interBTC is a revolutionary crypto project that has introduced a 1:1 Bitcoin-backed asset. This innovative product allows users to invest, earn, and make payments using BTC across a variety of DeFi platforms such as Polkadot, Ethereum, Cosmos, and many others. interBTC stands out in the crypto landscape due to its steadfast commitment to trustlessness and decentralization.
Security and Trustlessness
interBTC is secured through an insurance program where vaults lock collateral on the interBTC parachain in various digital assets. This system, inspired by the multi-collateral system of MakerDAO, ensures that if vaults misbehave, their collateral is slashed and users are reimbursed. For interBTC users, the only trust required is in the security of Bitcoin and their chosen DeFi platform.
Openness and Decentralization
In line with the principles of decentralization, interBTC has a radically open policy. Anyone, at any time, can become a Vault and contribute to the security of interBTC. This means that users have the opportunity to participate in the operation and management of the platform, reflecting the democratic ethos of the blockchain community.
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