Interlay Teams Up and Integrates Band Protocol to Bring $1T Bitcoin Market to Polkadot
Interlay, the team building Polkadot’s trustless Bitcoin Bridge, PolkaBTC, has completed the integration with Band Protocol to secure the bridge through decentralized and robust Bitcoin price and fee feeds. Oracles provided by Band Protocol will be critical in maintaining a secure collateralization ratio on the bridge and overall system security.
PolkaBTC is the trustless representation of Bitcoin on Polkadot. Once deployed, users will be able to mint 1:1 Bitcoin-backed assets onto Polkadot, as PolkaBTC, and use these across a wide range of applications, including decentralized exchanges, stablecoins, and lending protocols.