anetaBTC 👼 Español

BTC descentralizado en la cadena de bloque de Ergo y Cardano 👼 Discord: 💬 Telegram: ✉

[anetaBTC 👼 Español @anetaBTC_esp]

Estamos entusiasmados de anunciar que cNETA staking estará disponible en Cardano mainnet el 16 de Octubre, 2022 👼

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Development Update for June 28th, 2024

We’re gearing up for public testnet and have a few steps before launch including:

1) Containerization and deployment of Guardian Angels
2) Update the frontend to work with the Guardian Angels and current bridge configuration

The Guardian Angels are now running smoothly for both minting and redeeming. We added support for using an external cold storage multisig, so if we get a redemption that is too big to handle it will just be ignored until we send enough BTC to the vault address, while at the same time redeeming all smaller requests.

We fixed all the vulnerabilities that come from the outside, so now the system is safe from anyone that is not a guardian angel, we just need to add one more feature that will make the system recover gracefully from the scenario where a redemption is executed but the fees on the network are skyrocketing and the tx gets stuck.

We added the required script for managing the vault manually (withdrawing some or all of the amount), so now we can easily craft transactions for the vault, inspect them and sign them among the Guardian Angels.

We’ll continue to update as we look forward to launching our public testnet.

GitHub: https://t.co/Np3yEBHDuY

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

V2 dashboard… 🔵

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

AnetaBTC Overview June 2024 🥷

We’ve processed over 110 BTC in transactions and we recently passed a governance vote to remove minting fees for 1 month.

When deployed, this should encourage more BTC holders to come experience the Cardano ecosystem.

V2 mainnet deployment will also come with additional minting and liquidity incentives for global adoption.

V2 internal testing started last week and everything has gone smoothly thus far. We’re on track to release our public testnet by the end of this month. V2 is decentralized and open source with a world class user experience.

Following V2 mainnet deployment, we’ll announce our roadmap plans for expansion.

We are in epoch 16/32 for cNETA staking. cNETA stakers are earning 0.0208 BTC and 500 ERG each epoch. Total rewards thus far has been 7,500 ERG and 0.3125 BTC with 10,500 ERG and 0.4375 BTC rewards remaining.

Thanks for your support as we look forward to launching our V2 protocol.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

V2 Development Update 🧵

Internal testing is ongoing and running smoothly.

We’re undergoing important updates to prepare for mainnet deployment.

This includes transitioning from Lucid to lucid-evolution, deprecating Blockfrost dependency (for getTip, getUtxoAddress, Lucid.Provider), vulnerability fixes such as Leader not executing, Payment paths DDoS, Quorum change mid operation, and bad signature spam.

Additionally we’re adding timeout and recovery functions from incomplete redemptions, and fee stabilization via consensus.

Next we’ll be adding our Guardian Angels. We’ll soon release the process for onboarding guardians and this will require hardware of ~12Gb or Ram, 1TB NVMA ssd, fast single thread performance CPU is preferred. Shoot us a message if you’d like to be considered an early guardian candidate.

All code is available on github and we’ll continue to update our community as we look forward to our mainnet launch.

https://t.co/Np3yEBIbkw

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Our V2 testing has begun and minting is working as expected thus far.

We’ll continue to update the community on our progress.

If this pace continues we are well on our way to a public testnet this month.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

V2 testnet loading… 👀

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Trading cNETA on Bitcoin DEXs

Yes or no… 🤔

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Overview of cBTC on Cardano.

Secure, scalable, and open source.

Thanks to our community for the support.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

V2 development update

Our public testnet is on track for next month.

During the last 2 weeks we dockerized the BitcoinCore software, and we’re now able to run a bitcoin node as a container, which is required for the final deployment of the guardian angels.

This allows us to run multiple instances on a single machine so we can move into the final stage of development.

Our code is open source and available below. 

https://t.co/Np3yEBIbkw

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Wrapped Bitcoin products remain one of the dominating forces across defi.

wBTC stats
$270 million TVL
$9.7 billion market cap
$57 million daily volume

Cardano is primed to capture some of this market share with a provably secure platform and predictable fees

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

BTC transaction fee is 600% higher than the cost of sending cBTC on Cardano

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

A few years ago the thought of having BTC on Cardano was a pipe dream.

Now you can easily swap ADA and BTC without a centralized exchange and inherit the low transaction fees and security of Cardano.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

May 2024

Here is what you can expect from the team:

First, our TVL remained steady at 18 BTC last month and we’ve now processed over 100 BTC in transactions. We deployed our multisig vault upgrade to increase the scalability and security of our protocol. There is currently 270 million cNETA staked and so far we’ve distributed 4,000 rsERG and 0.224 BTC worth 20k USD over the last 8 epochs. 28 epochs are remaining for this staking period. The most important initiatives at this time are increasing the liquidity of cBTC on DEXs, which creates both a healthier trading and lending market.

With that in mind, the current focuses are the following.

Increased Liquidity Incentives
The current TVL of cBTC/ADA is around 520k ADA TVL. This month our goal is to surpass 700k ADA TVL through newly announced incentives to be announced soon. We’ll strive for monthly increases in TVL to gradually create a deep cBTC/ADA pair. We’ll also look to start cBTC/USD and cBTC/BTC pairs. Additional incentives will be geared towards bringing more BTC to Cardano, and this month we are striving to see an increase to 25 BTC locked into the protocol.

V2 Development
We'll continue to make progress on our V2 protocol and will release a dev update in the coming days. We are still on track to release our public testnet this quarter. Our V2 protocol is highlighted by a full multisig structure and the ability to mint from any Bitcoin wallet to increase the amount of BTC that can be minted to a wider audience.

Growing Team
We’re currently in the midst of hiring more engineers to scale our production capabilities for V2 and prepare to build out our roadmap after V2, which will be focused on creating new possibilities with Bitcoin and introducing new blockchains to Cardano.

Thank you to our community for your support as we strive to build the best bitcoin wrapping protocol on Cardano.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

We recently deployed our multisig vault, which brings more security, decentralization and scalability to cBTC.

Below is documentation of how the vault upgrade works and security assumptions to consider when interacting with our protocol 👇

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Multisig vault upgrade testing was successful and mainnet deployment is now in progress. We expect the upgrade to be complete within 24 hours.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

Aneta V1
99.98% uptime
Processed over $6 million in transactions
18 BTC total value locked
Upgrading to multisig vault
Open source

Aneta V2
Mint from any Bitcoin wallet
No hot vault
Increased security
Increased decentralization
Open source

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

cNETA staking rewards will be available later today. cBTC and rsERG.

Multisig upgrade in progress.

Successfully processed almost 100 BTC in transactions.

Thanks to our community for the support.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

The multisig vault upgrade was approved by our community. This increases the security and scalability of our protocol as it will now rely on a 4/6 multisig schema to move large amounts of BTC. The protocol upgrade will be completed within the next 2 weeks.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

We did it. Congrats to our community on surpassing 100 votes. Thank you to the @LenfiOfficial community for showing out. The next steps will be announced shortly as we look forward to onchain voting.

[AnetaBTC 🥷 cBTC on Cardano @anetaBTC]

We pushed a new release to our dashboard.

🔹Transparent community fund tracking
🔹Added token prices

3rd staking rewards will be available tonight at 22:00 UTC. Estimated epoch APY 40% earning cBTC and rsERG.