Rift

Rift operates as a peer-to-peer protocol facilitating direct Bitcoin trading between users. It enables users to swap assets like ETH for BTC securely without relying on centralized intermediaries. The platform provides transparent fee structures and displays current market swap rates for efficient execution.

Updated 2 months ago

Funding

Funding not disclosed

Funding rounds are not available yet.

Founders

Founder details are not available yet.

Product

Problem

Bitcoin holders often must rely on centralized exchanges to trade for other assets, exposing them to custodial risk, KYC requirements, and potential liquidity constraints. Existing decentralized solutions lack native support for direct Bitcoin swaps, limiting seamless cross-chain trading for users.

Solution

Rift implements a peer‑to‑peer (P2P) protocol that enables atomic swaps between Bitcoin and Ethereum‑based assets such as ETH and cbBTC. The protocol leverages trusted execution environments (TEE) to verify transaction integrity without a trusted intermediary, ensuring that both sides receive their assets simultaneously. Users connect their Web3 wallets, specify the amount to send and receive, and the swap is settled on‑chain once the Bitcoin transaction is confirmed. Swap limits and fee calculations are displayed in real time, and completed swaps are recorded in an on‑chain history log for auditability. By removing custodial custody and order‑book matching, Rift provides a decentralized pathway for Bitcoin liquidity within the broader DeFi ecosystem.

Target Audience

The primary users are Bitcoin holders and Ethereum‑based DeFi participants who require non‑custodial, cross‑chain trading, as well as protocol developers seeking to integrate native Bitcoin liquidity into their applications.

Features

Atomic swap engine that coordinates Bitcoin transaction confirmation with Ethereum token transfer in a single, trustless operation
TEE‑based verification layer that guarantees both parties meet swap conditions before settlement
Direct wallet‑to‑wallet interface supporting popular Web3 wallets (e.g., MetaMask) for ETH and Bitcoin address input
Real‑time swap quotation UI showing send amount, receive amount, and applicable fees
On‑chain swap history ledger accessible via the dApp for transparency and compliance
Support for wrapped Bitcoin variants (cbBTC) to facilitate ERC‑20 compatibility
Configurable maximum swap caps (e.g., $39.3K BTC, $115.7K cbBTC) to manage liquidity exposure