Thesis founder initiates proposal on 'WBTC Decentralization Roadmap'.

Odaily Planet Daily News Thesis founder Matt Luongo initiated a proposal on ‘WBTC Decentralization Roadmap’ at Threshold, which is not to be pre-merged, but to slowly increase the number of WBTC signers to avoid changes to the relevant contracts and maintain the current market structure. Phase 1 - BitGo and BitGlobal join the Threshold Network (1 month) In the first phase, DAO will delegate 40 million T to BitGo and BitGlobal to operate Nodes, enabling both companies to join the Threshold network. Both companies will be able to participate in supporting tBTC’s Decentralization custody, obtaining T release, understanding the Threshold network, and furthering custody in the Decentralization network. In addition, all operational WBTC DAO members and merchants will be provided with smaller delegations to further coordinate interests and strengthen the network. Phase 2 - Establish a free Decentralization path for WBTC holders (3-12 months) Next, we will establish a cost-effective way for WBTC holders to decentralize their custodianship. WBTC custodians will waive all redemption fees for holders of this kind. With confidence in the new system established, the contract can be deployed to automatically mint tBTC from WBTC. Finally, we will introduce an automated vending machine for smooth bidirectional conversion between two Tokens. Phase 3 - Decentralization WBTC Operating Expenses (more than 12 months) At this point in the roadmap, tBTC and WBTC will be largely interchangeable, with two different minting schemes. In the final phase, merchants will migrate to Decentralizationmint, and WBTC Token contract ownership can be transferred to Threshold DAO or 0x0 Address. Any remaining BTC held by WBTC custodians can be migrated to a Threshold Wallet that supports tBTC, fully decentralized custody.