Its main product is a decentralized wrapped BTC asset on Ethereum network - tBTC. Threshold is also developing a stablecoin (thUSD) collateralized by tBTC.
T is the native token of the project. The current use cases for T include:
Staking: Stakers share the fees for all the services on Threshold network.
Governance: Token holders can participate in treasury governance and stakers can participate in proposals and voting.
The project consists of the following major components working in conjunction:
tBTC v2: a secure, non-custodial BTC wrappers that provides Bitcoin holders a permissionless way to use their BTC in DeFi.
Proxy Re-encryption (PRE): A scalable end-to-end encryption protocol that help applications to process encrypted data without revealing it.
Threshold DAO: The Threshold DAO has three primary bodies: Token Holder DAO, Staker DAO, and the Elected Council. A StakerDAO holds most of the decision power while a TokenHolderDAO manages treasury, token issuance, and governance changes. An elected council sets staker rewards and has the power to veto proposals.
As at May 27th 2022, the maximum and total token supply of T token is 10,000,000,000. The current circulating supply is 8,250,000,000 (~82.5% of the total token supply).
Learn more about the token distribution of Threshold here.