Overview
Interlay is revolutionizing the way Bitcoin interacts with the Polkadot and Kusama ecosystems through its innovative UI. By providing a seamless method to create interBTC and kBTC, platforms that accurately represent Bitcoin on these networks, Interlay ensures that users can engage in decentralized finance (DeFi) with ease. Notably, these tokens are backed 1:1 by Bitcoin, allowing for true asset security and liquidity.
Unlike other bridges, Interlay’s approach is truly open; anyone can participate as an intermediary, thus fostering a more inclusive environment for users. This configuration not only enhances accessibility but also builds trust within the ecosystem by relying on a network of collateralized third parties known as Vaults.
Features
- Open System: Anyone can become an intermediary by depositing collateral, making interBTC and kBTC unique in their accessibility compared to other bridge solutions.
- 1:1 Backing: Each interBTC and kBTC token is backed by an equivalent amount of Bitcoin, assuring users of true asset representation.
- Built with Modern Technologies: Developed using React, TypeScript, and Rust with a collection of open-source Substrate modules, ensuring a robust and flexible platform.
- Local Development Options: Users can run both the Kintsugi and Interlay UIs locally on testnet or mainnet, providing flexibility for developers and contributors.
- Support & Community Engagement: Interlay encourages community involvement and discussion through Discord, making it easy for users to connect and contribute ideas.
- Testnets Availability: Access to multiple testnets allows users to experiment and develop on the platform without risks associated with live operations.
- Rich Documentation: Detailed specifications and guidelines are provided, making it easier for developers to understand and utilize the system effectively.
