August 21, 2024, from Chainwire in Singapore, Singapore

Achieving this remarkable benchmark signifies a transformative phase for the practical application of Bitcoin.

by Alisa Davidson Ignition proudly announces that FBTC, an omnichain Bitcoin asset maintaining a 1:1 value relationship with BTC, has crossed this milestone in TVL, confirming its establishment in the crypto landscape. The 'Sparkle' campaign will reward initial FBTC holders with unique points, termed 'Sparks,' which can be exchanged for future benefits. FBTC has garnered support from key contributors. April 25, 2025 This initiative is supported by a growing decentralized autonomous organization (DAO) built on the Ethereum Layer 2 (L2) Mantle Network, as well as the Ether liquid staking protocol mETH. by As more tokenized Bitcoin assets emerge, they facilitate Bitcoin’s resurgence in decentralized finance (DeFi). FBTC’s important achievement marks a shift in how Bitcoin is perceived — evolving from a mere store of value to a dynamic asset offering diverse opportunities for generating yield. Alisa Davidson Developed by Ignition, FBTC serves as a liquid and composable Bitcoin asset that supports various yield-enhancement strategies. The goal is to maximize Bitcoin's growth potential, setting a standard for transactions and effectively transforming every blockchain into a Bitcoin L2. Currently, FBTC functions on Ethereum, the Mantle Network, and BNB Smart Chain, with plans for more integrations.

Igneus Terrenus, the Paramount Pyromancer at Ignition, states, 'Achieving $100 million in TVL for FBTC within such a short period is more than just a landmark for this emerging Bitcoin asset; it reflects the rapidly changing utilization of Bitcoin. The swift embrace of FBTC, bolstered by Ignition's varied partner ecosystem, heralds a new phase in DeFi, fully realizing Bitcoin’s potential across multiple blockchain networks. With continued innovations and expansions, we are redefining how Bitcoin interacts within the wider decentralized finance landscape.'

FBTC's rapid integration into the market is aided by numerous launch partners, including well-known names like Avalon Labs, Bybit Web3, Cobo, Ethena Labs, OKX Wallet, Pendle, and Solv Protocol, underscoring its credibility and the industry's growing interest in next-gen Bitcoin solutions.

With FBTC, Ignition aspires to establish a seamless multi-chain framework, allowing users to explore DeFi yields efficiently. The capability to swap and bridge FBTC between Ethereum, Mantle Network, and BNB Chain significantly broadens its functionality, making it available to a broad audience of blockchain users. Currently, FBTC holders can utilize their dormant Bitcoin assets to engage in multiple yield-generating opportunities across Ethereum, Mantle Network, and BNB Chain, effectively expanding the usable applications across both Layer 1s and Layer 2s that will be revealed in the future.

Ignition has also shared its forthcoming plans for the 'Sparkle' initiative. Participants in the campaign can earn 'Sparks' points for engaging with and contributing to the FBTC ecosystem. The campaign runs from August 21 to September 21, with eligible projects such as PumpBTC, Bedrock, Mezo Network, Avalon Labs, Fuel Network, Pell Network, and Solv Protocol participating. Throughout this period, Ignition will introduce new protocols and additional incentives to enhance the user experience and reward scheme. Additional details can be found at

Looking forward, Ignition is teaming up with a self-custodial Bitcoin staking protocol aimed at constructing a decentralized world secured by Bitcoin. This collaboration will lead to the creation of a BTC vault, providing users with access to Babylon’s native staking rewards. This initiative, along with many upcoming events and partnerships, showcases Ignition’s steadfast dedication to nurturing an engaged and community-focused ecosystem around FBTC. The rapid take-up and robust security of FBTC highlight a promising trajectory for Bitcoin’s integration into the DeFi space, paving the way for its vast potential to unfold.

Incubated by Ignition, FBTC emerges as a secure, decentralized, and composable Bitcoin asset, dedicated to unleashing the authentic growth potential of Bitcoin. It represents a liquid Bitcoin asset closely pegged to BTC, redefining its functionality across diverse blockchain ecosystems. By promoting composability in DeFi, facilitating cross-chain interactions, and driving widespread adoption of Bitcoin applications, FBTC stands as a symbol for a fast-paced, efficient, and interconnected future for all blockchain players and their tokenized economies. The development of FBTC is backed by essential contributors like Antalpha Prime and Mantle. https://fbtc.com/ongoing-campaign . 

For further insights, head over to April 25, 2025 Please keep in mind that the contents of this page aim to inform and should not be construed as legal, tax, investment, or financial advice. It's essential to invest only what you can afford to lose and seek independent financial guidance if you have any uncertainties. For additional information, reviewing the provided terms and conditions along with the support resources from the issuer or advertiser is advisable. MetaversePost strives for accuracy and impartiality in reporting; however, market dynamics are subject to change without prior notice.

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