Skale IMA Bridged WBTC WBTC

1. Summary

Ranks

Liquidity

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Developer

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Social

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Momentum (beta)

0

Stack Rank™

-

Price

$0.000000000000 0.0%

Market Cap

$ (#26144)

Supply

/ 0.00

Tags

Skale Ecosystem

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Price
All Time High (ATH) Date	13th Jul 2024 (1 month ago)
All Time Low (ATL) Date	13th Jul 2024 (1 month ago)

Supply & Trading Volume

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Description

Skale IMA Bridged WBTC

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Skale IMA Bridged WBTC

Skale IMA Bridged WBTC is a cryptocurrency that facilitates the transfer of tokens between the Ethereum mainnet and SKALE Chains. It leverages the Interchain Messaging Agent (IMA) bridge to enable secure and efficient transactions. This bridge allows users to transfer ETH, ERC-20, ERC-721, and ERC-1155 tokens between networks.

Key Features

• Token Cloning and Transfer:
  • Tokens are cloned on SKALE Chains, ensuring a 1:1 peg with the original tokens on Ethereum.
  • The IMA bridge manages the minting and burning of tokens to maintain this peg.
• Security Mechanisms:
  • Uses BLS threshold signatures and Trusted Execution Environments (TEE) to secure transactions.
  • Backed by Ethereum mainnet and SKALE Chain security mechanisms.
• Flexibility:
  • Supports a wide range of token standards (e.g., ERC-20, ERC-721, ERC-1155) and can be expanded to include any arbitrary message or token standard.
• Speed and Efficiency:
  • Transfer times are significantly faster compared to other bridges, with deposits and withdrawals taking seconds.

About Wrapped Bitcoin (WBTC)

• Definition: Wrapped Bitcoin (WBTC) is an ERC-20 token backed 1:1 with Bitcoin.
  • It provides a transparent and verifiable means of transferring Bitcoin on the Ethereum network.

Benefits

• Security: The Skale IMA Bridge ensures a secure and fault-tolerant transfer mechanism.
• Speed: Fast transfer times enable efficient transactions.
• Flexibility: Supports a broad range of token types and allows for customization.
• Cost Efficiency: Competitive with other bridges in terms of costs.

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