It’s commonly agreed that one of the major catalysts for DeFi adoption is interoperability — the ability for every tool, smart contract and DApp to interact with one other. There are a multitude of blockchains, each with its own DeFi ecosystem and community. Enabling digital assets to flow between all blockchains and their DApps effectively “unchains” the value of the entire $250 billion cryptocurrency market, enhancing its liquidity, utility and usability.
One such project building an interoperability solution is pTokens, which aims to make DeFi universally accessible. pTokens makes DApps usable to crypto users without having to sell or trade their Bitcoin, Litecoin, EOS or any other blockchain asset they hold.
pBTC is the first of the pTokens series, enabling anyone holding Bitcoin to mint their own Ethereum or EOS-compatible tokens. They can use their pBTC to start interacting with every DApp, including decentralized lending platforms where they can earn interest on their loaned assets. pBTC can be converted back to BTC at its current value and at any time.