DLC.Link Announces First Institutional dlcBTC Mint by Amber Group

dlcBTC allows users to leverage the security of the Bitcoin blockchain while accessing decentralized finance applications. It does so through a novel method of "self-wrapping," where Bitcoin is locked via Discreet Log Contracts (DLCs) into dlcBTC. This approach provides enhanced security by ensuring only the original depositor can retrieve the funds.

Amber Group's Integral Contribution

DLC.Link partners with institutions, known as "dlcBTC Merchants", to mint dlcBTC. As a dlcBTC Merchant, Amber Group has successfully minted the first dlcBTC, enabling them to meet clients’ demand for dlcBTC OTC trades and distribution. Together with DLC.Links, we aim to enhance and secure Bitcoin utilization across institutions and DeFi.

‍The Unique Benefits of dlcBTC

• Self-Wrapping and Segregated Custody: dlcBTC allows users to lock their Bitcoin in a multisig that only pays out to the original depositor. Each Bitcoin locked in a DLC remains distinct and cannot be commingled, ensuring individualized control and security.
• Theft-Proof Design: dlcBTC's pre-signed liquidation addresses make it theft-proof. Even in the event of a system breach, hackers can only transfer Bitcoin back to the original depositor, not steal it.
• Transparency and Efficiency: The process of locking Bitcoin into a DLC with cryptographic proofs is transparent and observable on the blockchain. Besides, the dlcBTC architecture is fully automated, resulting in rapid mint and burn times, typically completing the process in 3-6 block confirmations (under an hour).
• Cost Advantages: By eliminating the need for traditional custodial overheads, dlcBTC offers a more flexible and competitive fee structure, making it an economically attractive option for users.

‍Implications for Institutional Bitcoin Finance

The successful minting of the first institutional dlcBTC by Amber Group demonstrates the growing interest in secure and efficient DeFi solutions among institutional investors. dlcBTC offers a compelling alternative to existing wrapped Bitcoin options, providing unparalleled benefits in terms of security, decentralization, and user experience. Visit dlc.link to learn more about dlcBTC, and remember to follow us on Twitter to receive regular updates.

‍About DLC.Link

DLC.Link harnesses the power of Discreet Log Contracts (DLCs) to establish a theft-proof bridge between Bitcoin and Ethereum. In 2024, DLC.Link launched dlcBTC, enabling depositors to self-wrap their Bitcoin for DeFi on Ethereum while retaining full custody of their assets. This innovation transforms Bitcoin's role in DeFi, empowering depositors to engage in trading, lending, and hedging while maintaining self-sovereignty. For more details, visit www.dlc.link

‍About Amber Group

Amber Group is a global digital asset leader headquartered in Singapore. Since 2017, we've built full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investing and infrastructure. Backed by top investors and with deep expertise in crypto and traditional markets, we leverage AI, blockchain and quantitative research to deliver personalized and cutting-edge solutions to help our global client base of HNW individuals, institutions, crypto funds, exchanges and projects optimize returns safely in any market conditions.