There’s a new tokenized bitcoin project coming to the decentralized finance (defi) ecosystem that’s recently received $1.4 million from blockchain investors. The project called Boringdao, a decentralized bridge between Ethereum and alternative blockchains, plans to launch the company’s bBTC tunnel this month in order to introduce another tokenized bitcoin.

On October 8, 2020, the Boringdao project announced the company has raised $1.45 million from a number of investors. Boringdao’s website says the project is a bridge between various blockchains and Ethereum. “We offer the opportunity for non-ERC20 assets to maximize utility and yield-generating effects,” the startup’s web portal notes.

Essentially, Boringdao wants to tokenize all the world’s assets, and this month the project aims to deploy its bBTC tunnel. The token bBTC will be a tokenized bitcoin (BTC) asset similar to renBTC, WBTC, and other projects connected to Ethereum.

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Source: https://news.bitcoin.com/boringdao-raises-1-4m-projects-tokenized-btc-bridge-backed-by-200-collateral/