Hey, I was wondering the Treshold team was already exploring a way of introducing “native”-level minting of tBTC on other chains?
On rollups the trust assumptions are fine as we can use the L2 contract on ethereum to have strong guarantees, but for the growth of Treshold, we need to reach other chains as well.
For example do current proposal to grow tBTC on Solana is incredibly smart, yet it has an overhanging risk of whichever bridge provider is used for bridging over the assets.
Instead of risking it all on some external provider (literally, the whole project could die from the bad pr and undercollateralization!) what are the current plans f.ex. minting tBTC on chains like Solana or Sui?
Hey maclane, thanks for the link! This is very interesting indeed!
However, my point was more focused on avoiding the need for trusting another project. In the link above its mentioned that the underlying tech that is used is that of one single validator set, namely Wormhole.
Thus, it still has the danger I mentioned earlier - Threshold is putting its reputation and future on the shoulders of another project entirely. You dont want to end up like multichain, nomad, fantom, or harmony.
Control your own destiny. Build native contracts on each chain, and have the connect directly to the MPC network that controls the BTC locking. No additional risk, same security assumptions.
Hi
I agree with @JoakimEQ point of view in terms of doing it without relying on third parties.
A native similar to what CCTP is for USDC would be a good example to illustrate it.