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Strudel Finance News
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About Strudel Finance
Strudel is a one-way, trustless bridge linking Bitcoin to Ethereum. vBTC, the resulting asset, trades off counterparty risk for market risk, bringing more diversity to the tokenized-BTC landscape. In the long term, Strudel proposes itself to use the forces of crypto-economics to challenge the status quo of blockchain and free BTC from the grip of Wall Street.
By using the Strudel Dapp, Bitcoins are burned and marked with the Strudel protocol identifier. The burn transaction is then relayed to Ethereum, issuing vBTC in the exact ratio of 1:1.
$TRDL (/ˈstruːdəl/) is the governance and reward token for the Strudel Protocol. It is created on 2 separate occasions:
- When a user crosses BTC over the bridge, $TRDLs are minted alongside vBTC. Early users receive an exponential reward as depicted in the graph;
- $TRDL rewards are distributed per block to liquidity providers of various terra-farming pools. Of those, the vBTC-ETH pool takes a special role in maintaining the price peg.
Strudel Finance Markets
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