At TON Foundation released The white paper of the TON Teleport BTC inter-network bridge project, where the connecting element will be a tokenized Bitcoin under the ticker tgBTC.
As stated by the TON Foundation, TON Teleport BTC will provide the ability to transfer the first cryptocurrency to the platform and withdraw them back. According to the developers, with the help of the inter-network bridge, users will be able to interact with exchanges, credit platforms and decentralized applications on the network.
The launch of the cross-chain bridge will open up such advantages for users as decentralized management, security of transactions and a high degree of transparency, the developers noted.
The project's White Paper emphasizes that all owners of tokenized Bitcoin will be able to generate profits by using the asset in the decentralized finance sector ( DeFi ).
In addition, they are guaranteed high liquidity by linking to Bitcoin. TON Teleport BTC improves on existing yield generation methodologies and paves the way for a future where liquidity and the utility of Bitcoin is increased by decentralized systems based on TON.
In addition, tgBTC can be used to obtain loans in stablecoins, to support liquidity pools and other operations in the TON ecosystem.
