Sienna Network and Shinobi, the protocol behind the bridge for a PII protecting wrapped version of Bitcoin, called sBTC, enters a new partnership that will increase the use of the secret version of Bitcoin on Secret Network.
Sienna Network is excited for this partnership as Shinobi provides a much needed increased accessibility to Bitcoin on Secret Network.
sBTC is pegged 1:1 with BTC and comes with all the privacy preserving features of Secret Network as well as PII protection. This is done via their trustless bridge, which enables users to peg in and out of sBTC without any middlemen.
Yield initiative between Shinobi and Sienna Network will happen upon launch of Shinobi. 📈
SiennaLend launches in Q4 and the partnership with Shinobi will enable sBTC as collateral for borrowers.
The partnership will also cover future features. Stay tuned for more! 🚀