cedarmist/dapp-btc

Deposit BTC as ERC-721 NFTs with on-chain light-client, convert to/from liquid BTC

Liquid BTC on Oasis Sapphire

This project allows you to deposit and withdraw Bitcoin on the Oasis Sapphire confidential blockchain. Deposits of specific sizes (powers of 2) can be converted into LiquidBTC, an ERC-20 compatible token, which can in return be exchanged for real BTC.

It uses an on-chain Bitcoin SPV light-client to verify deposits have been made to addresses generated by the BTCDeposit contract. To redeem the underlying BTC a deposit can be 'burned' which reveals the secret key and address to the holder, meaning 'un-burned' BTC deposits can be freely traded or converted to & from LiquidBTC tokens because the secret key can't leak without it being evident.