Polkadot Eyes Bitcoin Reserve Plan Using 501K DOT in Yearlong tBTC Strategy 🔗
The Polkadot community has unveiled a plan to bolster its financial strategies by creating a Bitcoin reserve. This initiative involves converting 501,000 DOT, from the network’s treasury, into tBTC over a year using an automated dollar-cost averaging system.
The accumulated tBTC is intended for deployment in DeFi liquidity pools via a non-custodial bridge. This strategic move signifies a progressive step towards integrating more DeFi mechanisms within the Polkadot ecosystem, leveraging its existing assets to enhance financial diversity.