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

Merchant Management

• Add Merchants - The contract owner can add merchants and set their deposit and withdrawal addresses. Only merchants can initiate minting and burning requests.

• Edit Merchants - The contract owner can update the deposit and withdrawal addresses of merchants to ensure uniqueness and accuracy.

• Remove Merchants - The contract owner can remove merchants and delete their associated address mappings.

Request Handling

• Minting Requests - Merchants 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 - Merchants 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.