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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Bitcoin Layer2 Stacks has reached a strategic cooperation with Wormhole, aiming to achieve multi-chain deployment of sBTC.
CoinVoice has learned that Bitcoin Layer2 Stacks and the interoperability platform Wormhole have announced a strategic partnership aimed at achieving multi-chain deployment of sBTC through Wormhole's native token transfer standard (NTT), releasing Bitcoin's native liquidity and promoting cross-chain development of Decentralized Finance.
sBTC is a decentralized asset launched by Stacks that is 1:1 pegged to Bitcoin, allowing users to transfer BTC between the Bitcoin network and other blockchains in a trustless manner while maintaining. Less than six months after its launch, the total value locked (TVL) of sBTC has surpassed 500 million dollars, exceeding the Lightning Network and Liquid, becoming one of the largest native Bitcoin Layer 2 solutions.
This collaboration will enable sBTC to achieve native liquidity circulation on mainstream blockchains such as Solana and Sui through Wormhole's cross-chain infrastructure, without relying on traditional wrapped assets. Core members of the Stacks ecosystem, Asymmetric Research, and DeFi protocols Granite and Zest will also participate in the integration, jointly enhancing the application potential of Bitcoin in cross-chain finance.