Tonstakers (Telegram)
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 USDT. Due to the same limitations, jUSDT’s market cap never exceeded $10 million....
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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.
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 USDT. Due to the same limitations, jUSDT’s market cap never exceeded $10 million....
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