According to official news, Bifrost plans to launch a native Bitcoin staking service BTCFi. BTCFi runs on a decentralized protocol without the need for intermediaries or third-party custodians.
At the heart of the protocol is BtcUSD, an over-collateralized stablecoin backed by BTC. In order to support the integration of native BTC into BTCFi, the team will use fraud proofs to verify the operation of the relay, which is the method used by many Optimistic Rollup L2 on Ethereum. The team is porting the native BTC bridge from Ethereum to the Bifrost network. The main contents of the BTCFi roadmap are as follows:
-Build the BTCFi ecosystem in the first quarter, integrate all DeFi components for the circular ecosystem, and support WBTC (ETH, Polygon, Arbitrum) and BTCB (BNB);
- Launched automatic one-click BTC staking service in the second quarter;
-In the third quarter, native BTC will be supported, and native BTC deposit services verified by all Bifrost node validators will be launched.