How tgBTC Can Expand Opportunities on TON 🪙
At The Gateway, representatives of TON Foundation and RSquad Blockchain Lab announced TON Teleport BTC decentralized bridge and tgBTC token, an original wrapped BTC on TON.
Why is tgBTC better than the existing jWBTC?
🪙 jWBTС is a wrapped WBTC from Ethereum. It comes with drawbacks: transferring BTC is complex, and its only potential liquidity source on TON is WBTC holders on Ethereum. As a result, jWBTC has low capitalization of $360,000 and just $100 in daily trading volume.
📈 Similar issues were observed with jUSDT, the wrapped USDT from Ethereum, which served as a temporary stablecoin before the launch of the native USDT. Due to the same limitations, jUSDT’s market cap never exceeded $10 million.
How will tgBTC impact TON?
💡 After the launch of tgBTC, holders will be able to transfer BTC to TON to use it in DeFi protocols. For example, users will be able to borrow TON against tgBTC as collateral, stake it on Tonstakers, and earn staking rewards — all while keeping Bitcoin in their wallets.
tgBTC has strong potential to capture a share of the market by bringing part of the $1.8 trillion BTC ecosystem to TON. However, its success in attracting liquidity will depend on the ecosystem support.
🤩 Our links:
Community | MiniApp | Guide | X (ex-Twitter)
At The Gateway, representatives of TON Foundation and RSquad Blockchain Lab announced TON Teleport BTC decentralized bridge and tgBTC token, an original wrapped BTC on TON.
Why is tgBTC better than the existing jWBTC?
🪙 jWBTС is a wrapped WBTC from Ethereum. It comes with drawbacks: transferring BTC is complex, and its only potential liquidity source on TON is WBTC holders on Ethereum. As a result, jWBTC has low capitalization of $360,000 and just $100 in daily trading volume.
For comparison, original WBTC on Ethereum — with all BTC holders as its potential liquidity source — has a market cap of $13 billion and an average daily trading volume of $400 million.
📈 Similar issues were observed with jUSDT, the wrapped USDT from Ethereum, which served as a temporary stablecoin before the launch of the native USDT. Due to the same limitations, jUSDT’s market cap never exceeded $10 million.
By contrast, the native USDT on TON, thanks to its integration with over 100 centralized platforms, expanded its liquidity potential to all USDT holders on centralized exchanges, regardless of the network. In six months, the native USDT on TON reached a market cap of $1.2 billion, placing TON fourth in USDT issuance among all blockchains.
How will tgBTC impact TON?
💡 After the launch of tgBTC, holders will be able to transfer BTC to TON to use it in DeFi protocols. For example, users will be able to borrow TON against tgBTC as collateral, stake it on Tonstakers, and earn staking rewards — all while keeping Bitcoin in their wallets.
tgBTC has strong potential to capture a share of the market by bringing part of the $1.8 trillion BTC ecosystem to TON. However, its success in attracting liquidity will depend on the ecosystem support.
🤩 Our links:
Community | MiniApp | Guide | X (ex-Twitter)