Threshold Network

Bitcoin markets have stabilized, shifting participants' focus from short-term price action to disciplined, capital-efficient structures and advanced risk management. As adoption matures, demand rises for BTC-denominated frameworks that let holders maintain exposure while engaging with onchain financial infrastructure.

Noon is extending its vault framework to Bitcoin, launching the tBTC Vault on Starknet via Vesu. This vault lets Bitcoin holders keep BTC exposure while using onchain financial tools with clear risk controls.

This launch brings together three complementary systems in a first-of-its-kind integration:

tBTC’s trust-minimized Bitcoin bridge for native BTC

Noon’s multi-venue strategy framework that delivers diversified exposure

Vesu’s institutional-grade lending infrastructure on Starknet.

Demand for structured, reliable BTC frameworks is growing among institutions and sophisticated participants, with interest rising in tBTC-based strategies as DeFi infrastructure matures. (Source: Forbes https://www.forbes.com/sites/digital-assets/2025/12/01/bitcoins-november-selloff-was-a-stress-testand-defi-quietly-passed/)

Using tBTC as Collateral

Noon’s tBTC vault lets users access stablecoin strategies while keeping BTC as the core asset. Borrowing starts at a conservative 50% loan-to-value, and automated controls reduce risk if thresholds are reached, protecting users during volatility.

Noon tBTC Yield Vault A Track Record of Outperformance

Over the past several months, Noon has delivered stronger performance than competitors such as Ethena, Resolv, and other-structured yield protocols. This has not been accidental.

Noon’s advantage comes from widening its search for yield beyond a single sector. The team actively evaluates opportunities across DeFi, CeFi, and TradFi, selecting strategies that balance attractive returns with disciplined risk management. Many of these opportunities are typically available only to large-scale investors due to high minimum allocations, but Noon structures them so they are accessible to its users. These strategies ultimately determine the performance of sUSN.

The tBTC-Denominated Vault

The new tBTC vault on Starknet follows the same principles but is tailored to Bitcoin holders' needs. After borrowing stablecoins against tBTC, Noon deploys those stablecoins into lending markets to execute leveraged looping strategies. This involves lending stablecoins, borrowing against them, and repeatedly redepositing. The objective is to amplify yield from interest-bearing positions while keeping leverage and risk levels under control.

The target APY for this vault is approximately 10%, reflecting a balanced approach to performance and stability.

Noon tBTC Yield Vault Performance | Threshold Network Positioning for the Next Phase of Bitcoin Finance

Integrating tBTC into Noon’s vault framework reflects a broader evolution in how Bitcoin is used onchain. The structure enables BTC holders to maintain Bitcoin exposure while engaging with BTC-denominated strategies implemented under defined risk parameters and transparent infrastructure.

By combining tBTC’s trust-minimized design with Noon’s strategy framework and Vesu’s lending architecture on Starknet, the vault provides a clear, disciplined model for structured Bitcoin participation in onchain markets.

The Noon tBTC Vault is now available on the new Threshold Network App:

Explore the Vault >

Disclosure: Participation in Noon vaults carries market, smart contract, and counterparty risks, as well as the potential loss of capital. Target outcomes and projected metrics are not guaranteed; actual results may vary with market conditions. This material is for informational purposes only and does not constitute investment advice, an offer, or a solicitation.

2025 was a defining year for Threshold Network and its core product, tBTC. Across networks, integrations, and infrastructure, the protocol continued to strengthen its role as a multi-chain Bitcoin asset, with steady adoption and evident progress across key metrics.

By year’s end, cumulative transaction volume reached 26,355 BTC, reflecting sustained usage as Bitcoin liquidity moved onchain across an expanding set of environments.

0:00 / 1:46 1×

tBTC 2025 Wrapped Video by Threshold Network

Supply Growth and Network Milestones

On October 8, 2025, tBTC reached several important milestones. Total value locked peaked at 6,500 BTC, while total supply reached its highest level in USD terms at $806,124,000. These figures marked a high point for tBTC’s presence across supported networks.

Just days later, on October 12, tBTC recorded its highest holder count of the year, reaching 18,136 holders—highlighting broad participation across chains.

Product Evolution and Strategic Repositioning

A significant milestone for tBTC in 2025 came on November 11, with the launch of both a redesigned tBTC application and a refreshed Threshold Network website. Together, these releases marked a clear step forward in product experience and long-term positioning.

Gasless tBTC Minting and Direct Redemptions

Threshold released an updated tBTC app that enables users to mint tBTC gaslessly and redeem directly back to native BTC. The new interface simplifies the full lifecycle of moving Bitcoin onchain, offering clearer steps, reduced friction for first-time users, and transparent communication around tBTC’s security guarantees and 1:1 backing.

The experience also surfaces real-time data and provides more intuitive guidance on how and where tBTC can be deployed across onchain markets.

Explore the updated app and documentation:https://app.threshold.networksignificant

Strategic Repositioning for Long-Term Scalability

In parallel with the app upgrade, Threshold Network introduced a redesigned website that strengthens its identity as the Bitcoin standard for onchain finance and presents a clearer, more forward-looking vision for tBTC.

The rebrand reflects a strategic repositioning focused on long-term scalability and clarity as Bitcoin adoption continues to expand onchain.

Read the full announcement:https://www.threshold.network/blog/tbtc-simplifying-bitcoin-onchain/

Image from: https://www.threshold.network/blog/tbtc-simplifying-bitcoin-onchain/ Improved Transparency with a New Dune Dashboard

To further support transparency and ecosystem insight, a new Dune Analytics dashboard for tBTC was released. The dashboard offers improved visibility into minting and redemption activity, supply metrics, and protocol-level flows—supporting users, researchers, and integrators who rely on clear data to understand how BTC moves across onchain markets.

Visit the latest Threshold Dune dashboard:https://dune.com/threshold/tbtc-performance-dashboard

New Threshold Dune Dashboard Expanding Infrastructure and Integrations

Infrastructure growth remained a core focus throughout 2025. tBTC expanded its vault ecosystem with the launch of four new vaults:

Upshift

Ember

Yield Basis

Noon

In parallel, tBTC integrated with 20 DeFi protocols, extending Bitcoin liquidity into new onchain financial use cases and strengthening its presence across major platforms.

Strengthening Multi-Chain Reach

tBTC reinforced its multi-chain footprint in 2025 with launches on three new chains:

Sui

Mezo

Starknet

These additions further positioned tBTC as a Bitcoin asset designed for use across multiple networks.

Distribution Across Chains

By total value locked, the top five chains supporting tBTC in 2025 were:

Ethereum – $578M

Arbitrum – $13M

Starknet – $11.8M

Solana – $6M

Base – $5M

By holder count, the leading chains were:

Ethereum – 9,571 holders

Base – 3,474 holders

Optimism – 2,139 holders

Polygon – 2,056 holders

Arbitrum – 1,120 holders

Liquidity Concentration

Liquidity in 2025 remained concentrated across major venues. The largest tBTC pools by supply were:

Aave – $154M

Curve – $99M

SparkLend – $12M

Looking Ahead

The milestones reached in 2025 reflect more than growth in numbers; they signal growing confidence in tBTC as Bitcoin continues to move onchain across multiple networks. Expanded vault infrastructure, broader protocol integrations, and increasing participation across chains all point to a maturing asset built for sustained use.

As tBTC enters the next phase, the focus remains on delivering reliable, scalable, and secure access to Bitcoin across an increasingly multi-chain environment. With infrastructure in place and liquidity established across major venues, tBTC is positioned to support the next wave of onchain Bitcoin activity, where utility, accessibility, and reach continue to expand.

Bitcoin is the most secure and widely held digital asset in the world. However, Bitcoin’s base layer was intentionally designed for settlement and security, not for smart contracts or onchain applications.

As onchain ecosystems have evolved, a key challenge has emerged: how can Bitcoin be used onchain without compromising its security or requiring users to sell their BTC?

Wrapped Bitcoin is the answer, and Threshold Network and tBTC are how it’s done securely.

Why Bitcoin Needs a Path Onchain

Bitcoin does not natively interact with programmable blockchains. This makes it difficult for BTC holders to access onchain financial applications, earn yield, or use Bitcoin as collateral in DeFi.

At the same time, Bitcoin represents the largest pool of value in the crypto space. Bringing Bitcoin onchain allows that value to participate in lending, liquidity, and financial primitives while remaining backed by native BTC.

Wrapped Bitcoin exists to make Bitcoin usable across onchain ecosystems without altering Bitcoin itself.

What Is Wrapped Bitcoin?

Wrapped Bitcoin is a tokenized form of BTC that exists on a smart-contract blockchain. Each wrapped Bitcoin is backed one-to-one by real Bitcoin locked on the Bitcoin network and can always be redeemed for native BTC.

This representation allows Bitcoin to function inside smart contracts. Once wrapped, Bitcoin can be used across onchain applications while maintaining a direct connection to BTC.

How Wrapped Bitcoin Works with Threshold Network

Threshold’s Wrapped Bitcoin, called "tBTC”, eliminates reliance on a single custodian key by replacing it with a rotating, staked network of independent signers that collectively secure BTC using threshold cryptography.

Bitcoin is held in addresses controlled by a distributed set of 100 node operators. Any 51 of these signers can jointly authorize a transaction, while no individual operator or small subset ever possesses the full private key.

At no point does a complete private key exist in one location. Each signer holds only a key share and contributes a partial signature, which is combined with others to produce a single valid transaction signature.

Threshold Cryptography

The signer set is selected based on stake and rotated over time, reducing long-lived key exposure and significantly lowering the risk of capture or collusion.

Unlike traditional Bitcoin multisignature schemes, which require multiple keys to be revealed onchain, threshold signatures enable a group to collectively generate a single standard signature without disclosing which participants signed, eliminating single points of failure while remaining compatible across chains.

What is tBTC?

tBTC is Threshold Network’s Bitcoin-backed asset designed for onchain use.

Each tBTC is fully backed by native Bitcoin and secured by Threshold Network’s cryptographic infrastructure, as mentioned above. Minting and redemption are permissionless, allowing Bitcoin holders to move between BTC and tBTC without intermediaries.

tBTC is built to integrate seamlessly with onchain ecosystems, making Bitcoin a composable asset across smart-contract platforms.

Why you should wrap your Bitcoin Onchain using tBTC?

tBTC enables Bitcoin to be used onchain without compromising security or decentralization. By converting BTC into tBTC, holders can access decentralized finance use cases such as lending, liquidity provision, and yield generation, while maintaining full economic exposure to Bitcoin.

Unlike custodial-wrapped Bitcoin solutions, tBTC is trust-minimized and secured by the Threshold Network’s distributed signer architecture. Bitcoin backing tBTC is controlled by independent signers using threshold cryptography, ensuring that no single party ever holds or controls the full private key.

tBTC has operated continuously for over five years without a security incident, demonstrating a strong track record and long-term reliability. This architecture eliminates single points of failure and preserves Bitcoin’s security model, making tBTC a secure and proven approach for bringing Bitcoin onchain and extending its utility across decentralized finance.

