Interlay v2 Whitepaper: From Bridge to BTC DeFi Hub
We are excited to share with you the long-awaited whitepaper outlining our vision for the future of Bitcoin in the rapidly growing DeFi space. As you know, Interlay has been working hard to bridge the gap between Bitcoin and DeFi, and now we are ready to take the next big step: native support for decentralized financial tools tailored to Bitcoin.
We have outlined our plans in detail in our v2 whitepaper. We believe that our vision for native support of decentralized financial tools tailored to Bitcoin has the potential to unlock a whole new world of financial possibilities, bringing Bitcoin closer to its original vision of a decentralized, transparent, and censorship-resistant financial system.
A first, alpha version of the DeFi Hub is already live on testnet.
We invite you to read the whitepaper and share your thoughts, ideas, and suggestions — and ultimately vote on the suggested course of action. Your voice as a community as always defines the next steps for Interlay — and in this case, for the future of Bitcoin DeFi.
The Kintsugi Testnet Competition was a success!
We wanted to take a moment to thank you for your participation in the Kintsugi trading competition. We are thrilled to announce that the competition was a great success, with 579 participants registered, 522 wallets connected to the platform, and more than 70 people providing us with invaluable feedback.
Thank you once again for your support and enthusiasm! If you want to look at more competition stats, take a look at our dashboard: https://stats.interlay.io/d/lzyjhMT4k/kintsugi-trading-competition?orgId=1&kiosk
Missed the competition? Worry not, more competitions and challenges are coming. Sign up to the newsletter to never miss another event!
New Features
USDT as Vault collateral on Interlay and Kintsugi
Interlay and Kintsugi now allow Vaults to use USDT as collateral for their operations, allowing them to spread their risk between more assets and enjoy the ease of measuring risk against USD. By adding stablecoin collateral, they can take advantage of reduced volatility and a more predictable risk profile.
Integrations
DIA x Interlay: iBTC collateral-proofing price feeds
Interlay and Kintsugi have partnered with DIA to add iBTC and kBTC collateral proofing to their data feeds: DIA will be monitoring the iBTC collateralization rate, making sure dapps can rely on the bridge security. This integration adds an extra pair of eyes to the iBTC bridge — a testament to Interlay and DIA’s shared values and commitment promote transparency in the crypto ecosystem.
Governance
Recommendations for Kintsugi’s DeFi-Hub Launch
Interlay is inviting its community to discuss the recommendation to launch its DEX and lending protocols on Kintsugi in February/March 2023. The recommendation includes details on the suggested DEX pools and lending markets. The community’s participation and feedback are crucial to the success of this project, so we encourage everyone to review the discussion post and contribute.
[Referendum] Prevent submission of proposals without a preimage
The Kintsugi chain allows the submission of proposals without noting the preimage. This is outdated and should not be done. A runtime upgrade should fix this.
[Referendum] Register SKSM as a foreign asset
We would like to register sKSM on Kintsugi as a first step towards the Kintsugi DeFi Hub launch.
[Proposal] Upgrade to runtime 1.21.10: Capacity-based vault revenue distribution
This proposal:
- Adds the capacity-based vault revenue distribution as outlined in https://interlay.subsquare.io/post/13
- Updates the Polkadot dependencies to v0.9.37
Updates Kintsugi to the latest runtime (breaking).
[Referendum] Interlay Grants Program — Milestone Payment 1 for RFP: Analytic Dashboard for Lending Market
The Interlay Grants Program is moving full steam ahead and we need your participation through governance:
Events
Advancing Bitcoin
Interlay co-founder Alexei Zamyatin will be in London on March 2nd speaking at Advancing Bitcoin. His presentation is titled “Bitcoin Bridges: Cure or Curse?”. Alexei will talk about how the demand for Bitcoin on other chains has increased since the release of the “Bitcoin sidechains” paper 8 years ago, with around 400k BTC bridged to other chains at the peak of the recent bull run. However, the majority of these bridges are centralized and may pose risks for users, as demonstrated by the recent depegging of SolanaBTC and the hasty shutdown of RenBTC.
Hiring
Community Lead
Do you have experience in community management and governance? Interlay is looking for a Community Lead to help us grow and engage with our community of users and supporters. If you are excited about the potential of blockchain technology and want to play a key role in shaping its future, we encourage you to apply for this exciting opportunity. As the Community Lead at Interlay, you will have the opportunity to help shape the direction of our project and work with a talented team of professionals dedicated to advancing the field of blockchain technology. Apply today and join us on this exciting journey!
About Interlay
Interlay is building a one-stop-shop for all things Bitcoin finance. BTC trading, lending, staking, and a way to deploy into other DeFi products. Trustless bridge at the core, AMM and money market on top, wrapped in a simple one-click interface with on/off-ramps and multi-chain support.
Follow both Interlay and Kintsugi on Twitter, join our Telegram, and hop in our Discord to keep up to date with daily updates from the team.
