Over 50 BTC in Cross-Chain Volume
Published On: 7/29/2022
Over 50 BTC in cross-chain volume
Hello everyone! We wanted to say thank you to each one of you who has interacted with zeroBRIDGE. We have officially crossed the 50 bitcoin threshold and are ecstatic to be celebrating with those of you that have joined us on the zeroDAO innovation train!
zeroBRIDGE has seen significant usage since launch and our total volume has reached 53 BTC at the time of writing. The zerop2p stack has remained stable throughout operation, with keepers executing a total of 262 transactions, relayed via p2p message.
Developments within the protocol are still moving quickly and there are a number of releases to watch out for in the coming future!
The Road Ahead
ZeroBTC.sol
The new ZeroBTC vault is in the testing phase and will be passed to audit once stable. This new vault will enable the long-awaited zeroDAO lending subsystem. With this, we can speed up bridging to only require 1 or 2 confirmations on a BTC transfer to complete a bridge. The mechanism works by lending assets out ahead of time, with loans collateralized by ZeroBTC vault shares held by the keeper vetting the deposit. The loan is repaid by the responsible keeper by relaying the final signature once fully confirmed on RenVM.
The ZeroBTC vault was authored by @d1ll0n, the prolific Solidity architect known most recently for his work on the Seaport project.
SDK Refactor
Alongside the Solidity engineering effort, the zeroDAO TypeScript SDK is being refactored into a monorepo. This monorepo takes design inspiration from the organization of the ethers.js project. The @zerodao namespace on NPM will be populated with each component of the codebase, so integrators can choose to be selective about their usage of the protocol.
Ledger Live Integration
A BTC bridge powered by zerop2p will be native to Ledger Live following this upcoming release. This bridge will be engineered using the new zeroDAO SDK components. Ledger users will have the utility available to them and simple access to bridge BTC to an EVM asset, or vice-versa, with one click of the device.
zeroDAO will be collaborating with the Ledger team as the subproject develops. We aim to provide simplified and permissionless access to DeFi for the Ledger community.
Wen $ZERO?
The release of $ZERO has been pushed back due to market sentiment and is slated to arrive early 2023, but no formal announcement is being made. Plans for a fair token distribution are in the works. Token holders will hold the ability to participate in the cross-chain narrative as it develops and shapes the future of free finance.
Stay tuned and thank you again!
- Grey
Contact Us
If you have any questions, comments, or feedback, let us know by joining us on our Discord or find us on Matrix!
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