[DRAFT][GF: Phase 1] Growth Experiments Grant: BTC holders bridge to Ethereum in a trust-minimized way

[John_Packel]

We are excited to share the following updates in fulfillment of Threshold’s grant milestones:

• 100 tBTC bridged: 282 tBTC bridged to date
• tBTC factory pool surpasses current size of sBTC/wBTC pool: tBTC/wBTC Pool now 10% larger
• Integration with at least one lending protocol: tBTC live on Synonym and Silo

tBTC bridged

As shown in this Dune dashboard, total bridged to date is 282.

tBTC factory pool

The tBTC factory pool is now 10% larger than the sBTC/wBTC pool ($546,483 vs $497,116)

sBTC/wBTC pool: Curve.fi

tBTC/wBTC Pool: Curve.fi

Integration with lending protocol

tBTC is now live on Synonym and Silo:

Synonym: Synonym - An Evolved Crosschain Money Market

Silo: silo.finance

Update on liquidity incentives from OP grant

From the portion of the OP grant received, 68,000 OP have been distributed as liquidity incentives to date via Merkl protocol. These incentives have been very successful, especially at specifically targeting tBTC liquidity. The Dune charts below demonstrate the growth in tBTC.

[John_Packel]

Just wanted to check whether the Council has any questions on Threshold’s fulfillment of milestones @Juanbug_PGov. Thanks!

[PGov]

Thanks for this message. Unfortunately, the one year grant deadline has been reached and the date we communicated various times prior was passed before milestones were submitted. We have reached out to foundation to see if they are still able to move forward and will keep you updated. Fingers crossed.

[PGov]

We were able to confirm that in this case, the grants will be disbursed in the coming weeks! Stay tuned from the foundation and good job!

[John_Packel]

Glad to hear that, and we look forward to continuing to help expand DeFi on Optimism!

[John_Packel]

We have claimed the remainder of the grant and look forward to continuing to deploy the tokens. Thanks for everyone’s support, and we will continue to update on major developments.