How Threshold Differs from Bitcoin Multisigs How to Bridge tBTC (Wrapped Bitcoin) to Ethereum 

To use Bitcoin on Ethereum, BTC is locked on the Bitcoin network, and tBTC is minted on Ethereum through Threshold Network’s infrastructure.

Once on Ethereum, tBTC can interact with smart contracts, enabling Bitcoin onchain use cases such as lending, liquidity provision, and yield strategies.

BTC (Bitcoin) to tBTC (Ethereum): https://app.threshold.network

tBTC Ethereum to other networks:https://portalbridge.com/?fromChain=Ethereum&toChain=Solana&fromToken=tBTC

How to Bridge  tBTC (Wrapped Bitcoin) to Polygon, Optimism, Solana, Base, & Arbitrum 

Polygon extends Ethereum-compatible execution with faster settlement and lower fees. Bitcoin can reach Polygon by minting tBTC and bridging it into the Polygon ecosystem.

This allows Bitcoin to participate in onchain activity on Polygon while remaining backed by BTC on Bitcoin.

BTC (Bitcoin) to tBTC (Other Networks): https://app.threshold.network

tBTC Polygon to other Networks: https://portalbridge.com/?fromChain=Polygon&fromToken=tBTC

tBTC Optimism to Other Networks:https://portalbridge.com/?fromChain=Optimism&fromToken=tBTC

tBTC Base to Other Networks: https://portalbridge.com/?fromChain=Base&toChain=Solana&toToken=tBTC

tBTC Solana to Other Networks:https://portalbridge.com/?fromChain=Solana&fromToken=tBTC

tBTC Arbitrum to Other Networks:https://portalbridge.com/?fromChain=Arbitrum&fromToken=tBTC

How to Bridge Bitcoin to Starknet with tBTC

Starknet introduces scalable execution using zero-knowledge proofs. Bitcoin can be brought into Starknet by minting tBTC and bridging it into Starknet’s environment.

This enables Bitcoin liquidity to interact with high-performance onchain applications while remaining secured by Threshold Network.

BTC (Bitcoin) to tBTC (Starknet):https://app.threshold.network

tBTC Starknet to Other Networks (and vice versa): https://starkgate.starknet.io/ethereum/bridge?mode=withdraw&token=tbtc

How to Bridge Bitcoin to Sui with tBTC

Sui’s object-based execution model enables new onchain design patterns. Bitcoin can be represented on Sui by minting tBTC and bridging it into the Sui ecosystem. Through tBTC, Bitcoin can participate in emerging onchain architectures while staying fully backed by native BTC.

BTC (Bitcoin) to tBTC (Sui): https://app.threshold.network

tBTC Sui to Ethereum (& vice versa):  https://sui.threshold.network/

How to Mint and Redeem tBTC Bitcoin’s Onchain Future Starts with tBTC

Wrapped Bitcoin is not about changing Bitcoin; it’s about expanding where Bitcoin can be used.Bitcoin was built to be secure, resilient, and independent. Those properties made it the foundation of the digital asset ecosystem, but they also limited how Bitcoin could be used in onchain applications. tBTC extends Bitcoin’s reach without compromising its core values, allowing Bitcoin to remain native, verifiable, and fully backed while becoming usable across modern onchain environments.

With Threshold Network and tBTC, Bitcoin is no longer confined to passive holding. It can power lending markets, provide liquidity, and support onchain financial applications across ecosystems. As onchain finance continues to evolve, the role of Bitcoin is evolving with it. tBTC provides a secure, cryptographic path for Bitcoin to participate in this future, one that aligns with Bitcoin’s security model and extends its utility beyond a single chain.

Bitcoin’s next chapter is onchain. tBTC is how it gets there.

Learn more about tBTC, bridging Bitcoin onchain, and Threshold Network at threshold.network.

Over the past year, Bitcoin has gained meaningful traction among institutional participants. As this interest grew, it became clear that Threshold Network needed to reflect this shift, not by changing all that we stood for, but by communicating our value with greater clarity and purpose. We needed to articulate our position in the current market, strengthen how we present ourselves to institutions, and still ensure our products continue to offer a seamless experience for the users who already rely on us

This became the foundation of our repositioning.

For months, the team worked through focused sprint sessions, user research, and market analysis to understand how Threshold should evolve. The goal was simple: present Threshold as the most trusted wrapped Bitcoin, expressed through a brand that resonates with both long-standing users and the growing institutional audience entering Bitcoin finance.

Threshold Sprint Session Snapshot | threshold.network A Cleaner, More Deliberate Identity

We wanted a brand that reflects the seriousness of the market we serve. The new visual direction is more precise, more disciplined, and easier to understand at a glance. It brings transparency to the forefront and avoids anything distracting or overly technical. The goal is simple: When someone encounters Threshold for the first time, they should immediately understand who we are, what tBTC is, and why our infrastructure matters for Bitcoin.

Before and After Website Look | threshold.network One Mission, Two Distinct Experiences

A key part of this process was defining the relationship between the website and the application. They share one mission, but they speak to different audiences and serve different needs. Here is what we looked at before and after our recent repositioning.

The Website: Built for Scalability

The website was redesigned to serve a broad audience, including institutions that need a clear understanding of how tBTC fits into modern financial markets. We wanted to speak in a way that feels familiar to them, presenting the custody model, cryptography, integrations, and economic impact in straightforward, accessible terms. Rather than relying on technical depth for its own sake, we chose clarity. The site now acts as a destination where funds, corporate teams, and platforms can easily grasp what Threshold offers and why our infrastructure is relied upon to scale Bitcoin safely.

Design Options snapshot | threshold.network

Throughout the process, we explored countless design approaches and refined every piece of language to reflect a more forward-looking narrative. Every element was intentionally chosen to shape how Threshold communicates its role in building the Bitcoin economy.

The App: Built for Core Bitcoin Holders

The application focuses on usability. It gives Bitcoin holders a clean, self-custodial way to mint, manage, and move tBTC across networks. Everything is designed to feel familiar, stable, and trustworthy. You do not need technical expertise to use the app, and there are no shortcuts that compromise security. It is built for the person who wants to put their Bitcoin to work, confidently and without friction.

Before and After Threshold App | threshold.network

A word from Rizza Carla Ramos, Head of Marketing:

“We approached this restructure as a chance to reset how we communicate with the people who rely on Threshold. Bitcoin is becoming a more significant part of institutional strategies, and those institutions expect clarity, stability, and a brand that respects the asset's seriousness. At the same time, individual users need a product that feels approachable and steady, not overwhelming.

The new website speaks directly to the rising demand from funds and platforms evaluating Bitcoin for broader financial use. The app supports the growing number of individuals who want to do more with their BTC without giving up custody or control. These two experiences work together. They reflect the same mission but deliver it in ways that fit the needs of different participants.

This is not just a rebrand; it is a signal of where Threshold is heading. We are building infrastructure that enables Bitcoin to function across markets while preserving its principles. That is how we contribute to the next phase of the Bitcoin economy, and this new positioning is a clear step towards that.”

Building the Bitcoin Economy, the Future of tBTC

The Threshold Network Roadmap | threshold.network

Interest in Bitcoin is expanding into areas that require higher infrastructure standards. Institutions want predictable, secure, and transparent systems. Individuals want access without complexity. Threshold must provide both.

The repositioning aligns our communication, product experience, and visual identity with that expectation. It lays a stronger foundation for how partners integrate tBTC, how users interact with the app, and how we position Threshold in markets that prioritize reliability above all else.

The new identity and product structure are only the beginning. As integrations deepen and onchain demand increases, Threshold will continue refining the experience, strengthening infrastructure, and expanding access to tBTC across markets.

Our commitment remains unchanged. We are here to help Bitcoin move where it needs to go, without compromising what makes it reliable.

Explore the updated Threshold Network website and application today.

Visit Website

Bitcoin ownership keeps growing, but actually using BTC onchain is still harder than it should be. Most BTC sits in wallets or on exchanges without a clear path into the broader onchain economy. It’s valuable, but not very accessible or liquid once it’s sitting still.

That’s the challenge we focus on at Threshold Network: making BTC easier to move, use, and bring into the places where people want to participate onchain, without relying on a single custodian.

To sharpen our view of where the market is heading, we partnered with Alea Research. Alea focuses on market structure, protocol research, and onchain data. Their work helps us understand how Bitcoin supply is moving, how wrappers have evolved, and where users actually want to deploy their BTC.

Important note: Threshold does not provide custody, ETF products or bespoke services for institutions today. What we are building is open, onchain infrastructure that anyone can access, and that can eventually support larger and more professional allocators when they decide to move onchain at scale.

From Alea Research: tBTC Supply Why Wrapping BTC Still Matters

Bitcoin is a strong settlement asset, but it is only lightly programmable on its base layer. That is why many BTC holders move into wrappers. A wrapper is a token on another chain that is backed 1:1 by BTC on Bitcoin. With a wrapper, BTC can:

be used as DeFi collateral

earn yield in lending markets

support liquidity pools and trading

back new forms of onchain credit and structured products

Not all wrappers are built in the same way. The key differences come from two questions:

Who holds the underlying BTC?

What guarantees prove that the wrapper is actually backed?

Some wrappers rely on a single custodian. Others use federated multisig structures or sidechains. Threshold follows a different model: a network of independent signers using threshold cryptography.

From Alea Research: Bitcoin Wrapper Trust Models Where This Research Points Us Next

This recent research analysis of BTC confirms what many onchain participants already feel: Bitcoin is increasingly being held rather than actively traded, and a significant gap remains between long-term ownership and the ability to deploy BTC productively in a transparent and controlled manner.

Threshold addresses this gap through tBTC, a trust-minimized wrapper built on mathematical guarantees, open accessibility, and deep integration across leading DeFi markets. The objective is not to replace Bitcoin’s base layer or introduce a new custodial intermediary, but to provide BTC holders with a secure, neutral mechanism to use their assets in ways that generate meaningful utility.

Today, this primarily supports individuals, on-chain-native funds, and sophisticated users. As larger allocators seek pathways to participate onchain without compromising security or autonomy, we expect the principles underlying tBTC’s design to become even more essential.Read the complete analysis of Threshold Network’s trust-minimized approach to Bitcoin utilization in the latest research report by Alea.

Dive into Alea Research’s Perspective Report here:

Read The Full Report >

Disclaimer: This material is provided for informational purposes only and should not be interpreted as financial, investment, legal, or tax advice. Digital assets, DeFi protocols, and blockchain-based products involve significant risk, including the potential loss of capital. Always conduct your own research (DYOR) and consult with a qualified professional before making any financial decisions.

Threshold has always believed that Bitcoin should move freely across financial markets without losing the principles that make it trusted and pristine. That belief has guided everything we’ve built so far. This time, we’re taking it a step further, expanding access to make Bitcoin participation broader and more inclusive. Our renewed focus is centered on being able to serve institutional participants while continuing to empower individual users through tBTC, the tokenized Bitcoin that connects liquidity across onchain markets with security, transparency, and scale.

