Developed by Keno, now lead core developer at Sushiswap, and Johann Barbie, currently lead Strudel dev, the Strudel protocol is the first one-way, trustless bridge linking Bitcoin and other centralized assets to the Ethereum blockchain.
Our main competitor, wrapped BTC (wBTC), with a market cap of 8 billion USD, uses a multisig setup capped to around half a dozen signers. This means that that there is a real risk that signers could collude and remove the underlying value of the protocol.
Our other competitor is REN. However, REN uses a “trust-minimized” approach and is capital-inefficient since you need to put up more collateral than value you are wrapping. This means that you would need more value than the total value of bitcoins to be able to wrap them, making it un-scalable. REN relies on custodial control of multisig keys, whereas Strudel is trustless. Compared to other wrapping options in the market, Strudel’s trustless nature and low marketcap allows for considerable growth potential.
vBTC is currently traded on Sushiswap (primary) and Uniswap.
BarterTrade listing pending.
Top 10 CEX listing in negotiation.
The effect of “Add vBTC as a collateral asset”
“Dont add vBTC as a collateral asset”
vBTC is a bitcoin that you can collateralize, yield farm with, lend, etc. It is certainly possible that the protocol is never widely adopted. Which is a potential downside/negative.
Token address (vBTC): https: //etherscan. io/token/0xe1406825186D63980fd6e2eC61888f7B91C4bAe4
TRDL: https: //etherscan. io/token/0x297d33e17e61c2ddd812389c2105193f8348188a
Website: https: //strudel. finance/
Medium: https:// strudel-finance. medium. com/
Strudel.Finance roadmap: https: //hackmd. io/cieoaEO1SZ6YQkk2VALRSA
https:// t.me /StrudelFinanceOfficial
Discord: https: //discord. gg/hyqektnv
Github: https:// github. com/strudel-finance