Initiated by multichain
With faster transaction times, the ability to access smart contracts and Dapps, or the convenience of using a particular blockchain ecosystem, cryptocurrency users own wrapped tokens for various reasons. multiBTC is another such wrapped token that brings the best of the two most used blockchain ecosystems together. The main aspect that sets multiBTC apart from others, is that multiBTC can still be redeemed even in the worst case of the cross-chain bridge suspension, meaning we will still offer support until nothing is left.

The Bitcoin network is a primitive blockchain that records account balances and lacks smart contracts functionality, which means it doesn’t support defi applications directly. Therefore, we cannot bring defi to Bitcoin; however, we can bring Bitcoin to defi by representing BTC as an ERC-20 token.

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