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  • 🪙Introduction
    • Overview
  • 🔩System Components
    • Architecture
    • Custodial Addresses
    • Onchain Smart Contracts
      • FBTC Bridge
      • FBTC Minter
      • FBTC Token
      • Fee Model
    • Offchain Service
  • 💡Ecosystem
    • Locked FBTC Token
      • Locked FBTC Protocols Information
  • 🔐Security
    • Roles
    • Contract Permission
    • Bitcoin Reserve Address
    • Risk Management
      • Pausing
      • Upgradability
      • Custody
  • 👉PROOF OF RESERVE
    • Proof of Reserve
    • FBTC-BTC Price Feed
  • 🛠️Developers
    • Smart Contracts
  • 🪬More
    • FAQs
    • Audit Reports
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On this page
  • Key Features
  • Qualified User Management
  • Request Handling
  • Fee Management
  • Security Mechanisms
  1. System Components
  2. Onchain Smart Contracts

FBTC Bridge

The strong liquidity of assets within the Ethereum ecosystem is attributed to the presence of numerous EVM-equivalent or compatible chains. This aspect presents a greater challenge for Bitcoin. Therefore, designing a secure and reliable bridge is essential for unlocking the potential of Bitcoin assets.

In its initial version, FBTC will utilize a TSS network to ensure the bridge's security.

Key Features

Qualified User Management

  • Add Qualified Users - The contract owner can add qualified users and set their deposit and withdrawal addresses. Only qualified users can initiate minting and burning requests.

  • Edit Qualified Users - The contract owner can update the deposit and withdrawal addresses of qualified users to ensure uniqueness and accuracy.

  • Remove Qualified Users - The contract owner can remove qualified users and delete their associated address mappings.

Request Handling

  • Minting Requests - Qualified users can initiate minting requests to convert BTC deposits into FBTC. Minting requests undergo verification and signature processes to ensure the legality and security of the transactions.

  • Burning Requests - Qualified users can initiate burning requests to convert FBTC back into BTC. Burning requests also undergo strict verification processes to ensure asset security.

  • Cross-Chain Requests - Users can initiate cross-chain requests to transfer FBTC from one chain to another. Cross-chain requests need to be confirmed and signed on both the source and target chains.

Fee Management

The FBTC Bridge contract employs a flexible fee model to collect and pay transaction-related fees. Fees can be paid by minting new FBTC or deducting from the user's account.

Security Mechanisms

  • Multi-Signature - All critical operations require multi-signature verification to ensure transaction legality and security.

  • Decentralized Governance - The contract is managed by multiple governance members in a decentralized manner to prevent single points of failure and malicious actions.

  • Real-Time Monitoring - The contract monitors all transaction requests and operations in real-time to ensure system stability and security.

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Last updated 11 months ago

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