🧵1/ Interlay co-founder @alexeiZamyatin has suggested a new token standard, BRC-21, which aims to enable cross-chain tokens on the #Bitcoin network. Let's explore this concept and its potential implications for the crypto world 👇
#BRC20 🧵2/ BRC-21 tokens are designed to provide a trustless way of minting & redeeming tokens on Bitcoin that were initially created on other chains, such as Ethereum, Cosmos, or Polkadot. This could allow for more seamless interactions between Bitcoin and other blockchains.

October Ecosystem Update

👻Trick: Spooky Sooning™️ (disclaimer: we're 𝘭𝘦𝘯𝘥𝘪𝘯𝘨 you knowledge that is neither a trick nor a drill 👀)

🎃Treat: New Integrations, crypto Halloween costume ideas for you to 𝘣𝘰𝘳𝘳𝘰𝘸, and upcoming events

🧵⬇️ 1/ TL; DR: covered in this thread

Read the full October Ecosystem Update here for everything new at the forefront of #Bitcoin innovation ⬇️

medium.com/interlay/ecosy…

The first decentralized solution for bridging #Bitcoin to any chain is here.

What can you use it for?

Here are a few examples 🧵⬇️ 1/ 🐻Hodling🐻

We had to start with the battle chant of the OG Bitcoiners. You have two options: hodl your Bitcoin in Interlay's decentralized network of secure and over-collateralized vaults or start your own vault after meeting criteria outlined here: bit.ly/3P60rFy

Update on aUSD issue:

As far as our current investigation shows, *the Interlay parachain is NOT directly affected*

What we know so far: Thread 👇 1/
The issue occurred on Acala, around the time the iBTC/aUSD pool went live (13 August, 22:41 UTC).

The current suspicion is that the incentives pallet was paying too many aUSD rewards, allowing the attacker to "mint" 1.2 billion aUSD.

Full history:
acala.subscan.io/account/26JmEc…