And this is how we plan to execute on this promise.

Research-Backed Perspective: How Data Guided Threshold’s Institutional Strategy

Over several months, our team has delved deeply into Bitcoin data, studying not just price trends but also the broader patterns of ownership, liquidity, and behavior that define its place in global finance. From sprint sessions to comprehensive research into how Bitcoin capital moves, we examined the infrastructure gaps that prevent seamless participation across markets.

What we found was clear: as institutional demand grows and onchain activity expands, there is a need for infrastructure that upholds Bitcoin’s integrity while meeting the performance expectations of professional users.

To put things in perspective, the structure of Bitcoin ownership has changed. A high-net-worth circle has formed within Bitcoin, with 157,000 addresses holding over $1 million and 19,142 addresses holding more than $10 million, representing roughly $500 billion in value. This concentration of capital has grown rapidly since the approval of U.S. spot Bitcoin ETFs in 2024.

Bitcoin Wealth Distribution Chart

Although individuals still control around 66% of Bitcoin’s supply, the influx of wealthier holders and institutions has accelerated over the past two years. Institutional holdings reached $414 billion by August 2025, fueled by ETF inflows and corporate treasury diversification. Corporate reserves climbed 40% in Q3 to $117 billion, while 172 public companies now collectively hold over 1 million BTC.

This consolidation signals growing institutional confidence in Bitcoin and a maturing financial structure that prioritizes security, transparency, and infrastructure designed to scale; the same foundation that tBTC builds upon to move Bitcoin seamlessly across decentralized markets.

Bringing Bitcoin’s Integrity to Scale, with tBTC

Considering these new metrics, Threshold Network has analyzed the data and is doubling down on its efforts to reach the expanding Bitcoin market by hyperfocusing on scaling tBTC.

The new Threshold Network website is designed with clarity and purpose, reflecting our broader role in decentralized Bitcoin onchain markets. More than a bridge, it represents the next phase of Bitcoin's utility, providing a secure space for users to engage in DeFi while maintaining full ownership of their Bitcoin.

“ The scale of institutional adoption since ETF approvals has been extraordinary,” said MacLane Wilkison, Co-Founder and CEO of Threshold Labs.

“ Our focus is on building infrastructure that enables institutions, funds, and corporates to interact with Bitcoin onchain securely. As traditional finance integrates Bitcoin into its portfolios, tBTC stands as the bridge that ensures this participation remains decentralized, secure, and transparent.”

Launch Partners

In parallel with this institutional rebrand, Threshold Network has spent the past several months expanding tBTC’s utility across leading DeFi markets, with interoperability powered by Wormhole. This includes partnerships with established protocols such as Aave, Morpho, Curve, and Aerodrome, as well as continued expansion into emerging ecosystems like Sui and Starknet.

These recent integrations have introduced a wider range of opportunities for tBTC holders. Enabling users to stake tBTC on Endur (supported by Troves), access lending markets such as Alphalend, Vesu, Sparklend, and Aave V3, or use tBTC as collateral on platforms including Nerite, Bucket, and Asymmetry Finance. Additional use cases include incentivized liquidity pools on Bluefin, Merkl, and Ekubo, as well as advanced yield strategies on Ember Protocol.

The New Threshold App: Built for Precision and Simplicity

Alongside the website repositioning, we are launching a series of significant upgrades on the tBTC app. The goal was to make the movement between Bitcoin and DeFi markets both seamless and secure. Institutions need efficiency and reliability; individual users want simplicity and trust. The new app delivers both.

What's New on the Threshold Network App

Users can now mint tBTC directly to supported chains, including Ethereum,  Layer 2s, and non-EVM networks, all with a single transaction. In summary, the new features include:

Direct minting to supported chains enables capital to flow efficiently into DeFi markets, allowing institutions to deploy Bitcoin liquidity across multiple ecosystems without relying on centralized intermediaries.

Direct redemption to Bitcoin mainnet gives users confidence that they can always return to native Bitcoin, maintaining trust and liquidity across all use cases.

No Layer 2 signing required means that even complex transactions can be completed with a single Bitcoin transfer, reducing operational overhead for institutional treasuries and simplifying onboarding for individual users.

New Threshold App Features Gasless Minting

The new app also introduces an improved dashboard experience designed for greater efficiency and visibility. Users can now get a bird’s-eye view of all available tBTC opportunities while effortlessly tracking their past onchain activity. These key upgrades include:

Use tBTC: A new section built to help users discover where they can deploy tBTC or put their Bitcoin to work. It provides a comprehensive overview of tBTC integrations across multiple DeFi protocols.

Vaults: a new dashboard that consolidates integrated tBTC vault strategies into a single interface. It allows users to access curated, externally managed vault strategies built for ease of use. 

My Activity: This section offers a unified record of all user actions across minting, redeeming, and vault participation. Every transaction is logged onchain, allowing users to easily track their history and monitor performance over time. 

Gasless Minting on Supported Networks

Gasless minting is now possible on supported networks. Users only need to deposit Bitcoin; no wallet signatures or additional gas fees are required. They simply connect their wallet, send Bitcoin to a single-use address, and receive tBTC on their chosen chain. This feature allows both institutions and individuals to utilize Bitcoin capital efficiently without compromising custody or cost.

“ This is a major protocol upgrade that represents Threshold’s maturity as a network,” said Callan Sarre, Co-Founder and CPO of Threshold Labs.

“ We’ve rebuilt the app to give users a unified experience. Mint, redeem, and deploy Bitcoin faster, with confidence and transparency. The new interface delivers what users have consistently asked for: clarity and control without compromise.”

tBTC is Live Across Major L1s and L2s Building the Next Chapter of Bitcoin

One of the most deliberate decisions in this strategic refocus was how we defined the relationship between the website and the app. Both serve the same mission but tell the story in different ways.

The new website was created to meet the growing interest from institutional participants, a place where funds, corporates, and partners can understand how tBTC fits into modern financial markets. It is designed for transparency, education, and global scale, communicating in the language of capital while staying true to Bitcoin’s decentralized values.

The app delivers enhanced functionality without compromising on trust or simplicity. Tailored for Bitcoin holders, it offers a seamless, self-custodial experience for confidently managing and moving Bitcoin onchain.

“ Our goal with this upgrade and renewed focus was to bridge institutional credibility with the authenticity of our original community,” said Rizza Carla Ramos, Head of Marketing at Threshold Labs. 

“ The website was developed to speak to a more mature audience, while the app keeps the experience familiar for long-term Bitcoin holders. Both are essential: one represents growth, and the other preserves who we are.”

Today, tBTC is live across major ecosystems and networks, including Ethereum, Arbitrum, Base, Polygon, Sui, Starknet, BOB, and Optimism, expanding liquidity and access for both institutional and retail users. Each integration reinforces Threshold’s position as the infrastructure layer for Bitcoin onchain.

Threshold’s next chapter is focused on scaling tBTC through three phases:

Threshold Network Roadmap

This update is more than a design milestone; it marks the beginning of a broader mission. Threshold Network is building the infrastructure to connect institutional finance with decentralized markets, ensuring that Bitcoin remains secure, usable, and accessible for generations to come.

Bitcoin remains the foundation. Threshold builds its future.

Highlights from October

October was a month of meaningful progress for Threshold Network, defined by new adoption records, expanded integrations, and continued growth in decentralized Bitcoin infrastructure. From surpassing a major minting milestone to extending active tBTC vaults across multiple ecosystems, the network strengthened its position as the infrastructure layer enabling secure and permissionless Bitcoin utility.

Milestones

25,000+ tBTC minted onchain, setting a new adoption record and reflecting sustained growth in onchain Bitcoin participation.

$4.6B in cumulative bridge volume, highlighting meaningful integration across DeFi markets and reinforcing tBTC’s position as a leading decentralized Bitcoin asset.

$50M in tBTC deposits on Yield Basis filled in under one hour, underscoring strong market demand for institutional-grade yield opportunities backed by decentralized Bitcoin.

Launched alongside Starknet’s BTCFi campaign, strengthening tBTC’s presence in emerging Bitcoin ecosystems and supporting deeper onchain adoption.

Threshold continues to demonstrate leadership in BTCFi through consistent growth in liquidity, adoption, and capital efficiency. Rapidly filled pools highlight rising demand for decentralized Bitcoin, while sustained TVL across integrated pools reinforces tBTC’s standing as one of the most trusted and widely used Bitcoin assets onchain.

This continued momentum underscores Threshold’s reliability as Bitcoin liquidity infrastructure, supporting integrations across major networks and meeting the needs of users and protocols seeking secure, transparent, and scalable BTCFi solutions.

Ecosystem Growth

October brought several new integrations and activations across leading BTCFi protocols, further extending tBTC’s reach and composability.

tBTC Live on Starknet BTCFi

tBTC Goes Live on Starknet | Threshold Network

Threshold Network’s tBTC is now one of the key Bitcoin assets supported across Endur.fi, Vesu, Ekubo (in collaboration with 0D, Re7 Labs, and Troves).As part of Starknet’s BTCFi Season, backed by 100M STRK in rewards, these integrations are driving Bitcoin inflows into Starknet’s DeFi ecosystem and offering boosted yields for tBTC participants. Read more

tBTC Staking via Endur.fi

tBTC is now eligible for staking on Starknet through Endur.fi, enabling users to participate in leveraged strategies such as xtBTC’s auto-looping vaults.

tBTC on Endur.Fi | Threshold Network

tBTC Integrated into Saga's Liquidity Layer

tBTC is now part of Saga’s Liquidity Integration Layer, providing permissionless Bitcoin access through decentralized deposit and redemption within DeFi.

The next phase of Velocity DeFi is multichain.Saga’s Liquidity Integration Layer connects the best collateral with the best yield across ecosystems.Welcome to Saga: the Multichain DeFi Home.↓https://t.co/Osfhq5yeqt

— Saga ⛋ (@Sagaxyz__) October 14, 2025

Threshold Network supports AcreBTC

Acre V2 is now live, with Threshold Network enabling direct access to sustainable Bitcoin yield from users’ native BTC wallets. Through tBTC, Bitcoin holders can securely and transparently participate in Acre’s upgraded yield strategies without giving up custody or relying on centralized intermediaries.

🚀 Acre V2 is now live!Finally, Bitcoiners can earn sustainable yield directly from their BTC wallets:Meet Acre V2 🚜🌱, delivering BTC rewards (up to 14% APY!) in partnership with DeFi’s best and brightest @Re7Labs @MidasRWALet's dive in 🧵 pic.twitter.com/UwzY0dwZ7f

— Acre.Fi - Compound Bitcoin (@AcreBTC) October 29, 2025

Community and Events

Threshold closed October with strong community engagement, marked by the completion of its first Galxe Starboard Series, which drew nearly 4,000 participants.

Galxe Starboard Series

To ensure fair participation, the campaign was extended from October 18 to 25 to verify entries and remove automated accounts.

