As Bitcoin thrives this holiday season, Threshold DAO brings festive cheer with rewards now available for wbtc.party participants.
Rewards and reimbursements from October’s migration campaign are now available, and participants can claim their tBTC on Merkl. Just in time for a new holiday tBTC yield strategy, you can put your trust-minimized Bitcoin to work, earn yield, and grow your sats stack.
In October, Threshold DAO launched a $150,000 prize pool to incentivize WBTC holders to migrate to tBTC via wbtc.party. All rewards, slippage, and gas reimbursements are now claimable for participants who migrated their WBTC, signed the #saveWBTC pledge, and held their tBTC for the required one-month period.
The original $150K prize pool has grown significantly, thanks to Bitcoin’s price increase since September 30th. A total of 2.453 BTC ($238K) in rewards and reimbursements is now available to claim on Merkl.
How to Claim Your Rewards:
Claiming your tBTC rewards is quick and easy. Follow these steps:
1. Visit the tBTC Merkl campaign page.
2. Connect your eligible wallet.
3. Select your address from the ‘Leaderboard’ section.
4. Click ‘Claim all’.
5. Verify and sign the transaction.
6. Look for the confirmation at the top-right of the screen—it will say ‘Claimed rewards’ and include a link to the transaction on Etherscan.
✨ With BTC’s recent surge in value, your rewards are now worth more—perfect for exploring new tBTC opportunities this holiday season.
This initiative was not just about swapping tokens—it represented a pivotal moment for decentralization. It aimed at growing awareness for trust-minimized solutions for Bitcoin in Decentralized Finance (DeFi) as Wrapped BTC (WBTC) faced industry-wide scrutiny for unilateral custodial changes that inserted Justin Sun into the failing business.
A Crisis of Confidence in WBTC
The Bitcoin derivatives market is at a pivotal moment. Following Justin Sun’s involvement in WBTC custody, the WBTC ecosystem has faced unprecedented scrutiny. This has underscored the risks of centralized custody solutions, leading to a 13% drop in Total Value Locked (TVL), Maker removing WBTC as collateral, and Coinbase delisting WBTC.
WBTC, once the simplest way to bring Bitcoin to DeFi, was never meant to be the final solution. tBTC addresses the flaws of centralized systems like renBTC and HBTC by eliminating reliance on traditional custodians. Instead, it leverages a network of nodes operated by Threshold Network stakers.
Why tBTC is the Better Alternative
Unlike WBTC, which relies on centralized custodians, tBTC is a decentralized and trust-minimized Bitcoin solution for DeFi. Backed 1:1 by Bitcoin, tBTC eliminates the need for centralized custodians while preserving accessibility across chains like Ethereum, Arbitrum, Base, Solana, and more.
Here’s what sets tBTC apart:
- No Central Custodian: Your Bitcoin isn’t controlled by any single entity.
- Open-Source: Built on transparency and community-driven development.
- Transparent On-chain Proof of Reserves: tbtcscan.com
- Strengthening DeFi: As decentralized finance evolves, tBTC is poised to become the cornerstone of a trust-minimized Bitcoin economy.
By migrating to tBTC, you’re not just swapping tokens—you’re actively contributing to a decentralized future where self-sovereignty reigns supreme.
Looking Ahead: Bitcoin Finance Opportunities
With rewards in hand, participants can explore exciting tBTC yield opportunities this holiday season. From borrowing and lending to liquidity provisioning, Bitcoin restaking, or leveraging Bitcoin Layer 2 solutions, now is the perfect time to make your Bitcoin work harder.
For those who participated in the migration campaign, thank you for supporting the movement toward decentralization. Your participation strengthens the Bitcoin DeFi ecosystem and sets a precedent for trust-minimized solutions.
For those who missed out, the work doesn’t stop here. As the WBTC ecosystem continues to face uncertainty, the Threshold DAO remains committed to providing tools and infrastructure for a decentralized Bitcoin experience. Stay tuned for future initiatives that support this mission.
