🔐Bridge Process, Mechanism and Security

MTX will offer two mechanisms to allow both wBTC and native BTC holders to mint mtBTC on Ethereum Mainnet. mtBTC automatically earns Bitcoin restaking yield and can be used across EVM DeFi

Bridging Process for BTC holders (using AVS BTC <> ETH Bridge):

1. The user connects both their BTC wallet and their EVM wallet to the MTX App

2. The user is asked the amount of BTC they want to bridge from Bitcoin base layer to Ethereum Mainnet. The user will have to sign and accept to initiate the bridge transaction. BTC is escrowed and restaked for yield.

3. After BTC is escrowed, the user receives mtBTC on Ethereum L1. mtBTC is a liquid token that can be used across EVM DeFi

4. Bridging mtBTC back to BTC will require attestation from Validators of the relayer AVS before BTC is withdrawn out of escrow for the user on the Bitcoin base layer

Conversion Process for wBTC holders (using wBTC <> BTC Router):

1. The user connects their EVM wallet to the MTX App

2. The user is asked the amount of wBTC they want to convert to mtBTC. The user will have to sign and accept to initiate the conversion transaction. MTX will convert wBTC to BTC and restake this for yield.

3. After BTC is escrowed, the user receives mtBTC on Ethereum L1. Just like wBTC, mtBTC is a liquid token that can be used across EVM DeFi.

Bridge Audits:

To further enhance security, MTX will undertake multiple security audits from experienced auditing firms to ensure that the bridges and token contracts have no security vulnerabilities