FAQs on Galxe Starboard Campaign | Threshold Network

The Top 10 Starboard Leaders contest runs until December 14, 2025. Community participation remains active, and users can continue increasing their Aura Points to secure a position in the top 10. Those who qualify will receive rewards valued at $400 or $500 each. Read the full update

Media Highlights

The Defiant Podcast: Callan Sarre, CPO and Co-Founder of Threshold Labs, discussed Threshold’s sustainable approach to Bitcoin liquidity and the evolving relationship between tBTC and wBTC. Listen here

Photo from The Defiant

Market Commentary:

Decrypt: Callan Sarre shared insights on how the delayed Mt. Gox repayments could influence Bitcoin’s market dynamics and investor sentiment heading into 2026. Read the full feature here

Callan Sarre on Decrypt Media | Threshold Network

CryptoNews: In a market analysis on Bitcoin’s “Uptober” performance, Callan weighed in on structural market factors and institutional demand amid short-term price volatility. Read the full article

Callan Sarre on CryptoNews | Threshold Network Team Updates

In October, two new members joined the team: Antonio M., a Software Engineer with over 12 years of experience and active in crypto since 2021, and Victor, joining the Support team. Victor is a CPA and CFE, active in the crypto space since 2018, a NuCypher WorkLock participant, and an early Threshold contributor.

October 2025 New Team Members | Threshold Network

Their combined experience strengthens Threshold’s engineering and community operations as the network scales its infrastructure and prepares for upcoming product releases.

Looking Ahead

As November begins, Threshold’s focus remains on expanding tBTC liquidity, supporting partner deployments, and advancing the public release of the Threshold App.Continued growth across vaults, integrations, and protocol contributors reflects the network’s commitment to advancing Bitcoin’s role in open, permissionless finance

How Trust-Minimized Architecture Positions tBTC for Institutional Adoption

Executive Summary

When evaluating Bitcoin DeFi products for institutional deployment, two architectural questions are paramount: Who controls the keys? What happens when things go wrong? After processing $3.6 billion in volume with zero security incidents, tBTC demonstrates an architecture that aligns with institutional risk frameworks.

tBTC by the Numbers The Trust Equation: Why Architecture Matters

Tokenized Bitcoin onchain faces a core challenge: preserving Bitcoin’s trustless properties while enabling cross-chain functionality. Most solutions reintroduce intermediaries that Bitcoin was designed to eliminate, such as custodians holding keys, closed validator groups vulnerable to collusion, or federated systems with concentrated control.

For institutions assessing bridge infrastructure, these are not theoretical concerns. They define the difference between counterparty risk that must be reported in quarterly assessments and the mathematical certainty that requires none.

Defining Reliability: Beyond Uptime Metrics

Institutional reliability extends beyond operational uptime. It encompasses three critical dimensions:

Predictable Settlement: Every redemption follows the same process, with consistent timing and without manual intervention. There are no weekend delays, holiday closures, or geographic restrictions.

Failure Prevention Architecture: Systems must be designed to make failures mathematically improbable. This requires eliminating single points of failure across technical, operational, and governance layers.

Verifiable Security: Institutions require proof, not assurances. This means on-chain verification of reserves, public audit trails, and transparent operations that risk committees can independently validate.

tBTC addresses each of these dimensions through distributed architecture. This has supported 86% year-over-year TVL growth to $693 million, positioning it third on Wormhole by 30-day volume. This trajectory contrasts with stagnation across the broader wrapped Bitcoin market and signals institutional recognition of architectural strength.

True Decentralization: The Threshold Cryptography Advantage

Traditional custody relies on a single key. Multi-signature improves on this by introducing multiple keys, but still concentrates control in small groups.

tBTC employs threshold cryptography. The private keys that control Bitcoin never exist in complete form. Instead, they are generated as distributed shares and remain separate even during signing operations. This creates several institutional advantages:

No Custodian Risk: No single entity or small group controls funds.

No Collusion Vectors: With more than 100 globally distributed operators, coordinated attacks are logistically unfeasible compared with federations of 15–20 validators.

No Administrative Overrides: The protocol cannot freeze funds, blacklist addresses, or alter rules, eliminating risks associated with external intervention.

This distributed key generation model represents a clear advancement over both custodial and federated approaches.

Institutional Risk Assessment: Addressing Core Concerns

Risk committees assessing Bitcoin bridges typically focus on four primary concerns. tBTC’s architecture addresses each directly:

Security Vulnerabilities: With 78% of institutional investors now employing formal crypto risk frameworks, security is paramount. tBTC’s five-year operational history without incidents, combined with independent audits and an active bug bounty program, establishes credibility. Compromising the system would require simultaneous majority control across globally distributed operators, an increasingly impractical attack vector.

Compliance and Transparency: Post-FTX, 44% of firms demand complete operational transparency. tBTC provides on-chain verification of Bitcoin reserves and public transaction histories. The permissionless design supports compliance by eliminating opacity, aligning with regulatory emphasis on transparent DeFi infrastructure.

Counterparty Risk: Traditional bridges reintroduce counterparty risk that Bitcoin itself eliminates. tBTC’s threshold model ensures no entity exists that can fail, flee, or freeze assets.

Operational Reliability: Beyond 99.9% uptime, institutions require predictable redemption processes. tBTC guarantees consistent settlement paths without manual approvals or delays, regardless of transaction size.

Market Readiness: From Architecture to Adoption

The transition from experimental to institutional infrastructure is evident in recent integrations. Starknet’s June 2025 deployment unlocked $450 million in potential TVL. Sui’s July integration introduced $500 million in Bitcoin liquidity to its ecosystem. OKX’s August adoption generated $5 million TVL in its first week.

These are operational deployments processing real volume. Curve pools alone handle $2.9 million daily, providing liquidity depth institutions require. This adoption reflects recognition that trust-minimized architecture is the sustainable model for institutional Bitcoin deployment.

Over 25,000 tBTC minted as of October 2025 The Institutional Standard for Bitcoin in DeFi

As Bitcoin bridges evolve into institutional utilities, evaluation criteria have matured. Risk committees assess architecture, not just functionality. Compliance teams evaluate transparency, not just regulatory commitments. Treasury managers demand predictable operations, not just high yields.

tBTC’s trust-minimized architecture eliminates intermediaries through mathematics. This positions it to meet institutional requirements for both security and reliability. Its growing adoption validates Threshold’s design, demonstrating that Bitcoin can preserve its trustless properties while participating in DeFi markets.

For institutions evaluating Bitcoin bridge infrastructure, the question is no longer which bridge works, but which bridge eliminates counterparty risk while maintaining operational excellence. The evidence increasingly points toward trust-minimized solutions such as tBTC.

Further Information

For technical architecture details, see Threshold's Documentation. 

Disclaimer: The information provided is for educational purposes only and does not constitute financial, investment, or legal advice. Investing in cryptocurrency and digital assets involves significant risk. Conduct your own research and consult a licensed financial advisor before making investment decisions.

The Starboard Campaign is an initiative by Threshold Network to engage its community while reinforcing awareness around tBTC and its expanding presence across blockchain ecosystems. This article answers common questions about the campaign, outlining how to participate, who can join, and what rewards are available.

What is the Starboard Campaign?

The Starboard Campaign is a community program hosted on Galxe that rewards participants for sharing verified and meaningful information about Threshold and tBTC. It is structured in two phases, beginning with the Starboard Series, followed by the Starboard Rank competition later in the year.

This initiative is not a token event or NFT distribution. All campaign rewards are provided in USDC, and there are no token giveaways or airdrops.

Phase 1: Starboard Series

Phase 1 celebrates the launch of the Starboard Campaign through two introductory quests on Galxe.

Starboard Series #1: Follow Threshold and tBTC

Ends: October 30

Details: Participants follow Threshold Network and tBTC social profiles.

Rewards: 250 winners share a total of $500 USDC, receiving $2 each.

Note: Completion of this quest is required before joining Quest #2. Join here

Starboard Series #2: Spread the Word About tBTC

Ends: October 18

Eligibility: Participants must have at least 3,000 AURA points. You can check your points here

Rewards: 90 qualified winners share $4,500 USDC, receiving around $45 each. Join here

How to qualify:

Create a Galxe account.

Connect your ERC-20 wallet.

Submit your wallet address on the quest page.

Talk about Threshold by using the terms “Threshold network” and “tBTC” in one tweet, and make sure your content is correct. Spreading false information can get you disqualified.

Wait for the Threshold team to verify and update qualified participants.

Ensure your Galxe account address matches the address you submit.

Phase 2: Starboard Rank

Mechanics:Share a post about Threshold on X (formerly Twitter) and include both keywords “Threshold Network” and “tBTC”  in the same post to ensure the Galxe Campaign system recognizes it.  Your engagement and activity directly impact your ranking: the more you post and the higher your engagement, the more Aura Points you’ll earn, increasing your position on the Starboard leaderboard. To check your ranking, visit: https://app.galxe.com/quest/Threshold/starboard/755

Running until December 14, 2025, Phase 2 rewards the most accurate and insightful contributions about Threshold and tBTC.

Reward structure:

Top 1–5: $500 USDC each

Top 6–10: $400 USDC each

Participants are encouraged to focus on informed and thoughtful content that helps others understand tBTC’s role in expanding Bitcoin’s utility within permissionless finance.

Participation Guidelines

Accuracy and professionalism are essential throughout the campaign. Participants spreading misinformation or duplicating content will be disqualified.

Please note:

tBTC is not undergoing a token generation event or token launch.

Threshold does not issue or distribute NFTs.

All rewards are distributed in USDC only.

Repeated or misleading posts will lead to a 500 AURA point deduction or removal from the campaign.

Why Accuracy Matters

Every post shared under this campaign contributes to how new participants and institutions perceive Threshold and tBTC. Reliable communication ensures that discussions about Bitcoin in open finance remain grounded in facts and integrity.

By participating responsibly, contributors help strengthen community trust and expand awareness of tBTC’s purpose in connecting Bitcoin to broader financial applications.

Get Started on Galxe

Start your Starboard journey and join the community sharing accurate insights about tBTC. Regularly check your ranking on the Threshold Galxe Starboard.

Disclaimer: Participation in the Starboard Campaign is subject to Threshold’s community guidelines and Galxe’s platform terms. Rewards are distributed based on verified eligibility and compliance with campaign rules. Threshold does not offer financial advice, token distributions, or investment solicitations through this campaign. Participants are responsible for ensuring the accuracy of their submissions and adherence to all applicable laws and regulations.

Protected BTCFi strategies: tBTC integrates with Yield Basis to mitigate impermanent loss (IL) risk via 2x leverage mechanics.

As of initial launch day last September 1, $1M was immediately deposited into the tBTC pool, which ended the week at an APY of 146.54%, the highest across all BTC wrappers on Yield Basis (Markets Dashboard). Today, the second deposit cap is immediately filled at $10M, showcasing strong liquidity for tBTC.

Summary in Brief

In every gold rush, traders pursue speculative gains, while liquidity providers supply the infrastructure that enables markets to function. Unlike merchants of the past whose tools retained value, liquidity providers today face impermanent loss, which erodes capital during periods of high activity.

