All Bitcoin deposits must be automatically converted to sBTC on deposit into the Vault Wallet, and secured by the quorum of Drey Actuaries. sBTC peg is required to eventually offer the DREY/sBTC AMM for DREY token holders.
Initiative / goal
The sBTC peg will provide a liquidity mechanism enabling the DREY/sBTC AMM, but also providing a layer of programmability to Drey Fund deposits using Clarity lang smart contracts deployed to Stacks.
Hypothesis
We are betting on the Stacks ecosystem to have the this capability widely available via Nakamoto release. Further, Stacks must release the upgrade that can verify a Schnorr signature.
Acceptance criteria and must have scope
Any all smart contracts that are required for the peg-in/peg-out operation to work successfully.
Stakeholders
This is core tech/capability, so will affect all stakeholders.
Description
All Bitcoin deposits must be automatically converted to sBTC on deposit into the Vault Wallet, and secured by the quorum of Drey Actuaries. sBTC peg is required to eventually offer the DREY/sBTC AMM for DREY token holders.
Initiative / goal
The sBTC peg will provide a liquidity mechanism enabling the DREY/sBTC AMM, but also providing a layer of programmability to Drey Fund deposits using Clarity lang smart contracts deployed to Stacks.
Hypothesis
We are betting on the Stacks ecosystem to have the this capability widely available via Nakamoto release. Further, Stacks must release the upgrade that can verify a Schnorr signature.
Acceptance criteria and must have scope
Any all smart contracts that are required for the peg-in/peg-out operation to work successfully.
Stakeholders
This is core tech/capability, so will affect all stakeholders.
Timeline
TBC