BTC Proxy
  • BTC Proxy Documentation
  • Getting Started
    • What is BTC Proxy?
    • Current Challenges
    • Features
    • The Proxy Relay
    • BTC Proxy Advantages
    • Use Cases
    • User Interface & Navigation
    • On-Chain Transfer Restrictions
    • Fees
    • Minimizing Transaction Risks
  • Minting
    • How to Mint Video
    • What is Minting?
    • Minting Sequence
    • BTC Proxy Mint Interface
    • How to Mint?
  • Redeeming
    • How to Redeem Video
    • What is Redeeming/Burning?
    • Burning Sequence
    • BTC Proxy Redeem Interface
    • How to Redeem?
  • Custody
    • What is Custody?
    • Custodian Wallet Setup
    • Transferring Funds from Cold to Hot Wallets
    • Insured Custody
    • Regulated
    • Integration
  • PRXY Token
    • What is PRXY Token
    • Tokenomics
    • Functions of PRXY
    • Allocation
    • Roadmap
    • Legally Binding
  • BTC Proxy DeFi
    • Bitcoin Farming
    • Compound Staking
    • Treasury Bonds
    • Programs
    • Redux
  • Contract Addresses
Powered by GitBook
On this page

Was this helpful?

  1. Getting Started

Current Challenges

Describes the current challenges in the Ethereum ecosystem.

  • While Bitcoin makes up 40-60% of the crypto market, the smart contracts dominate Decentralized Exchanges (DEXs), digital swaps, derivatives, and micro banking applications.

  • Lack of a proper permissionless and decentralized bridge to transfer Bitcoin value to Ethereum/Matic DeFi has still resulted in over 14B to be transferred as of Oct 2021 either manually or with existing methods that are not suitable for institutional usage.

  • The centralized exchanges and systems exponentially increase counterparty risk of theft or loss and an inefficient transfer of value resulting in price slippage.

  • Institutions entering the market demand higher standards of custody for their Bitcoin

PreviousWhat is BTC Proxy?NextFeatures

Last updated 3 years ago

Was this helpful?