Threshold DAO Announces $150K Prize Pool for WBTC Holders Migrating to tBTC on wbtc.party

Today, we’re excited to announce a $150,000 prize pool to reward WBTC holders who migrate to tBTC via wbtc.party. But this isn’t just a swap—it’s a movement to accelerate decentralization and self-sovereignty.

With this migration, you not only claim your freedom from centralized BTC-wrappers, but also get the chance to earn rewards, cover your costs, and make a stand for a decentralized future.

Migration rewards

Threshold DAO is funding a $150,000 prize pool for users who migrate WBTC to tBTC on wbtc.party. The rewards are distributed based on the proportion of WBTC you migrate during the two-week program. The more you swap, the bigger your share.

Migration is a simple deposit via the wbtc.party interface, and all costs associated with migration will be covered by Threshold DAO in tBTC.

Key Details:

• Duration: 2 weeks, from 12am UTC on September 30 to 11:59pm UTC on October 14.
• Eligibility: Migrate your WBTC via wbtc.party, sign the pledge, and hodl tBTC in your wallet for 1 month after the swap.
• Fees: retroactively covered by Threshold DAO, paid after 1 month hodl.
• Rewards: Proportional share of $150K in tBTC tokens.

Cost reimbursement in tBTC

When you migrate, the amount of tBTC you receive immediately may not be 1:1 with WBTC. This is because migration takes place via a swap that has fees, slippage, and gas costs. 

Threshold will reimburse all gas, pool fees, and slippage fees in tBTC. That means your migration is cost-free—you get 1 tBTC for every 1 WBTC swapped, with no hidden losses. Reimbursements will be made at the end of the 1 month hodl period.

Prize Pool Distribution

To qualify for your share of the $150k prize pool and reimbursement, you need to have signed the #saveWBTC pledge and hold your tBTC for 1 month post-migration. The total rewards, paid in tBTC tokens, will be distributed one month after the program ends. 

After the holding period, rewards will be distributed, and reimbursements will be made directly to your wallet in tBTC.

tBTC for a Decentralized Future

When you hold WBTC, your Bitcoin is locked in a centralized vault managed by a custodian. While this provides liquidity for DeFi, it comes at a cost. 

Alternatively, tBTC removes the need for centralized custodians. It’s backed 1:1 by Bitcoin, decentralized, and a fully open-source path into BitcoinFi on Ethereum, L2s,  Solana and other chains in the future.

tBTC is trust-minimized, meaning there are no single points of failure. Unlike WBTC, there’s no company controlling your underlying BTC, making tBTC a key pillar for the future of decentralized finance. 

By migrating to tBTC, you actively contribute to the decentralization of Bitcoin in DeFi—strengthening the ethos of self-sovereignty that Bitcoin was founded on.

Migrate today

Visit wbtc.party and take control of your Bitcoin today. To qualify for your share of the reward pool: 

• Migrate your WBTC to tBTC on wbtc.party before 11:59pm UTC on October 14
• Sign the #saveWBTC pledge
• Hold your tBTC in your wallet for 1 month post-migration