Nomic brings nBTC to Berachain, enables direct BTC conversions on Artio testnet

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Tier 1 blockchain Nomic is bringing its native nBTC to Berachain, allowing users to convert their Bitcoin (BTC) to nBTC directly on Berachain’s Artio testnet, according to a recent announcement shared by the Nomic DAO Foundation.

The new development follows a major Ethereum upgrade and a successful $100 million Series B funding round earlier this year, the team noted.

With Bitcoin accounting for more than half of the global crypto market capitalization, the integration is poised to inject substantial liquidity into Berachain’s DeFi ecosystem, which is based on a unique proof-of-liquidity consensus model.

Security and liquidity interests are aligned on Berachain, as validation rewards are tied to the liquidity it provides.

The team said the strategic move not only improves Bitcoin’s utility in the Berachain ecosystem, but also empowers developers to seamlessly incorporate nBTC into various DeFi protocols. Nomic’s Interchain Depositories simplify the process by allowing developers to create BTC deposit addresses that automatically transfer nBTC to Berachain addresses, simplifying the user experience.

In addition, the implementation of nBTC is expected to pave the way for the creation of additional BTC-backed assets in the Berachain ecosystem without the need for centralized intermediaries. This positions nBTC as a foundational asset for future DeFi developments on Berachain and other emerging blockchain platforms.

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