Following a high-velocity start to the year, February focused on strengthening the core infrastructure supporting tBTC and expanding the practical use of tBTC liquid staking. This gave us insight into the long-term resilience of tBTC across the multichain ecosystem.
During the month, Threshold advanced validator integrations on Starknet, supported the launch of new Bitcoin yield vaults, and gained ongoing exposure in thought-leadership media. These efforts reflect a broader objective: connecting Bitcoin’s security model with the expanding opportunities emerging across DeFi markets.
The progress made in February reinforces tBTC’s position as a key gateway for Bitcoin liquidity across the multichain ecosystem while continuing to support long term growth in Bitcoin-based financial activity.
Highlights
- tBTC surpassed $1 billion in cumulative volume on Wormhole, highlighting growing cross-chain demand for Bitcoin liquidity and reinforcing tBTC’s role in enabling BTC movement across blockchain ecosystems.
- Threshold published the 2025 Benchmark Report with Alea Research, offering a data-driven analysis of tBTC supply trends, DeFi total value locked, and valuation metrics.
- The tBTC Staking Vault by Endur is now live on the Threshold App, introducing a structured pathway for deploying Bitcoin liquidity while maintaining BTC exposure.
- The tBTC Noon Vault launched on the Ethereum Network, offering delta-neutral strategies designed to generate USD-denominated returns independent of Bitcoin price movements.
- Hydrex introduced OP token incentives for tBTC liquidity, enabling users to earn up to 11% in dual rewards for providing liquidity.
Milestones
Over $1B in tBTC Moved Multichain via Wormhole
In February, tBTC surpassed $1 billion in cumulative cross-chain volume through Wormhole via their Portal bridge app, reflecting increased demand for Bitcoin liquidity across networks, including Ethereum, Arbitrum, Base, Optimism, Polygon, and Solana
This breadth of integration ensures that BTC holders have diverse ways to access liquidity and manage risk without sacrificing native exposure. By maintaining trust-minimized rails over six years of operation, tBTC continues to preserve Bitcoin’s core security assumptions while scaling its onchain utility.
tBTC on Starknet Demonstrates Durable Net Capital Formation
Performance snapshots from February show that tBTC is building sustained BTC liquidity on Starknet with measurable, structurally positive capital flows. Cumulative activity reached approximately 220 BTC in inflows against 155 to 160 BTC in outflows, demonstrating net-positive cumulative flows and resilient liquidity retention.
Notably, 98% of the total value locked (TVL) on Starknet remains in active use across multiple DeFi strategies. These metrics reflect a broadening user base and a mature ecosystem where tBTC serves as the foundation for productive Bitcoin positioning, even during defensive market cycles.
Ecosystem Growth
Endur Validator and Vault Integration on App
Threshold validators are now integrated into Endur’s liquid staking infrastructure. This allows Threshold nodes to secure Endur’s BTCFi stack by receiving delegated tBTC stake, directly strengthening validator decentralization while supporting liquid staking flows on Starknet.
Explore the vault: https://app.threshold.network/vaults/starknet-endur
New tBTC Noon Vault on the Ethereum Network
Noon Capital expanded its footprint with a new tBTC vault on Ethereum, generating delta-neutral, USD-denominated returns. The strategy is structured so that performance is generated in USD, while the vault maintains its BTC collateral base via tBTC.
At launch, the vault is fully allocated to Noon sUSN and currently displays a net APY of approximately 4.16%, with TVL over $850,000.
Explore the vault: https://app.threshold.network/vaults/eth-noon
Hydrex ($OP) incentives for tBTC
Hydrex introduced OP token incentives for tBTC this month, creating additional yield opportunities for participants providing liquidity.
Through this program, users who stake tBTC liquidity can earn up to 11% in dual rewards, combining Hydrex incentives with protocol-level returns. The initiative strengthens liquidity depth around tBTC while encouraging broader participation in Bitcoin-based DeFi strategies.
Community and Events
- Bitcoin Investor Week: Threshold Labs met with Bitcoin Market leaders to discuss how tBTC unlocks new opportunities for BTC across DeFi and onchain markets.
- Digital Assets Forum in London: At the Digital Assets Forum in London, Threshold joined industry discussions on Bitcoin’s growing role in modern financial markets.
- The Threshold community approved TIP-109 through a Snapshot vote, reintroducing a mint fee for tBTC: https://snapshot.box/#/s:threshold.eth/proposal/0x55ab722ebbc514df1fa82ecd91fea7d990ad33f75624fb475bf0d363ec64f7ee
Media Highlights
- Forbes Feature: Callan Sarre, CPO and Co-founder of Threshold Labs, was recently featured in Forbes discussing why Ethereum is "stuck between narratives" as the focus shifts toward protocol-level privacy and long-term value accrual. Read the full feature here.
- Educational Deep Dives: Bitcoin.com released a comprehensive explainer on how tBTC enables Bitcoin DeFi without trusting a single custodian, utilizing threshold cryptography to remove single points of failure. Explore the guide here.
Looking Ahead
As we enter March, Threshold continues to expand beyond its role as a bridge toward becoming a broader economic layer for Bitcoin. Recent community insights highlight growing demand for deeper capital deployment tools, with 33.3 percent of respondents prioritizing Vaults and 26.7 percent favoring Liquidity Pools. In response, development is accelerating around structured strategies that allow Bitcoin holders to generate returns through transparent onchain basis and funding mechanisms.
The early March announcement of the new Threshold Unified Bitcoin App reflects this continued progress. Read the full announcement on: https://threshold.network/blog/threshold-unified-bitcoin-router/
The All New Threshold App: Unified Bitcoin Liquidity App | tBTC
The protocol remains grounded in the trust-minimized framework that has supported tBTC for six years, ensuring that as BTCFi expands, it continues to align with Bitcoin’s underlying security model. Further updates and releases will be shared through Threshold Network in the coming weeks.
Follow Threshold Network for upcoming updates and releases.
