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Bitcoin is coming to the Ethereum blockchain

2020.06.11 币圈资讯, 币圈资讯

MakerDAO works together with Oasis Borrow, a decentralized financial platform that handles the custody of Bitcoin. All investors who want to use wBTC to generate DAI must log in to CoinList and register an account, and go through the KYC process. Afterwards a feature of Coinlist can be used to convert BTC to wBTC.

MakerDAO is a protocol behind the Stablecoin DAI, which is bound to the dollar in a 1:1 ratio. DAI is based on the blockchain and therefore carries some volatility risks. On the platform, Ether can be deposited in smart contracts, creating a Collateralised Debt Position (CDP).WBTC will help bring greater liquidity to the Ethereum and decentralized finance (DeFi) ecosystems, and to decentralized exchanges (DEXs). The fourth collateral type approved by MakerDAO Governance, WBTC can now be used in addition to ETH, BAT, and USDC to open Maker Vaults in order to generate Dai.

In simple terms, this means that Bitcoin owners can convert their BTC to wBTC and then use it to generate DAI. The Maker protocol is flexible that almost any type of asset that can be converted into tokens can be brought into the system as collateral.

作者 : Collin Brown

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