Threshold (T)
An Encryption Network for Blockchain Applications.- Threshold aims to become an encryption network for blockchain applications by making users’ information and digital assets private.
- It is the product of a merger between two decentralized protocols, NuCypher (NU) and Keep Network (KEEP) in 2022.
- 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.