Keep provides tBTC, a decentralized, permission‑less bridge that tokenizes Bitcoin as a fully collateralized ERC‑20 asset on Ethereum. Using off‑chain “Keeps” and threshold cryptography, the protocol mints a 1:1 Bitcoin‑backed token without exposing private keys, enabling Bitcoin holders to access Ethereum DeFi safely and composably.
Funding
Funding not disclosed
Founders
Product
Problem
Bitcoin holders cannot directly use their BTC on Ethereum-based decentralized finance platforms because Bitcoin and Ethereum operate on separate blockchains, and existing bridges often rely on centralized custodians that introduce trust and security risks.
Solution
Keep (now part of the Threshold Network) provides tBTC, a permissionless, trustless bridge that tokenizes Bitcoin as an ERC‑20 asset on Ethereum. The protocol uses off‑chain “Keeps,” encrypted containers that hold private keys and perform cryptographic operations without exposing sensitive data on the public chain. By leveraging threshold cryptography and a decentralized network of node operators, tBTC mints a 1:1 backed token representing Bitcoin, enabling users to move BTC into DeFi while preserving full custody and security. The system is audited, open‑source, and integrates with existing Ethereum wallets and DeFi protocols, allowing seamless participation in lending, trading, and yield strategies.
Target Audience
Primary users are Bitcoin holders seeking to access Ethereum DeFi, as well as DeFi protocols and applications that require Bitcoin-backed liquidity on Ethereum.
Features
- Decentralized, permissionless bridge that mints a fully collateralized ERC‑20 representation of Bitcoin (tBTC) at a 1:1 ratio
- Off‑chain “Keeps” store private keys using threshold encryption, ensuring data confidentiality and eliminating on‑chain exposure
- Trustless minting and redemption process governed by a network of independent node operators and audited smart contracts
- Compatibility with standard Ethereum tooling, wallets, and DeFi protocols for immediate liquidity and composability
- Open‑source codebase and formal security audits by leading blockchain security firms