Threshold Network announces its integration with Yield Basis to address this structural problem. Beginning October 2, tBTC holders can participate as protected liquidity providers: participants whose capital is maintained through automated mechanisms, regardless of market volatility.

BTCFi Innovation: Automated Leverage with Mitigated Liquidation Risk

tBTC Pool is Now Live on Yield Basis

tBTC’s integration with Yield Basis represents a significant advancement in Bitcoin liquidity design. Through overcollateralization and automated rebalancing, the protocol maintains position value while applying 2x leverage mechanics within Curve’s BTC wrapper–crvUSD liquidity pools.

Unlike traditional leveraged positions, which face liquidation during volatility, Yield Basis applies a 200% collateralization ratio and automatically rebalances before liquidation thresholds are reached (CoinTelegraph). This mechanism preserves position value without requiring manual intervention, materially reducing liquidation risk.

This innovation introduces a new primitive for BTCFi: access to leverage while employing mathematical safeguards to mitigate the downside risk typically associated with such positions.

Why tBTC is the Optimal Asset for Protected BTCFi Strategies

Not all forms of Bitcoin in DeFi provide equal assurances. The choice of underlying asset is critical:

Custodial Wrapped Bitcoin: Single points of failure. BitGo controls WBTC. Coinbase controls cbBTC. One custodian, one concentrated risk.

tBTC: Secured by threshold cryptography across a distributed network of nodes. No single entity can freeze, seize, or compromise the underlying Bitcoin. In operation for five years, processing ~$2.7 billion in volume with zero security incidents.

When building protected liquidity positions, infrastructure security is foundational. Yield Basis protects against impermanent loss, while Threshold’s decentralized custody architecture eliminates centralized custody risk. Together, they enable comprehensive protection for advanced BTCFi strategies.

Understanding Protected Liquidity Provision

Casinos operate on predictable mathematical certainty. Their edge is systematic, not speculative. Every game is structured to ensure consistent profitability.

Traditional liquidity provision breaks this model. LPs enable trading but suffer impermanent loss when volatility increases. It is equivalent to operating a casino where the chips themselves lose value during peak demand.

With Yield Basis protection, the model changes. For example: a $100K tBTC liquidity position that would otherwise incur ~5.7% impermanent loss if Bitcoin doubles (Coingecko IL Calculator) is instead preserved under normal market conditions. Automatic rebalancing maintains the position’s value while facilitating increased trading activity. In this structure, liquidity providers retain the systemic edge.

The BTCFi Vision: From Bridging to Yield Infrastructure

tBTC was originally launched as a decentralized bridge, enabling Bitcoin to move across chains without centralized custodians. That was the first step. The broader vision is to make Bitcoin fully functional within DeFi, not only for transfers, but also as productive collateral in sophisticated yield strategies.

The Yield Basis partnership exemplifies this progression. Protected liquidity provision demonstrates how Bitcoin can operate productively without compromising security. The same infrastructure that secures cross-chain transfers now underpins strategies designed to minimize impermanent loss risk.

Threshold’s BTCFi thesis is clear: Bitcoin should serve as pristine collateral across all financial primitives. Not only for bridging, not only for holding, but for full-scale participation in financial markets with uncompromised security.

How to Access Protected tBTC Strategies with Yield Basis

Campaign Timeline

August 25: Curve DAO vote opens (7-day voting period)

September 1: Vote closes, deposits open with $1M initial cap

October 2: Second deposit opens with $10M cap (then later on opens to further deposits)

Post-launch: Expansion to Arbitrum, Fraxtal, Optimism, and Sonic

Ongoing: Continuous liquidity provision with automated protection

Mechanics

Protocol fees: Trading fees are distributed based on volume.

Token design: Depositors receive ybBTC, a yield-bearing token representing their protected position, enabling advanced looping strategies.

Deposit conversion: All BTC wrapper deposits (including tBTC) convert to ybBTC.

Leverage: Positions target 2x exposure, with automatic rebalancing to maintain the ratio.

Rebalancing incentives: Arbitrage ensures collateralization remains intact without user intervention.

Protection: Impermanent loss offset via leverage adjustment.

Example: A $100,000 tBTC deposit targets $200,000 in value through leverage. As prices fluctuate, automatic rebalancing sustains the ratio and preserves position value.

Yield Basis deploys deposited tBTC into Curve BTC wrapper–crvUSD pools. Users deposit tBTC only; all LP operations, borrowing, and debt repayment are automated. At present, the tBTC pool has $10M in deposits, opening up for further deposits via (Yield Basis Markets).

Risk Considerations

Yield Basis has completed six security audits, including one by Quantstamp. However, all DeFi protocols carry risk. Participants should consider:

Smart contract vulnerabilities

Oracle dependency

Protocol governance changes

Gas costs and network performance

General market volatility

Initial deposits are capped at $10M across all BTC wrappers. As always, only commit capital you can afford to lose.

How to Participate

How to Participate (tBTC Pool on Yield Basis)

Hold tBTC (mint at the Threshold Dashboard if required).

From October 2, access Yield Basis via https://yieldbasis.com/markets 

Deposit tBTC into protected liquidity pools.

Participate in advanced BTCFi strategies with IL mitigation mechanisms.

As BTCFi matures from experimental applications into institutional infrastructure, participants face a choice: to chase speculative gains or to establish durable positions in the infrastructure itself.

This partnership enables tBTC holders to contribute as infrastructure providers. To build lasting positions in Bitcoin’s financial system with mechanisms designed to preserve capital.

Protected Bitcoin liquidity is now live. The question is whether to participate as a prospector, or as a merchant.

The tBTC x Yield Basis pool officially opens today, October 2, 2025.

Stay connected: Follow @TheTNetwork, @tBTC_project, and @yieldbasis on X. Join our Discord for updates.

Disclaimer: The information provided is for informational purposes only and does not constitute financial, investment, or legal advice. Digital asset investments carry significant risk. Conduct independent research and consult licensed advisors before making investment decisions.

Liquidity provision has been a central mechanism in decentralized finance (DeFi), establishing the foundation for efficient markets and permissionless trading. From the introduction of automated market makers, liquidity pools have become a recognized infrastructure layer for digital assets. The launch of tBTC-MUSD (@MezoNetwork) pool on Uniswap V4, accessible via Merkl, represents a structured opportunity within this framework. With a defined incentive program and a narrow fee tier, the pool supports increased Bitcoin utility in DeFi while operating in line with established market practices.

What is this opportunity?

Merkl is offering a liquidity-incentivized campaign, allowing users to supply liquidity to the tBTC-MUSD pool on Ethereum under Uniswap V4, with extremely tight fees (0.05%). The pair is between tBTC (a tokenized Bitcoin on Ethereum) and MUSD (a stablecoin or USD-pegged token in this context). The pool has a very narrow fee tier, which is designed to minimize slippage and make swaps cheaper for traders, but also means liquidity providers (LPs) need to be more precise in positioning.

Here are the key stats:

APR: 28.5%, a relatively high reward rate, though subject to fluctuation depending on utilization and token prices. (Merkl)

TVL (Total Value Locked) is about $355K; this is the liquidity currently in the pool. (Merkl)

Daily Rewards: about $277 designated for participants in the campaign. (Merkl)

Campaign Duration: From 11 September 2025 through 18 September 2025, only a few days remaining at the time of writing. (Merkl)

How it works / Terms to know

To take part, you need to supply liquidity to this specific pool within certain bounds. The pool has specified lower and upper price bounds: between 85,000 MUSD/tBTC and 150,000 MUSD/tBTC. This means your liquidity must lie within that price range to be “active” and generate fees (and rewards). Liquidity outside the price band won’t capture the same benefits until price returns to the band.

Another component is the “Liquidity Contribution” structure of the campaign: LPs are judged based on how much of their liquidity is within-range. For example, to score full rewards, 20% (or ratio) of your provided liquidity must remain active (i.e., within the bounds). Portions outside the bounds are essentially dormant until the price moves back.

Risks and considerations

While the 28.5% APR is attractive, participants should also be mindful that yield opportunities in DeFi are not without trade-offs. Factors such as liquidity conditions, market volatility, and smart contract exposure can influence actual returns. As with any DeFi position, staying informed and exercising risk awareness is essential. Here are some associated risks in participating in DeFi pools:

Price-Bound Risk: If the market price drifts outside the specified bounds, your liquidity may become inactive (i.e. not capturing fees or rewards) until prices return. You’re exposed to gains and losses across that spread.

Reward Volatility: The actual realized APR depends on the usage of the pool (how many trades happen), how much of your capital remains active, and the token prices themselves. If trade volume drops, revenues drop.

Smart-contract / platform risk: As with any DeFi opportunity, participants should remain mindful of standard considerations such as smart contract exposure, bugs, or market slippage.

Is it worth it?

If you are moderately risk-tolerant, believe that tBTC’s price will stay within or oscillate through the 85,000–150,000 MUSD range, and want exposure to high APRs, this opportunity can make sense. For those seeking more stability or less active management, the risk of being out of range or facing impermanent loss might not be ideal.

If you want to explore pool yields while sticking to Bitcoin-based options onchain, you can look into our other available pools such as:

xBTC–tBTC pool on OKX Wallet → View Pool

tBTC–cbBTC pool on Curve → View Pool

Finding Value in Liquidity Provision

The tBTC-MUSD Uniswap V4 pool via Merkl provides a compelling chance to access high yields in DeFi, with transparent parameters and a solid reward structure. But it’s not “set it and forget it”: success hinges on understanding the dynamics of liquidity provisioning, staying aware of price movements, and being ready for volatility.

If you decide to participate, consider only allocating what you are comfortable managing and potentially rebalancing as needed. With that, you could leverage your capital in DeFi more efficiently while enjoying elevated rewards.

About Threshold Network

Threshold Network powers tBTC, the leading 1:1 Bitcoin-backed, decentralized wrapped Bitcoin for DeFi. Secured by a 51-of-100 threshold signer model, tBTC delivers true decentralization and is the most trust-minimized and liquid Bitcoin asset onchain with no custodians or compromises. Learn more: https://threshold.network

Ember Protocol has launched its new vault on Sui, introducing a streamlined way for users to access structured yield strategies. This development strengthens Sui’s DeFi landscape, expanding the tools available to participants who want to deploy capital efficiently in a secure and transparent environment.

At the core of this launch is the decision to make tBTC the first Bitcoin available as collateral within Ember’s vault. This integration not only underscores Ember’s commitment to building with reliable, composable assets but also highlights the growing role of tBTC as essential infrastructure for Bitcoin in decentralized finance.

Unlocking tBTC Structured Yield on Sui

1/3 tBTC is the first Bitcoin Collateral on the new @EmberProtocol_ vault by @SuiNetwork! As part of our Sui: Phase 2 campaign.Dive into the details 👇 https://t.co/y0Df8vGw4u

— Threshold Network ✜ (@TheTNetwork) September 10, 2025

The Ember Bitcoin Vault marks an important milestone for Ember Protocol on Sui. Built to make advanced DeFi strategies more accessible, the vault abstracts away complexity while offering users new ways to optimize their capital. For participants on Sui, this means engaging with sophisticated yield products without the need to manually manage multiple steps or strategies.

