Ignition has announced that FBTC's Total Value Locked (TVL) has exceeded $100 million. This is a positive step for the entire cryptocurrency community, especially regarding Bitcoin's use in DeFi.
FBTC Achievement
Since the launch of FBTC, which maintains a 1:1 peg to BTC, the asset has gained popularity. According to Dune, the Total Value Locked (TVL) for FBTC has reached $100 million. FBTC is supported by key ecosystem participants such as Mantle, Antalpha Prime, and many others.
Impact on DeFi
The activation of FBTC allows Bitcoin to be used not only as a store of value but also as an asset for various yield-generating strategies. This is a significant step forward for the use of Bitcoin in DeFi. FBTC is deployed on Ethereum, Mantle Network, and BNB Smart Chain, enabling users to easily perform operations and explore new opportunities in the decentralized finance space.
Future Plans and Campaigns
Ignition has also announced the 'Sparkle' campaign, which will run from August 21 to September 21. Participants will receive rewards in the form of 'Sparks' for their active participation and contributions to the FBTC ecosystem. The campaign will include several protocols, such as PumpBTC, Bedrock, and Avalon Labs. Additionally, Ignition plans collaboration with Babylon for creating another innovative solution in DeFi.
FBTC continues to gain momentum and demonstrate stable growth, opening up new opportunities for using Bitcoin in decentralized financial systems. The Ignition team is actively creating new partnerships and innovative solutions, ensuring a strong future for FBTC.
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