The development is part of a joint effort between Osmosis, Nomic, and Kujira.
2023 Conference, users can transfer Bitcoin to the Cosmos network via Osmosis' Nomic bridge for 1.5% of the transaction value. Users then receive Nomic Bitcoin , an IBC-compatible token issued by Nomic Chain, on a one-to-one basis. The nBTC can be bought, sold, and used to provide liquidity on Osmosis. They are also usable across more than 50 Cosmos-linked app chains.The nBTC Interchain Upgrade will be released on October 27 and is expected to activate on October 30.
Nomic developers say that during the early stages of nBTC's launch, there will be a hard cap of 21 BTCs for the cross-chain bridge."When the bridge reaches its capacity limit, applications will not be able to generate deposit addresses and users will not be able to deposit more BTC. This parameter will be controlled by Nomic DAO governance in an upcoming upgrade," developers wrote.
We want to let all you good people know the various use cases that will be immediately available on the Kujira network, so you can put your
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