TON Developers Unveil Bridge for Bitcoin Integration
Date: 2024-11-29 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
The developers describe TON Teleport BTC as a means of integrating bitcoin into Telegram in the form of tgBTC tokens. "This system allows you to store and use bitcoin directly inside Web3 mini-applications that become part of everyday life," TON representatives noted.
The bridge provides decentralized exchange without the participation of intermediaries such as exchanges or custodial services.
The developers see a wide range of applications for tgBTC in the field of decentralized finance (DeFi). Among the possible scenarios:
1. use as collateral for issuing stablecoins and managing credit protocols;
2. supporting liquidity in DeFi platforms and working with collateralized debt positions similar to the DAI system from MakerDAO;
3. payment for mining services, for example, through services like GoMining.
Future plans
At the moment, TON Teleport BTC is running on a test network, and the launch on the main network is planned for the second quarter of 2025. The bridge architecture allows for the possibility of integration with other blockchains in the future, expanding the functionality of the system.
In addition, in November, the TON Foundation announced Society DAO - a decentralized autonomous organization to manage the TON ecosystem.
