Trustless DeFi for Bitcoin on Polkadot
summary
PolkaBTC is a trustless Bitcoin gateway that mints an ERC‑style Bitcoin asset on Polkadot by locking BTC with decentralized vaults that post collateral on Polkadot; an SPV chain relay verifies BTC deposits and users either get BTC back or are reimbursed in DOT at a favorable rate if a vault fails. Alpha demo mints and redeems on testnet, a 200‑page spec and conference paper underlie the design, anyone can run vaults/relayers after they reserve vault collateral, and XClaim 2.0 claims a 90% collateral reduction for capital efficiency; beta Jan, launch targeted March.
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chapters (10)
- 0:00Start
- 0:35PolkaBTC: Trustless Bitcoin Gateway for Polkadot
- 0:57Interlay: From Academia to Industry
- 1:33BTC-Parachain: Polkadot's Bitcoin Gateway
- 1:49PolkaBTC: A Bitcoin-Backed Asset
- 2:32Trustless and Decentralized
- 3:23Roadmap
- 4:04Alpha Testnet is Live!
- 6:45What's Next?
- 7:52Questions?
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