Starknet Introduces Asset Runes for Bitcoin Users
Starknet has unveiled Asset Runes,a feature that lets Bitcoin users access tokens like USDC directly from the Bitcoin network. This innovation,shared on X,aims to bring Bitcoin closer to the broader crypto world.
Asset runes enable Bitcoin holders to interact with stablecoins and other assets without leaving the Bitcoin ecosystem. Users can now tap into Ethereum-based assets, including USDC, directly from Bitcoin. This feature ensures Bitcoin’s core values of decentralization and security remain intact.
Currently, USD Coin (USDC) is the first asset supported. Soon, Starknet (STRK), Ethereum (ETH), and Tether (USDT) will join the list. The system uses a trust-minimized bridge between Bitcoin and Starknet.It’s a significant step for Bitcoin,traditionally limited to BTC transactions. Now, thay can explore more financial tools.
Each Asset Rune is fully backed, allowing 1:1 redemption. The technology uses a secure bridge, eliminating the need for central intermediaries. This bridge is safeguarded by partners like Xverse and UTXO Management. It opens doors to Ethereum-like functionalities, such as trading and decentralized finance, without leaving bitcoin. This expansion bridges the gap between Bitcoin and other cryptocurrencies.
Key benefits include:
- Direct access to stablecoins and real-world assets.
- Facilitates Bitcoin’s integration with the wider crypto ecosystem.
Starknet’s partnership with Lombard Finance to onboard LBTC,a Bitcoin liquid staking token,further strengthens its Bitcoin integration.Additionally, the Broly proof-of-concept allows Bitcoin inscriptions to be triggered from Starknet wallets, expanding Bitcoin’s utility.
Looking ahead,Starknet plans to introduce Bitcoin staking by Q3 2025. Users will be able to stake wrapped Bitcoin and earn STRK rewards, unlocking more DeFi opportunities like lending and yield farming. This move aims to enhance Bitcoin’s role in decentralized finance, making it a more versatile asset.
For more details, visit the <a href="https://twitter.com/starknet/status/1927439802175037460?s=46&t=nznXkss3debX8JIhNzHmzw, solidifying its position as a bridge between Bitcoin and the broader crypto landscape.
