Welcome to Threshold Time — a digest of the most newsworthy and exciting developments of Threshold Network.
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NETWORK UPDATES

tBTC Launches on Solana!

The first decentralized tokenized Bitcoin is now live on Solana's fast and scalable blockchain. tBTC is now operating across SIX networks, making DeFi more accessible than ever for Bitcoin hodlers, thanks to Threshold and its strategic integration with cross-chain communications protocol Wormhole, led by the Keep team.

This launch marks tBTC’s first collaboration with a non-EVM (Ethereum Virtual Machine) chain, a significant milestone on top of its 5 integrations with Layer 2 networks since May. And beyond this phase 1 bringing native BTC to Solana, upcoming innovations and integrations will ensure a seamless minting experience and expand the opportunities. Read more in this blog post and then head over to the tBTC Dashboard for bridging, step-by-step “How it Works” and other resources, including the tTBC Explorer.

Decentralized Exchanges and Liquidity Pools

Adding to the important milestone above, we’re delighted to announce tBTC’s integration with projects that enhance our position in the Solana ecosystem and provide an enriched experience for users:

Orca, a prominent automated market maker (AMM) on the Solana network, allows you to swap tBTC seamlessly and tap into Solana's vast liquidity pool.

Meteora, a strategic player in DeFi, facilitates tBTC liquidity providers earning yield from both trading fees and lending (see first-mover incentives here).

Jupiter Exchange, provides tBTC holders with the most competitive prices for trading tBTC with any token on the Solana network.

This Threshold linktree has a plethora of resources, including links to dozens of liquidity pools on Ethereum, Arbitrum, Base, Optimism, Polygon and Solana.

BitForge and TSShock

Recently, two attacks against the GG18 protocol and many implementations were publicly disclosed — BitForge, by the Fireblocks team, and TSShock, by Verichains. Good news is that tBTC remains safe, and the contributor teams defended against two attacks on the cryptography underlying tBTC quickly, quietly, and without drama. Read the full account, from the initial disclosure to takeaways and future work on the Threshold blog here.

Smart contract audit by Least Authority successfully completed

Security is paramount in the quickly evolving DeFi ecosystem, as highlighted by Fireblocks' disclosure of vulnerabilities in top wallet providers. Threshold's commitment to protecting our community is not just talk; it's action. Before launching tBTC on Solana, the network collaborated with Least Authority to thoroughly audit its Solana smart contracts. The audit praised the contracts’ meticulous security measures, and we've bolstered them with the Anchor Framework. For detailed info and link to the audit report read more.

Staking rewards available to claim

August rewards became available to claim on September 4. Just head to the Threshold dashboard, connect your wallet and follow the instructions to claim. Please remember to keep your nodes updated so they function properly and you earn staking rewards. See instructions on how to upgrade to the latest version in this Discord post by Threshold Tech Support Manager, Vict0r.

ICYMI

As we noted at the top, tBTC is now operating across 6 networks. In case you missed any of the exciting announcements this summer or want to read more about how tBTC is the only decentralized, fully-functioning, 2-way Bitcoin bridge on Ethereum, check out these blog posts:

• tBTC launch on Base: offering tBTC users lower costs, enhanced stability, and scalability

• tBTC redemptions live on Mainnet: fulfilling a March 2020 prophecy by Ethereum inventor Vitalik Buterin and completing a major, multi-year milestone in the tBTC protocol

• Blockchain news publication Modern Consensus covered tBTC redemptions, providing additional context on the historic achievement

• tBTC launches on Polygon: expanding the era of scalable, decentralized “Bitcoin, everywhere” — powered by Threshold’s integration with Wormhole

AROUND THE DAO

Threshold DAO governance updates 

Governance and other Threshold improvement proposals are continually discussed on Threshold's Forum, with voting taking place through Snapshot. Threshold needs YOU to participate.

• GP-032: Move token mint operations to Threshold Foundation subsidiary — following GP-025, the token holder approval of which authorized the set up of Threshold Foundation, this proposal has moved to Snapshot

• TIP-058: [Pilot] Aera for Threshold — 2 days remaining for the on-chain approval required allocate $250,000 to the Treasury Guild to trial Aera, an autonomous treasury management protocol

• TIP-059: Establish a Bug Bounty Program for thUSD — last chance to join the discussion via Forum comments on this proposal to build on the positive experience with the bug bounty program Threshold launched in April with Immunefi 

• TIP 54: tBTC & T, better together — this important proposal for accrued tBTC fees be periodically single-side deposited into a T / tBTC pool - effectively buying back T, with deposit amounts and timing determined at the discretion of the Treasury Guild - was split into two parts. The aspect regarding lowering the tBTC minting fee from 0.2% to 0.1% and allocating 13 million T for the Treasury Guild to manage a fee rebate program passed last month, while the aspect giving the TG spend approval on the DAO’s tBTC accrued from network fees for the purpose of the “buyback and make” model passed September 10. Threshold’s project manager, Luna, added characteristically helpful notes on the key provisions in her Forum post here.

Interested in delegating - or being a DAO delegate?

Community involvement in Threshold DAO decision making is critical. This can take many forms, and when it comes to voting, some work token holders choose to delegate their token weight to a trusted member of the community. This Forum page is the place to nominate yourself to become a Threshold DAO delegate or to find quality contributors to delegate to. Guides to delegating staked as well as liquid tokens are available on this Notion page.

INTERACT WITH THRESHOLDERS

Until it's your turn to be interviewed on "One Fern Between Two Keys", come get some close-ups with these opportunities. All are accessible via Discord: go to Voice Channels (the section below Main) and click on The Hangout.

Meeting times can change, so always good to confirm in Events (at the very top of the Discord server’s left navigation).

Integration Guild weekly call: Mondays at 4pm EST

Treasury Guild weekly call: Wednesdays at 8am EST

Weekly Community call: Wednesdays at 2pm EST

Marketing Guild monthly call: variable (check Events for date and time)

ADDITIONAL RESOURCES

• Website: Threshold.network

• Threshold dApp: tBTC Dashboard

• Discord: Threshold

• Twitter: Threshold

• Threshold Notion

• Threshold Github

• Threshold Reddit

• Threshold Telegram

WHAT DO YOU THINK?

Have questions, comments or suggestions for this newsletter? We'd love to hear them! Please take 60 seconds to fill out this survey.

You can also hop into the Threshold Network discord and get involved. If you’d like to join the Threshold Marketing Guild go to the #claim-a-role channel at the top of the discord and select the emoji, which will open the guild channels to you (the Integrations and Treasury guilds are available there, too).