Deposit BTC for aBTC
A Bitcoin user interacts with the Atlas protocol, a NEAR smart contract, and initiates a native BTC deposit using their Bitcoin wallet.
The Atlas smart contract requests a NEAR Chain Signature to receive and send the BTC to a BTC staking protocol to generate yield.
The Atlas smart contract requests a NEAR Chain Signature to mint corresponding aBTC to a user's desired NEAR or EVM wallet.
The user can then utilize aBTC in DeFi protocols while the underlying collateral passively earns yield.
A diagram showing this is presented below:
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