Proposal to add gauge support for a tBTC/WETH pool on Base.
- Website: https://threshold.network
- Documentation: https://docs.threshold.network/
- Github Page: GitHub - keep-network/tbtc-v2: Trustlessly tokenized Bitcoin on Ethereum, version 2
- Forum: https://forum.threshold.network/
- Discord: Threshold Network ✜
- Twitter: https://twitter.com/tBTC_project
tBTC is a permissionless wrapped Bitcoin, that is 1:1 backed by mainnet BTC. tBTC is trust minimized and redeemable for mainnet BTC without a centralized custodian.
WBTC is a well known centralized wrapped Bitcoin.
This proposal aims to add a veCRV gauge for the Curve tBTC/WETH and pool on Base.
tBTC is currently the only BTC asset live on Base, and Threshold intends to secure this position with deeper liquidity.
The DAO has budgeted T token bribes to incentivise this pool, with the goal to build tBTC liquidity on Base.
tBTC operates on Threshold DAO’s decentralized threshold encryption protocol. Threshold DAO is governed by the network’s work token, T. T token holders govern the DAO via proposals raised to the Threshold forum, which can be raised to a vote via Snapshot, as well as the on-chain Governor Bravo module via Boardroom.
tBTC contract deployments are currently managed via the Council multi-sig, a 6-of-9 multi sig managed by trusted community members: 0x9F6e831c8F8939DC0C830C6e492e7cEf4f9C2F5f
In the future, all contract authorities will be passed to the Governor Bravo contract.
tBTC does not rely on an oracle price feed.
Least Authority: Audit of Keep Network tBTC Bridge v2 - Least Authority
Chainsecurity: Threshold Network Smart Contract Audit - Chainsecurity
Immunefi Bug Bounty: Threshold Network Bug Bounties | Immunefi
Threshold Network governance is decentralized, and updates are ratified by the DAO.
tBTC contracts updates are currently managed by the Council multi-sig.
tBTC is a wrapped BTC token, and is pegged to the price of BTC. Since launch, tBTC’s price has not significantly diverged from that of BTC. tBTC launched in January of 2023, and currently has ~1600 BTC to collateralize the ~1600 tBTC.
The tBTC/WETH pool on Base Cruve is a recently created pool.
Link to Base gauge: https://basescan.org/address/0x761B4888Af16536D1Da9f5aFcFB6507E01DE521B
Link to Ethereum gauge: https://etherscan.io/address/0x761B4888Af16536D1Da9f5aFcFB6507E01DE521B
The Base tBTC/WETH pool is intended to be a lynchpin of tBTC liquidity on Base.
Threshold DAO has allocated a portion of its incentives budget to bribe this pool.