Threshold’s tBTC is the first form of Bitcoin collateral available in Ember’s vault. As a decentralized, 1:1 BTC-backed asset, tBTC allows users to maintain Bitcoin exposure while putting it to work in DeFi, transforming BTC from a passive store of value into productive capital.

For Ember users, this means the ability to unlock structured yield strategies on Sui without giving up their Bitcoin position.

Within just two days of launch, the vault has already attracted $2.53M in deposits, targeting an APY of 11.27%.

The strategy allocates funds across Bluefin ecosystem:

60% supplied to Bluefin Lend

20% borrowed for capital efficiency

20% deployed into Bluefin’s AMM auto-LP

...combining lending, borrowing, and liquidity provision into one optimized yield engine. (Important note: this strategy updates daily)From a protocol perspective, Ember’s decision to integrate tBTC is a strong signal of confidence. It recognizes tBTC’s decentralization, collateral efficiency, and growing liquidity footprint across multiple chains. Each integration like this strengthens tBTC’s position as the most DeFi-capable representation of Bitcoin onchain.

tBTC as the First Bitcoin Collateral

View the vault: https://ember.so/earn/eBTC

Threshold’s tBTC is now the first form of Bitcoin collateral available in Ember’s vault. As a decentralized, 1:1 BTC-backed asset, tBTC allows users to hold exposure to Bitcoin while participating in DeFi protocols. This makes Bitcoin not only a store of value but also productive capital.

For Ember users, the ability to post tBTC as collateral means they can unlock yield strategies on Sui without giving up their Bitcoin position. This creates an opportunity set that blends Bitcoin’s security and trust with DeFi’s flexibility.

From a protocol perspective, Ember’s decision to accept tBTC is a signal of confidence. It recognizes the asset’s decentralization, collateral efficiency, and growing liquidity footprint across multiple chains. With every integration like this, tBTC strengthens its role as the most DeFi-capable representation of Bitcoin onchain.

Why This Matters

View the vault: https://ember.so/earn/eBTC

For Ember Protocol: The vault represents a significant step in expanding its product suite. Accepting tBTC as collateral ensures that Ember can attract a broader base of users, including Bitcoin holders who want access to yield without leaving the asset behind.

For tBTC: Being chosen as the first collateral asset is a milestone that reinforces its credibility. Each integration confirms its reliability and deepens its utility across the multi-chain DeFi landscape.

For Sui: This integration expands Sui’s access to Bitcoin, bridging its ecosystem with the most significant asset in crypto markets. It increases liquidity potential, strengthens DeFi infrastructure, and creates momentum for additional adoption.

Building on Momentum

“The launch of Ember’s new vault is an exciting step for Sui’s DeFi ecosystem. tBTC being accepted as its first Bitcoin collateral is a strong signal of its growing role in DeFi, and we’re happy to support this milestone.” - Maclane Wilkinson, Co-Founder, Threshold Network

The launch of Ember’s vault with tBTC collateral is just the beginning. As more protocols on Sui and beyond adopt tBTC, the asset’s utility will continue to compound. Users can expect additional integrations that allow Bitcoin to flow seamlessly into structured products, lending markets, and other yield strategies.tBTC is designed to expand Bitcoin liquidity across multiple networks, making BTC truly composable in DeFi. As part of its mission to deepen adoption, Threshold is doubling down on Sui, with the Ember Bitcoin Vault launch serving as a cornerstone of the Sui x tBTC Phase 2 campaign. Users can now also bridge tBTC from Ethereum to Sui via https://sui.threshold.network, further unlocking liquidity and strengthening Sui’s growing BitcoinFi ecosystem.

tBTC on Sui enters its next chapter 🧵1/7 Phase 2 introduces cross-chain accessibility for tBTC on @SuiNetwork, including auto-compounding vaults and advanced yield strategies, solidifying Bitcoin's role in Sui's DeFi Ecosystem.Here's why we're doubling down on Sui👇🏻 pic.twitter.com/oEhck8H2ca

— Threshold Network ✜ (@TheTNetwork) September 3, 2025

For Threshold Network, this milestone is part of a broader strategy to ensure that Bitcoin is not only present in DeFi but also a cornerstone of its growth. Each new integration reflects steady progress toward building the infrastructure needed for Bitcoin to reach its full potential in decentralized finance.

Get started with tBTC on Ember’s new vault today: https://ember.so/earn/eBTC

About Threshold Network

Threshold Network powers tBTC, the leading 1:1 Bitcoin-backed, decentralized wrapped Bitcoin for DeFi. Secured by a 51-of-100 threshold signer model, tBTC delivers true decentralization and is the most trust-minimized and liquid Bitcoin asset onchain with no custodians or compromises. Learn more: https://threshold.network

August was a strong month for Threshold as tBTC continued to expand its footprint across leading protocols and wallets. New campaigns, collateral integrations, reward programs, and community milestones that advanced tBTC’s role as a secure Bitcoin in DeFi.

Milestones

August 14: tBTC TVL hit an all-time high of $723M, reaffirming its strength as the most reliable BTC in DeFi.

August 14: tBTC recognized as the top decentralized BTC protocol by DeFiLlama.

August 20: tBTC ranked among the top 3 tokens by bridge volume on Wromhole over 30 days.

August 27: tBTC achieved another milestone as the #1 BTC bridge by bridged volume on DeFilLlama, underscoring its unmatched adoption among Bitcoin bridge solutions.

Ecosystem Growth

Aave (Base & Arbitrum)tBTC went live on Aave V3 Base and Arbitrum with the Approval of the Improvement Proposal. This extends tBTC access to two of the most active ecosystems for borrowing and lending.

Explore tBTC on Aave (Base): https://app.aave.com/reserve-overview/?underlyingAsset=0x236aa50979d5f3de3bd1eeb40e81137f22ab794b&marketName=proto_base_v3

Explore tBTC on Aave (Arbitrum): https://app.aave.com/reserve-overview/?underlyingAsset=0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40&marketName=proto_arbitrum_v3

SparkLend tBTC was added as collateral with updated parameters: Maximum LTV set to 74% and Liquidation Threshold raised to 75%. This positions tBTC as blue-chip collateral with stable rates.

GearboxtBTC pool incentives extended until August 31, with APYs around 4.9%.

MezoThe $80,000 tBTC rewards program continued throughout August, strengthening liquidity on Ethereum L1.

OKX Wallet (Sui) The xBTC/tBTC pool is live with ~$1M TVL and boosted APRs reaching 427%. Incentives run until September 6.

Community & Events

Threshold was actively present at Bitcoin Asia and the Bitcoin Summit in Hong Kong (Aug 27–29), one of the year’s premier gatherings for the global Bitcoin community.

The team—Callan S. (Co-Founder & CPO), Isabella Yu (Growth Lead), and Ethan Hassall (Head of BD)—met with partners, builders, and innovators shaping Bitcoin’s future.

Importantly, Callan “Sap” Sarre was invited as a featured speaker at the event’s side panel “Innovation Meets Regulation: RWA, Stablecoins, and the Fusion of Crypto,” highlighting Threshold’s leadership in bridging Bitcoin utility with institutional-grade infrastructure.

The team also hosted the summit's official VIP Dinner on August 27, deepening relationships with key stakeholders across the ecosystem.

Team Growth

We welcomed Roberto Sousa to tLabs as a Software Engineer. Based in Braga, Portugal, Roberto brings 11 years of experience in software engineering with a background in cryptography. His expertise will strengthen Threshold’s technical development.

Strategic Impact: Expanding Adoption and Strengthening Community Trust

August advanced Threshold’s mission across three key dimensions.

On the institutional side, integrations with Aave and SparkLend solidified tBTC’s position as blue-chip collateral with strong collateralization standards.

On the retail side, distribution through Bitcoin.com and OKX brought tBTC to a wider audience of BTC holders through incentives and liquidity campaigns.

On the community front, tBTC achieved record TVL, was recognized as the leading decentralized BTC protocol by DefiLlama, ranked among the top 3 tokens bridged via Wormhole, and earned visibility at Bitcoin Asia where Sap represented Threshold as a featured speaker.

This combination of integrations, milestones, and market presence amplifies tBTC’s network effects, deepens stakeholder confidence, and positions Threshold to lead the growth of BTCFi.

Threshold Network has been making Bitcoin liquid and programmable since 2020, backed by trusted, battle-tested security. With over five years of zero breaches and billions in cross-chain volume, tBTC has proven itself as the trust-minimized standard for Bitcoin in DeFi.

That standard finally landed on Sui last July, and the results were immediate: Bitcoin became one of the fastest-growing assets in the ecosystem. Now, Threshold Network and Sui are doubling down on those efforts with the Phase 2 expansion of tBTC integration, bringing leveraged yield strategies and seamless cross-chain flows to users worldwide.

Phase 2 marks a decisive shift: Bitcoin isn’t just entering DeFi—it’s becoming an integral part of it.

From Proof to Momentum: Phase 1 in Review

When Phase 1 launched earlier this year, it set out to answer one question: Would users adopt Bitcoin on Sui if they had a secure, trust-minimized way to bridge it?

The answer was proven in numbers:

20% of Sui’s TVL in Bitcoin DeFi assets: Bitcoin quickly became a leading asset in the ecosystem.

$10M tBTC supplied on Alphalend: Users didn’t just bridge BTC—they lent it, borrowed against it, and engaged in credit markets.

Thousands of campaign participants: Multiple activation campaigns showed strong grassroots demand.

$2.8M+ liquidity added to vaults and pools

tBTC x Sui Phase 1 in Review | Threshold Network “Phase 1 proved that there is a growing demand for trust-minimized bitcoin onchain—it’s here, and Sui is the perfect home for it. When users bridge Bitcoin, supply it to markets, and actively borrow against it, that’s the clearest signal of product-market fit.” - Maclane Wilkison, CEO and Co-Founder of Threshold Labs,

Phase 1 showed that the foundation was strong. Phase 2 builds on it.

tBTC x Sui Phase 2 | Threshold Network

Phase 2: Scaling Bitcoin DeFi on Sui

Bitcoin represents more than 50% of the global crypto market cap, yet its integration into DeFi is still in its early stages. Phase 2 of tBTC on Sui aims to change that, unlocking infrastructure that makes BTC programmable, composable, and yield-bearing.

Seamless Cross-Chain Flow via Wormhole: As tBTC’s interoperability partner, Wormhole enables secure, seamless transfers between Ethereum and Sui via the Threshold UI.

AlphaFi Auto-Looping Vault: The AlphaFi vault compounds lending rewards multiple times a day. Deposited tBTC is looped in Alphalend, optimizing yields through automated lending/borrowing cycles, with low fees and no entry/exit costs.

tBTC x AlphaFi | Threshold Network

Expanded Liquidity Options for tBTC on Sui: New tBTC pool pairs are now live on Bluefin, enhancing composability across BTC assets. These pools further strengthen Bluefin’s position as a key liquidity venue in Sui’s growing BitcoinFi ecosystem.

