Contracts (DLCs), an MIT invention that became possible with Taproot’s introduction of Schnorr signatures. DLCs were originally proposed by Tadge Dryja, the co-creator of the Lightning Network, as a way to enable smart contracts to conditionally move Bitcoin.
DLC.Link’s platform enables the user to lock BTC into a DLC to mint dlcBTC. The DLC itself is a 2-of-2 multisig UTXO in which users retain one key. This innovative design safeguards Bitcoin deposits with the full hashrate of the Bitcoin network.
Furthermore, in the DLC, payout addresses are predetermined and locked in during the deposit phase. This means that in the event of a breach, hackers are unable to redirect or steal the deposits. This innovation makes dlcBTC a “theft-proof” Bitcoin bridge.
Attestor Model Ensures Bitcoin Stays Yours, No Custody Required
With a traditional bridge, deposits are locked into a validator network, and are kept in pools in various wallets. In stark contrast, DLC.Link‘s Attestor system enforces the DLC locking mechanism without ever taking possession of user keys or assets.
DlcBTC is set to revolutionize the way Bitcoin is utilized in the world of DeFi. This platform is not just another bridge; it offers a secure, impenetrable structure that respects the sanctity of user sovereignty and eliminates the common vulnerabilities associated with custodian-based bridges.
Ready to Engage with dlcBTC?
Stay tuned for the latest developments on dlcBTC. Register for our upcoming testnet to gain early access and experience the future of Bitcoin in DeFi firsthand. Follow us on Twitter for updates on our launch! https://twitter.com/dlc_link
Join us as we enable a Trillion dollars of Bitcoin capital to be used in smart contracts.