Omnichain BTC Asset FBTC Crosses $100M in TVL, Ignition Unveils “Sparkle” Campaign”

Singapore,
Singapore,
August
21st,
2024,
Chainwire

The
landmark
milestone
marks
the
start
of
a
new
era
for
Bitcoin’s
utility

Following
the
launch
of

FBTC,
an
omnichain
Bitcoin
asset
maintaining
a
1:1
peg
to
BTC,
Ignition
today
announced
that
FBTC
has
crossed

$100M
in
Total
Value
Locked
(TVL)
according
to
Dune.
Also
announced
is
the
“Sparkle”
campaign,
where
early
FBTC
holders
will
receive
points-inspired
“Sparks”
for
future
rewards.
FBTC
is
supported
by
core
contributors

Mantle,
a
burgeoning
DAO-led
blockchain
ecosystem
built
around
Ethereum
layer
2
(L2)
Mantle
Network
and
Ether
liquid
staking
protocol
mETH
Protocol,
and

Antalpha
Prime,
a
reliable
digital
asset
technology
platform
for
institutions. 

As
tokenized
bitcoin
assets
pave
the
way
for
Bitcoin’s
resurgence
in
DeFi,
FBTC’s
significant
milestone
ushers
in
a
new
era
of
Bitcoin’s
evolving
utility
and
velocity
—
transforming
the
original
cryptocurrency
from
a
simple
store
of
value
into
a
dynamic
asset
that
offers
the
potential
for
various
yield-generating
possibilities. 

Incubated
by
Ignition,
FBTC
is
an
omnichain
BTC
asset
that
is
liquid
and
easily
composable
in
various
yield
enhancement
strategies.
FBTC
aims
to
liberate
the
growth
potential
of
Bitcoin
by
becoming
the
standard
for
Bitcoin
transactions,
essentially
rendering
all
other
blockchains
into
a
Bitcoin
L2.
FBTC
is
currently
deployed
on
Ethereum,
Mantle
Network
and
BNB
Smart
Chain,
with
more
supported
blockchains
to
come. 

“The
remarkable
achievement
of
$100M
in
TVL
for
FBTC
in
such
a
short
time
is
not
just
a
significant
milestone
for
this
nascent
BTC
asset,
but
a
testament
to
the
evolving
landscape
of
Bitcoin
utility.
FBTC’s
rapid
adoption,
supported
by
Ignition’s
diverse
ecosystem
of
partners,
signals
a
new
chapter
in
decentralized
finance
(DeFi)
where
Bitcoin’s
potential
is
being
fully
realized
across
multiple
blockchains.
As
Ignition
continues
to
innovate
and
expand
FBTC’s
capabilities,
we’re
not
just
creating
opportunities
for
yield
—
we’re
reimagining
how
Bitcoin
interacts
with
the
broader
DeFi
ecosystem,”
said

Igneus
Terrenus,
Paramount
Pyromancer
at
Ignition. 

FBTC’s
rapid
adoption
is
supported
by
dozens
launch
partners,
including
heavyweights
such
as
Avalon
Labs,
Bybit
Web3,
Cobo,
Ethena
Labs,
OKX
Wallet,
Pendle
and
Solv
Protocol,
reflecting
FBTC’s
credibility
and
the
industry’s
evolving
interest
in
innovative
Bitcoin
solutions. 

With
FBTC,
Ignition
aims
to
create
a
seamless,
multi-chain
environment
for
users
to
efficiently
explore
DeFi
yields.
The
ability
to
swap
and
bridge
FBTC
between
Ethereum,
Mantle
Network
and
BNB
Chain
further
enhances
its
utility,
making
it
accessible
for
a
majority
of
blockchain
users.
Today,
holders
of
FBTC
are
able
to
leverage
their
idle
Bitcoin
holdings
across
several
yield-generating
opportunities
on
Ethereum,
Mantle
Network
and
BNB
Chain,
enabling
a
wider
range
of
use
cases
on
various
L1s
and
L2s
that
will
be
unveiled
soon. 

Ignition
also
unveiled
its
plans
for
an
upcoming
“Sparkle”
campaign.
Participants
will
receive
points-inspired
“Sparks”
for
their
engagement
with
and
contributions
to
the
FBTC
ecosystem.
Running
from
Aug.
21
to
Sept.
21,
eligible
protocols
for
the
Sparkle
campaign
include
PumpBTC,
Bedrock,
Mezo
Network,
Avalon
Labs,
Fuel
Network,
Pell
Network
and
Solv
Protocol.
Throughout
the
Sparkle
campaign,
Ignition
will
continue
to
integrate
new
protocols,
launch
side
campaigns,
and
offer
external
incentives
to
enhance
the
user
experience
and
reward
system.
Find
out
more
at

https://fbtc.com/ongoing-campaign. 

Looking
ahead,
Ignition
is
collaborating
with

Babylon,
the
self-custodial
Bitcoin
Staking
Protocol
that
aims
to
build
a
Bitcoin-secured
decentralized
world,
to
launch
a
BTC
vault
that
gives
users
exposure
to
Babylon
native
staking.
This
undertaking,
along
with
other
exciting
events
and
collaborations,
underscores
Ignition’s
unwavering
commitment
to
building
a
vibrant,
community-driven
ecosystem
around
FBTC.
The
rapid
adoption
and
strong
security
of
FBTC
signals
a
promising
future
for
Bitcoin’s
evolving
role
in
the
DeFi
landscape,
propelling
it
to
fully
unlock
its
immense
potential
within
the
broader
decentralized
finance
ecosystem. 

About
Ignition
FBTC

Incubated
by
Ignition,
FBTC
is
a
secure,
decentralized,
and
composable
BTC
asset
aimed
at
liberating
Bitcoin’s
true
power
of
growth.
FBTC
provides
a
liquid
Bitcoin
asset
that
adheres
to
a
1:1
peg
with
BTC
to
redefine
its
role
across
all
blockchain
platforms.
By
fostering
DeFi
composability,
cross-chain
interoperability,
and
promoting
widespread
adoption
of
BTC
applications,
FBTC
represents
the
beacon
of
a
high-speed,
low-friction
and
interoperable
future
for
all
blockchains
and
every
tokenized
economy
to
flourish.
FBTC
is
powered
by
core
contributors
Antalpha
Prime
and
Mantle. 

For
more
information,
users
can
visit

Website
|

X/Twitter
|

Discord
|

Telegram

Contact

FBTC
[email protected]