Activation Campaigns with Sui Ecosystem: upcoming new campaigns are designed to guide both new and experienced DeFi participants in learning how to effectively utilize their tBTC within the Sui ecosystem, helping them unlock deeper utility for their Bitcoin. 

Upcoming Launch of a new structured vault product: This new structured product will highlight more earning possibilities for tBTC

tBTC x Wormhole | Threshold Network “Bitcoin DeFi is having its breakout moment on Sui, and it’s being powered by community demand and innovative builders like Threshold who are meeting that demand. Sui has become a home for Bitcoin liquidity in record time as users look to put their once static Bitcoin to use in Sui’s dynamic onchain environment.” - A deniyi Abiodun, Co-Founder and Chief Product Officer at Mysten Labs Why This Matters

For years, Bitcoin has been sidelined in DeFi. Threshold Network’s tBTC changes that, allowing BTC to move across ecosystems like Ethereum, Arbitrum, Base, BOB, and now Sui, without custodians or compromises.

Phase 2 isn’t just a technical milestone. It’s the start of Bitcoin taking its rightful place as the foundation of onchain financial markets.

Get Involved

Here’s how to participate in Phase 2 today:

Bridge tBTC from the Ethereum Network to Sui:https://sui.threshold.network/

Access Lending Options and tBTC Pools on Bluefin:https://trade.bluefin.io/lend

Try AlphaFi Auto-Looping Vault:https://alphafi.xyz/portfolio/ALPHALEND-SINGLE-LOOP-TBTC

Keep an eye out for upcoming community campaigns:https://app.galxe.com/quest/Threshold/GCKPitmf4Y

New Pool Pair (tBTC–USDC):https://trade.bluefin.io/deposit/0x1f121fb96bb1f57ac07564e7fad3a0412a6958701da1a66496b70f7ea15e051e

New Pool Pair (xBTC–tBTC):https://trade.bluefin.io/deposit/0x4ac34b740c30972b2ba10c417aa5a446fd0fe90a2bb62f9091683423f61202ab

About Threshold Network

Threshold Network is the decentralized protocol behind tBTC, a fully non-custodial, 1:1 Bitcoin-backed asset secured by a 51-of-100 threshold signer model. With over $700M in TVL and $3.8B in bridge volume, Threshold is the most battle-tested, trust-minimized Bitcoin infrastructure in DeFi. Learn more at https://threshold.network.

About Sui

Sui is a first-of-its-kind Layer 1 blockchain designed for fast, secure, and accessible digital asset ownership. With parallel execution, sub-second finality, and scalable architecture, Sui enables rich on-chain experiences at speed and low cost. Learn more at https://sui.io.

Threshold Network brought Bitcoin to Sui in July. Now, with Phase 2, it’s doubling down—expanding Bitcoin’s role from proof of adoption to unstoppable momentum in DeFi.

Threshold Network has reached a significant milestone in its mission to bring Bitcoin into onchain markets: tBTC is now live on Aave v3 Base and Aave v3 Arbitrum.

Following the strong adoption of tBTC on Aave v3 Ethereum, these new integrations extend Aave’s access to secure, permissionless Bitcoin liquidity across two of the fastest-growing ecosystems. For BTC holders, this unlocks more flexibility, deeper liquidity, and new ways to unlock bitcoin in broader financial markets.

Building on Proven Demand: Ethereum as a Foundation

The story began with tBTC’s launch on Aave v3 Ethereum in early 2024. Demand was immediate:

the initial 500 tBTC supply cap was reached within a week, and the limit has since been raised several times, most recently to 2,600 tBTC.

Today, thousands of tBTC are deployed on Aave Ethereum, where they provide liquidity for borrowers while allowing holders to earn yield without selling their Bitcoin.

The current supply on Aave Core (Ethereum) is at 1.88k tBTC (roughly around $ 205.4 million in dollar value)

This success on Ethereum created a strong foundation to expand into additional ecosystems. With integrations now live on Base and Arbitrum, Aave is positioning itself as the leading venue for BTC collateral across multiple chains.

Expanding to Aave v3 Base

On Base, tBTC is now enabled as collateral with a supply cap of 130 tBTC and a borrow cap of 13 tBTC. The Loan-to-Value (LTV) ratio is set at 73% and the liquidation threshold at 78%, parameters designed to balance capital efficiency with risk management. tBTC on Base is not only collateral-enabled and borrowable but also flashloanable.

Base has quickly established itself as one of the fastest-growing networks in DeFi, with strong developer activity and significant liquidity inflows. Direct minting of tBTC is now available on Base, enabling BTC holders to seamlessly transition into the chain and immediately supply their assets to Aave. Since launch, more than 116 BTC (around $12 million) has already been supplied, a sign of early and healthy traction.

For users, this means the ability to deploy Bitcoin directly within the Base ecosystem, gaining exposure to Base-native opportunities without first converting into ETH or stablecoins.

Supply tBTC on Aave v3 Base: https://app.aave.com/reserve-overview/?underlyingAsset=0x236aa50979d5f3de3bd1eeb40e81137f22ab794b&marketName=proto_base_v3

Expanding to Aave v3 Arbitrum

On Arbitrum, tBTC has also gone live, though with more conservative initial parameters. The supply cap has been set at 50 tBTC, with a borrow cap of 25 tBTC. The LTV and liquidation threshold mirror those on Base at 73% and 78%, but borrowing and flash loans are initially disabled.

This conservative setup reflects Aave’s cautious approach to risk management when onboarding new assets. It also fits well with Arbitrum’s ecosystem, which already supports one of the deepest pools of BTC liquidity in DeFi, more than 1,000 BTC secured across protocols like GMX. By adding tBTC to Aave, Arbitrum’s lending and borrowing markets are strengthened with Bitcoin as a base-layer collateral asset, ready to expand as demand grows.

Supply tBTC on Aave v3 Arbitrum: https://app.aave.com/reserve-overview/?underlyingAsset=0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40&marketName=proto_arbitrum_v3

Why tBTC Holders Should Use Aave v3

For Bitcoin holders seeking to maximize asset utilization, Aave provides one of the most compelling venues in DeFi. The adoption of tBTC on Ethereum already proved that there is strong and consistent demand to use Bitcoin as collateral. With new deployments on Base and Arbitrum, holders now have the flexibility to choose the network that best matches their strategy—whether it’s the deep liquidity of Ethereum, the speed and cost efficiency of Base, or the established ecosystem strength of Arbitrum.

tBTC is already integrated across leading protocols, including Compound, GMX, EigenLayer, Synthetix, Morpho, and Symbiotic. On Arbitrum specifically, tBTC has native minting, is live on GMX, and is backed by sticky liquidity for liquidations.

By supplying tBTC to Aave v3, holders can borrow stablecoins or other assets while keeping their long-term exposure to Bitcoin. This unlocks capital efficiency and enables strategies such as leveraged staking, liquidity provision, or simply holding stablecoins against BTC positions. Crucially, all of this happens within Aave’s carefully designed risk framework, which employs conservative supply caps, LTV ratios, and liquidation thresholds to maintain system stability.

Beyond lending and borrowing, Aave sits at the center of the onchain financial ecosystem. Integrating tBTC doesn’t just create access to credit—it connects Bitcoin to a broad range of DeFi opportunities, from derivatives to restaking, making Aave the most comprehensive venue for BTC collateralization today.

tBTC on Aave v3 Base and Arbitrum | Threshold Network Strengthening the BTCFi Stack

The addition of tBTC to Aave v3 Base and Arbitrum builds on Ethereum’s momentum and broadens Bitcoin’s role in onchain markets. These integrations increase the diversity of collateral on Aave, expand the set of options available to BTC holders, and strengthen the foundation of the emerging BTCFi economy across multiple chains.

With tBTC on Aave, it can power lending markets, provide liquidity, and serve as trusted collateral across Ethereum, Base, and Arbitrum.For users, the opportunity is clear: bring your BTC onchain with tBTC and let Aave unlock its full potential.

About Threshold Network

Threshold Network is the decentralized protocol behind tBTC, a fully non-custodial, 1:1 Bitcoin-backed asset secured by a 51-of-100 threshold signer model. tBTC enables native BTC to move across chains like Ethereum, Base, BOB, and Arbitrum without requiring custodians or compromising security. With over $700M in TVL and over $3.8B in bridge volume, Threshold offers the most battle-tested, trust-minimized Bitcoin infrastructure in DeFi. Learn more at threshold.network

July marked significant progress for Threshold Network and tBTC, with total value locked reaching $696 million and successful expansion to Sui Network. These metrics reflect broader developments in our mission to provide trust-minimized Bitcoin infrastructure for DeFi.

Sui Network Launch: Meeting Market Demand

Within 30 days of launching on Sui, 64.44 tBTC has been deployed across the ecosystem. This adoption rate demonstrates clear market demand for trust-minimized Bitcoin on high-performance chains.

The integration with AlphaFi introduced single-asset looping functionality for Bitcoin on Sui - a technical capability that simplifies user experience while maintaining efficiency. Users can now access 9.71% APR through automated looping strategies in a single vault, reducing complexity and gas costs compared to multi-step processes.

Bluefin is generating 21%+ APR on tBTC liquidity strategies, while AlphaLend offers 18.56% supply rates. These opportunities, combined with strong utilization metrics, indicate that Sui ecosystem participants value having access to decentralized Bitcoin infrastructure.

Campaign Extensions Based on Performance Data

Three major incentive programs received extensions in July, each decision driven by specific utilization metrics:

The Mezo Network program, distributing $80,000 in tBTC rewards, will continue through August 31. This program maintains essential liquidity depth on Ethereum L1, which serves as the foundation for cross-chain operations. The extension reflects strong participation rates and strategic importance.

Gearbox Protocol's Re7 Pool maintains 4.91% APY with 62.87% utilization. The extension through August 31 recognizes institutional demand for strategies without liquidation risk - a specific market segment that values capital preservation alongside returns.

Bucket Protocol earned an extension through August 20 based on tBTC's dominant position in BUCK stablecoin minting. When users consistently choose specific collateral for stablecoin generation, it indicates both technical reliability and market confidence.

Infrastructure Growth and Strategic Integrations

OKX Wallet integrated tBTC on August 7, launching with 13.99% APR and accumulating $5M TVL within the first week. This rapid adoption from a major platform validates the demand for decentralized Bitcoin access.

Asymmetry Finance now accepts tBTC as collateral for sUSDAf borrowing at 3.39% APR. The selection of tBTC among multiple Bitcoin representations reflects growing recognition of our security model and technical architecture.

Curve Finance continues processing substantial volume through the tBTC/cbBTC pool - $2.9M daily with minimal slippage even on million-dollar transactions. This liquidity depth enables institutional-size operations without market impact.

July Events: Building Ecosystem Relationships

The Ethereum Community Conference (EthCC) took place in Cannes from July 3-5. Threshold co-founder Callan "Sap" Sarre attended to engage with protocol teams and explore integration opportunities. These direct conversations with builders and developers help identify technical requirements and partnership possibilities that shape our roadmap.

