TBitcoin will join other major cryptocurrencies like Ethereum (ETH), Dai (DAI), and Polkadot (DOT) on the network as collateral. This move is an effort by the network in maintaining the SORA (XOR) token price peg.
According to The creator of TAU protocol, Tim Swanson, says:
“Mechanisms behind generating and stabilizing synthetic assets are an on-going area of research ripe for practical uses in the expanding world of DeFi. The first implementation of the Tau Protocol applies some of the lessons learned from the previous generation of rebasing techniques by including real-world collateral in the form of BTCST, which creates a credible Schelling point.”
Now that tBitcoin is being announced, we are proud to welcome tBitcoin into the list of planned reserved currencies for the SORA token bonding curve! This brings the initial planned assets to:
This is great for XOR because it gives greater asset diversity and decentralized exposure to the intrinsic value of Bitcoin mining. It is also great for tBitcoin and BTCST because it can lead to a huge demand for tBitcoin to underwrite the XOR token. Additionally, tBitcoin and other Tau Protocol synthetic assets can be open for decentralized trading on the Polkaswap DEX.