🟩Decentralized Bitcoin bridge

TeleSwap is a trustless protocol for bridging BTC and Bitcoin tokens (Runes) to other blockchains, including EVM chains and TON. It allows users to trade Bitcoin assets with ERC-20s and Jettons in a cost-efficient and fast manner. For example, users can buy native BTC from Ethereum using USDT, or sell their DOG for USDC on Base. It also enables users to leverage their Bitcoin assets on other blockchains by bridging them—for instance, borrowing USDC against BTC on the BNB chain, or lending BTC on Polygon to generate yield.

So, what makes TeleSwap unique?

Fully decentralized: TeleSwap is a fully decentralized protocol that anyone can use to bridge Bitcoin assets at any time without requiring permission. Users can freely bridge from Bitcoin to other chains and back to Bitcoin. Moreover, anyone can join the TeleSwap network and run a node to facilitate cross-chain transactions. TeleSwap nodes submit their work to the smart contract, which is verified against predetermined rules, and incorrect submissions are rejected. These nodes are required to lock collateral, which is subject to slashing if they act maliciously.

Bitcoin-grade security: TeleSwap protocol is as secure as Bitcoin. This means that by bridging your Bitcoin assets to other chains, you don’t sacrifice their security. This is achieved by leveraging a light-client bridge and slashing mechanism. A light-client bridge is a trustless bridge that enables validating Bitcoin transactions on other blockchains. This ensures that all requests have been included on Bitcoin, and no fake request can be processed. The slashing mechanism enforces honest behavior from TeleSwap nodes to manage Bitcoin assets safely; otherwise, their locked collateral will be slashed.

Seamless UX: Users can bridge between Bitcoin and other chains with one click, in a few minuttes and with a very low fee. For example, they can buy native BTC with BUSD from the BNB chain directly. This is unlike the experience of buying BTC from centralized exchanges (CEXs), where users need to deposit their BUSD to the CEX, trade it for BTC, and withdraw it again on Bitcoin. They also pay all the fees using the native token of the source blockchain, which covers fees for both the source and destination chains.