On July 11, CEO Maclane Wilkison participated in a Bitcoin.com News podcast, providing detailed insights into our Sui integration strategy and technical architecture. This media engagement helps communicate our approach to trust-minimized infrastructure to broader audiences. Check it out here.

Strengthening the Team

July brought two strategic additions to Threshold Labs. Jem Salvio joined as Social Media Manager, bringing expertise in digital communications and community engagement. This role becomes increasingly important as we translate technical achievements into accessible narratives for diverse audiences.

José Orlicki joined the engineering team, adding development capacity for our growing integration pipeline. As demand for tBTC implementations across chains increases, engineering bandwidth directly impacts our ability to deliver.

Technical Differentiation in Practice

The single-asset looping vault represents a unique capability enabled by tBTC's technical architecture. Single-asset looping allows users to deposit tBTC, borrow more tBTC against it, and re-deposit in a continuous loop - all within one vault. This strategy amplifies exposure while maintaining the same asset throughout.

Why can tBTC enable this while other Bitcoin representations  cannot? The answer lies in protocol integration depth. AlphaFi can create looping strategies with tBTC because our protocol allows deep composability with lending markets. tBTC's standardized implementation across Sui protocols means AlphaLend can accept tBTC deposits, enable tBTC borrowing and integrate seamlessly with AlphaFi's vault architecture. 

tBTC’s technical foundation extends beyond looping strategies. Our 51-of-100 threshold signature model provides the security guarantees that protocols require for deep integration. With $3.6 billion in cumulative volume since 2020 and zero custody failures, protocols can build sophisticated products on tBTC knowing the underlying infrastructure is battle-tested.

Sustainable Growth Considerations

Current APR levels across various protocols reflect market conditions and incentive programs. As these programs conclude, rates will naturally adjust to sustainable levels. We monitor these transitions carefully, ensuring that core infrastructure remains robust regardless of short-term incentive structures.

The $696 million TVL represents trust from 3,911 holders who value decentralized infrastructure. Each holder represents a conscious choice to prioritize security and decentralization over potentially higher returns available through centralized alternatives.

August and Beyond

Threshold Labs will be attending Bitcoin Asia in August, which will provide another opportunity to platform tBTC and engage directly in the ecosystem. The team will be in Hong Kong, continuing the relationship-building approach that has driven our integration success.

Our recent strategic article, "Setting the Bitcoin Standard: What's Next for Threshold Network and tBTC," provides comprehensive context for these developments and our longer-term vision.

July's achievements reinforce that market demand exists for truly decentralized Bitcoin infrastructure. By focusing on technical excellence and responding to actual user needs, we continue building the foundation for Bitcoin's role in DeFi.

Explore tBTC opportunities at threshold.network

Disclaimer: The information provided is for educational purposes only and does not constitute financial, investment, or legal advice. Investing in cryptocurrency and digital assets involves a high degree of risk. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

Over the past few months, you may have noticed a shift in how we show up, not just in what we build, but how we talk about it.

This didn’t happen overnight. It was the result of months of conversation, debate, and alignment within the DAO — all grounded in one question: how do we stay true to Bitcoin while helping it move forward?

As we enter what many call the “Bitcoin Hypercycle,” countless new projects are emerging, each vying for a piece of the momentum. But Threshold isn’t new to this. We’ve been here since the beginning, and we have beaten all the odds, as we have consistently stayed true to our core belief that Bitcoin deserves more than storage and speculation.

Since 2019, we’ve worked to unlock its potential while fiercely protecting the values that make it what it is: trust-minimized, secure, and sovereign. No added gimmicks, just real liquid Bitcoin Onchain.

That belief hasn’t changed, and we have restructured to build on that belief even further. Threshold Network is no longer spread across many fronts. We’ve sharpened our focus into a singular mission: to make tBTC the dominant, decentralized, cross-chain liquidity rail for Bitcoin in DeFi. This isn’t just a pivot — it’s a commitment to go all in on what we believe matters most.

This article is a reflection of that shift. It explains where we’re going, why it matters, and how we’ll get there. No corporate buzzwords. No fluff. Just the honest story of how Threshold found its edge — and how we’re using it to build something Bitcoin can finally move through.

Genesis Mode: The Swiss Army Knife Era

Threshold was born from a vision of integration and synergy. Created through the groundbreaking merger of Keep and NuCypher in 2021, Threshold pioneered a bold approach: building multiple threshold cryptography applications under unified governance:

tBTC: The most decentralized Bitcoin Onchain

TACo: Threshold Access Control for Decentralized Data Sharing

thUSD: A BTC/ETH-backed stablecoin

Various other initiatives: Each leveraging shared cryptographic infrastructure

This diversified strategy aligned with bull market expansion thinking but created three key challenges as the market matured:

Strategic Catalysts in the DAO landscape

1. Resource Allocation Efficiency: By 2024, Threshold was allocating $1.5 million annually to operational overhead across multiple product lines, a common challenge for expanding DAOs. What works during growth phases often becomes suboptimal during periods of market consolidation.

2. Market Positioning Clarity: As tBTC demonstrated increasing product-market fit, our multi-product communication strategy created natural positioning challenges. Clear, focused messaging is increasingly becoming crucial in the current market.

3. Tokenomic Sustainability: T token staking emissions effectively bootstrapped network security, but like many maturing protocols, Threshold needed to evolve toward an economics model aligned with sustainable growth rather than initial network bootstrapping.

We're Not Alone: The DAO Evolution Wave

Threshold's transformation isn't happening in isolation. Across the crypto landscape, DAOs are abandoning the free-spending, multi-project frameworks to align incentives with revenue mechanisms, as shown in the illustration below:

DAO Evolution Wave (illustration by Threshold Network)

Evolution of DAOs (illustration)The bear market imposed a discipline that bull markets never require. It's not just a trend; it's natural selection in the protocol ecosystem. Projects that emerge from this evolution are leaner but stronger, with clarity of purpose and sustainable operations.

Formalizing Focus: The Architecture of Scale or “The Precision Framework”

In early 2025, the community implemented the Threshold Improvement Proposal (TIP-100 and TIP-103). Creating a strategic framework for accelerated growth:

Strategic Focus: T Network Labs is given resources by the DAO to make tBTC the premier trust-minimized Bitcoin liquidity hub for DeFi.

Precise Governance Restructuring: TIP-103 formalized this restructuring by establishing the Threshold Committee. This is a combination of the previous Treasury Committee and Council, consisting of 6 part-time paid seats and three volunteer seats with a 5-of-9 multisig threshold. This maintains security while reducing annual governance costs by ~$1.1 million.

Product Evolution: Transitioning non-core products like TACo to independent networks and suspending thUSD incentives, and later TIP-102 putting thUSD into "maintenance mode", to enable complete focus on tBTC.

Sustainable Economics: With specific revenue projections of ~32 tBTC annually from bridge fees, the restructuring implements a "buyback and make" model (proposed initially in TIP-54) that directs 70% of redemption revenue to buying T tokens. This transforms Threshold from a net seller to a net buyer of $T token, creating structural support for the token while funding continued development.

tBTC Appchain Development: Building a dedicated blockchain infrastructure explicitly optimized for Bitcoin bridge functionality and cross-chain integration.

TIP-100 established a strategic division of responsibilities: T Network Labs operates as a lean startup focused exclusively on tBTC development and growth, while the DAO maintains critical governance functions.

Rather than simply delegating execution, this created two complementary entities with aligned missions but different operational models: bringing startup agility to product development while ensuring robust grassroots community governance.

Maturing With the Market: Why Bitcoin DeFi is more critical now than ever

Image from: https://defillama.com/top-protocols

The external opportunity for Threshold is expanding dramatically, yet most of this activity happens through centralized or semi-centralized bridges: exactly what tBTC is designed to replace.

The DAO Evolution Pattern: Threshold's strategic focus reflects a broader pattern in the maturing DAO ecosystem. Projects like MakerDAO, Optimism, and Lido have similarly refined their governance and focus as the market has evolved from expansion to efficiency.

The Bitcoin DeFi Renaissance: Simultaneously, Bitcoin DeFi is experiencing unprecedented growth, with TVL rising over 2,000% in 2024 alone (from ~$300M to $6.5B). This surge creates perfect timing for a focused Bitcoin liquidity protocol; an opportunity that demands Threshold's complete attention. By focusing entirely on tBTC, Threshold is positioning itself to capture this growing demand at precisely the right moment.

Strategy to Shipping: What's Up Ahead

With strategic clarity established, Threshold's new roadmap can be read in the following proposals:

TIP-100: The Future of Threshold

TIP-98: The Initial Vision for Restructuring

TIP-092: Make T Great Again, Part 1 (Eliminate Inflation)

TIP-54: The Buyback & Make Model

The DAO's restructured finances project a ~23-month runway for stablecoin obligations, with $10.6M in T tokens held against annual protocol and incentives costs of $1.58M. This conservative financial planning ensures long-term sustainability while enabling strategic resource allocation to tBTC development.

A More Aligned, Agile Threshold

Threshold Restructure Goals

This evolution delivers four key advantages:

Execution Velocity: Streamlined governance enables faster technical development, integrations, and partner onboarding.

Market Clarity: A single-product focus creates unmistakable positioning, simplified messaging, and stronger partnerships.

Economic Alignment: Sustainable tokenomics creates structural alignment between tBTC adoption and T token value.

Technical Excellence: Concentrated engineering resources enable faster innovation and better security for tBTC.

Complementary Organizational Models: The restructuring creates specialized entities for different functions: T Network Labs brings a startup-style focus and agility to product development and growth, while the streamlined DAO governance (through the Threshold Committee) maintains robust community oversight, treasury management, and security functions.

The Next Phase for Threshold and tBTC is on the Horizon

Threshold DAO has embraced the natural evolution that successful protocols must undergo. By choosing strategic focus over diversification, sustainable economics over bootstrapping incentives, and execution excellence over exploration, we've positioned ourselves to lead in the rapidly expanding Bitcoin DeFi landscape.

This transformation represents the maturation of Threshold, a transition from the experimentation phase to targeted execution. It meant making tough choices about promising projects, refining our operational structure and aligning around our demonstrated strengths.

The result is an organization precision-tuned to achieve what matters most: bringing Bitcoin's massive liquidity into DeFi without compromising on decentralization or security.

The strategically focused Threshold DAO is now positioned to deliver on its core promise. No unnecessary complexity, no diluted efforts, just a clear mission and the optimized structure to achieve it.

By focusing our resources on tBTC, we've created the organizational clarity and execution velocity needed to compete in the current market demand. The leaner, focused Threshold is now optimized to deliver on its original promise.

For five years, Threshold Network has stood for what Bitcoin truly represents: trust-minimized, permissionless, and resilient. We’re not chasing trends — we’re building the future. T Network Labs is here to carry that momentum forward, stronger than ever.

No shortcuts. No noise. No gimmicks. Just setting the right Bitcoin standard onchain....

And we’re only getting started.