AnetaBTC is a fully on-chain, decentralized protocol that allows Bitcoin to be directly wrapped on the Ergo and Cardano blockchains. AnetaBTC enables Bitcoin holders to unlock the value of their assets in a secure and efficient environment to provide yield, without selling any Bitcoin and without any third-party custodian involvement, is in the case of wBTC which is on the Ethereum blockchain. wBTC is the largest wrapped Bitcoin protocol today with over $14 billion of locked Bitcoin value.
Wrapped Bitcoin has the potential to provide the Ergo and Cardano platforms with essential liquidity required for most all DeFi applications by transferring the full value of Bitcoin on a 1:1 basis — the total current market capitalization of Bitcoin exceeds $1.1 trillion, while the total value of wrapped Bitcoin on the Ethereum blockchain nears $20 billion.
AnetaBTC is crucial infrastructure to progress blockchain technology and decentralization — true decentralization, without any third-party intermediaries. AnetaBTC will be entirely on-chain using Ergo and Cardano smart contracts and fully compatible with decentralized exchanges on Cardano and Ergo.