Bridging Bitcoin and DeFi: The tBTC and Sui Collaboration

CN
21 hours ago

Jameel Khalfan, Head of Ecosystem Development at the SUI Foundation, and MacLane Wilkison, co-founder and CEO of Threshold Labs, delve into the exciting collaboration between tBTC and Sui in a recent episode of the Bitcoin.com News Podcast. They explore the unique advantages of tBTC as a synthetic bitcoin asset that enhances DeFi capabilities, allowing users to generate yield and borrow against their bitcoin holdings. The conversation covers the recent launch of tBTC on Sui, its initial success, and the future developments that promise to further integrate Bitcoin into the DeFi ecosystem. Listen now for an enlightening discussion on how this partnership is poised to reshape the landscape of digital finance.

About Our Guests

MacLane Wilkison is the Co-Founder and CEO of Threshold Labs, the DAO-elected operational entity for the Threshold Network. With a background in investment banking at Morgan Stanley, Wilkison transitioned into blockchain in 2012, driven by his interest in Bitcoin and decentralized technologies. Wilkison’s expertise spans both traditional finance and scaling blockchain innovations, making him a great voice on the future of decentralized finance and privacy in the digital age.

Jameel Khalfan is the Head of Ecosystem Development at the Sui Foundation, where he brings over a decade of experience in mobile gaming, business development, and partnerships to expand the adoption of Sui through partnerships.

Prior to joining the Sui Foundation, Jameel led the development of new business models at Google Play, focusing on innovative strategies to enhance the platform’s offerings. Before Google Play, he managed business development and partnerships for Pocket Gems’ mobile storytelling platform Episode. Earlier in his career, Jameel held positions at Globespan Capital Partners and Microsoft, gaining valuable experience in venture capital and technology.

Jameel holds dual bachelor’s degrees in Computer Science and Management Science from the Massachusetts Institute of Technology (MIT). He remains committed to the advancement of interdisciplinary education through his service on the MIT Corporation’s Visiting Committee for the Humanities.

Sui x Threshold Network (tBTC) Partnership

tBTC’s recent launch on Sui marks a significant milestone for Bitcoin in the DeFi space. Now live, tBTC can be directly minted on Sui via the Threshold app, making Sui the first non-EVM chain to support native tBTC minting.

In this podcast, Jameel and Maclane dive deeper into the tBTC x Sui integration.

“For Alphalend… It’s pretty straightforward. You can deposit your tBTC on Alphalend, earn yield, and borrow against it,” Jameel explains. “As you explore more of the DeFi ecosystem, there are other things you can do. For example, Bluefin—they have an orderbook where you can trade tBTC pairs or deposit into liquidity pools. You can also deposit tBTC to Bucket and use that as collateral,” he adds. “And lastly, AlphaFi is where they take a lot of really complex DeFi magic and make it simple for end users to leverage against an asset (in this case, tBTC).”

When Maclane was asked what this integration means for Threshold and DeFi users, he shared: “For the first 24 hours after launch, we had about a million TVL on Bluefin,” Maclane said. “Which shows an early indication of what people are looking to do with tBTC—like lending markets on Sui.”

Looking ahead, Maclane added: “Very soon, there will be support for tBTC in Wormhole’s Portal Bridge—a nice UI that lets you mint tBTC from other networks to Sui and take advantage of DeFi opportunities (on Sui).”

To learn more visit Sui.io and Threshold.network.


The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes or Spotify.


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