Introduction

Fordefi, a leading MPC wallet provider, has integrated with dlcBTC, enabling institutional Bitcoin holders to access multi-chain DeFi opportunities. This integration combines Fordefi's advanced MPC technology with dlcBTC's self-custodial wrapped Bitcoin, offering secure Bitcoin deployment across various chains and DeFi protocols. By addressing key technical challenges, this partnership aims to accelerate institutional Bitcoin adoption in DeFi while maintaining robust security measures.

Partnership Overview

The collaboration between dlcBTC and Fordefi addresses the growing demand for secure and efficient Bitcoin custody in DeFi. By leveraging Fordefi's institutional-grade MPC wallet and dlcBTC's innovative approach to Bitcoin wrapping, this partnership offers a comprehensive solution for users looking to participate in DeFi with Bitcoin, without compromising on yield or self-custody.

"We’re incredibly excited to work with the talented team at dlcBTC. This integration is a major step forward in providing institutions with new DeFi opportunities, while still delivering the highest standards of institutional-grade self-custody and digital asset operations. Together, we’re making DeFi more accessible and secure for institutional players."

— Dima Kogan, CTO and Cofounder of Fordefi 

Key Features of the Integration

• Enhanced Security: Fordefi's MPC wallet technology combined with dlcBTC's theft-proof design, leveraging Discreet Log Contracts (DLCs), provides an unprecedented level of security for Bitcoin DeFi transactions.

• Seamless Cross-Chain Access: Users can easily deploy their Bitcoin in the form of dlcBTC across multiple blockchains using Fordefi's multi-chain browser extension or API, facilitated by Chainlink's Cross-Chain Interoperability Protocol (CCIP).

• Policy-Protected Workflows: Institutional users benefit from Fordefi's policy engine, ensuring compliance and risk management in Bitcoin DeFi activities.

• Yield Generation Opportunities: The integration opens up new avenues for Bitcoin holders to earn yield through staking, lending, and liquidity provision on multiple chains. Users can deploy their dlcBTC to earn real yield on various dApps and accumulate dlcBTC points.

• Decentralized Self-Custody: dlcBTC's merchant self-custody model eliminates reliance on centralized custodians, aligning with Fordefi's commitment to user control and end-user self-custody. This approach enhances security and reduces counterparty risk for institutional Bitcoin holders.

• Cost-Efficiency: dlcBTC offers significantly lower fees compared to traditional wrapped Bitcoin solutions, making DeFi participation more accessible.

Impact on the Bitcoin DeFi Ecosystem

This partnership represents a significant leap forward in the maturation of Bitcoin DeFi. By combining Fordefi's institutional-grade security measures with dlcBTC's innovative wrapping mechanism, the collaboration paves the way for increased institutional adoption of Bitcoin in DeFi. The integration addresses key concerns around custody, efficiency, and decentralization that have previously hindered Bitcoin's full participation in the DeFi space.

Collaborative Approach

1. Advanced Technology Integration: Fordefi has incorporated support for Taproot scripts, PSBT, and Schnorr signatures to enable seamless interaction with dlcBTC's protocol.

2. Cross-Chain Functionality: The partnership leverages dlcBTC's integration with Chainlink's CCIP to facilitate DeFi activities across multiple blockchains.

3. Streamlined User Experience: Joint efforts will focus on optimizing the process of self-wrapping Bitcoin and participating in DeFi activities via Fordefi’s multi-chain browser extension.

Company Profiles

About Fordefi

Fordefi's MPC wallet is an all-in-one solution for digital asset management. Their security platform offers native connectivity to dozens of blockchains, self-serve policy controls, smart contract address verification, transaction simulation, and real-time risk alerts, alongside a full-stack developer suite of native APIs and SDKs. Fordefi, founded in 2021, is a financial technology and software company at the forefront of institutional crypto asset management.

For more information, visit www.fordefi.com.

About dlcBTC

As a decentralized wrapped Bitcoin, dlcBTC leverages Discreet Log Contracts (DLCs) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge to cross-chain DeFi, backed by the security of the Bitcoin network. dlcBTC unlocks yield for your Bitcoin in DeFi with the benefit of lower fees and merchant self-custody, empowering users to put their Bitcoin to work.

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