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MrsThreshold (Ashley) 0:02 Happy Friday, everyone. Welcome to the Threshold weekly community called this week we have a full group of special guests. We have Wormhole Arbitrum. We also have Mike from balancer. So we're going to talk about Bitcoin everywhere today. If you guys want to kick us off, and I'm gonna go around and ask everybody to give a really brief intro, just who you are and where you are contributing to. I'm gonna start off with my co host. Colin, if you could just give a brief intro duty to yourself, please, sir.

Colin 0:42 Hey, happy Friday, Ashley. Well, I'm Colin known as the Kobo ski. I recently joined the Marketing Guild committee, and I'm here actively contributing so excited. And I'll hand it off to McLean if you want to go next.

MacLane Wilkison 1:02 Thanks, Colin. Hi, everyone. Happy to be here. I am MacLane. I am one of the cofounders of NuCypher which is is one of the legacy networks that merged with Keep to forum Threshold network. And now of course, we are one of the contributing teams to Threshold.

Mike (Balancer) 1:21 Everyone might be. I am on the BD team at bouncer and I do many other things at bouncer have been here for over two and a half years now. And I've been in crypto since 2013. So yeah.

MrsThreshold (Ashley) 1:43 Hey, Anthony. Good morning.

Anthony Ramirez 1:45 Hey, good morning. I'm Anthony. I work at I work on Wormhole, BD and ops and great to be here, guys.

MrsThreshold (Ashley) 1:56 Thanks, Anthony. Hey, Peter.

Peter (Offchain Labs, Arbitrum) 1:59 Hey, thanks so much for having me. I work on the partnership team and often labs so the team behind Arbitrum really excited to be here today.

MrsThreshold (Ashley) 2:09 Thanks for joining ISE. And good morning, Brian.

Brian Mahoney 2:12 Thanks for having me on. I contributed to Threshold and drive a lot of the Business Development for tBTC.

MrsThreshold (Ashley) 2:23 Awesome, I'm gonna kick us off with a round of questions. I'm not going to direct these at anybody in particular. So if you feel like this is your domain, if you don't mind typing in. So let's start off with can we briefly introduce Arbitrum and its main features?

Peter (Offchain Labs, Arbitrum) 2:41 Sure. So Arbitrum is an optimistic roll up that's built on top of Aetherium. And the way that that's different than something like a sidechain. So for example, I used to work at tender mint and parody. sidechain has its own validator set, and you rely on the security of those validators. Whereas an optimistic roll up, post the data back to Ethereum, and that's how you have more than Ethereum grade security. So if Arbitrum goes down, you can still replay your transactions back on Aetherium. And so the amazing thing about Arbitrum is that it's able to lower the costs by about 90 to 95%. We're also working closely with the prismatic team, which we acquired on things like EIP for a for for the the president sharding work, that's going to further lower costs for for roll ups. And so anyways, right now, that what that all means is that today Arbitrum is deleting layer 2 For Ethereum today. So from a TVL perspective, it has somewhere around 5 billion in TVL, I believe it's third index trading volume and has over 1 million eath that's been bridged to the chain. So we just have, you know, a ton of teams that are building on top of Arbitrum one, which is the the optimistic roll up. And then we also have another chain called Arbitrum, Nova for gaming and social that we have teams building over there. So that's Arbitrum in in a nutshell.

MrsThreshold (Ashley) 4:15 Thanks so much, Peter. That's really exciting. Okay, so Brian, I said I wasn't going to put anybody on the spot, but tell us how, how is Arbitrum Making tBTC more accessible? What? What are the goals of the integration? What is tBTC? Was Arbitrum Taking Bitcoin everywhere?

Brian Mahoney 4:34 Yeah, that's great. Great question. So one of the things we're most excited about with from a tBTC and Threshold perspective, with the launch in Arbitrum is you know, tapping in and building on the Arbitrum chain and the existing community. It's one of the fastest growing out L2s out there. There's a reason we picked it as sort of the first partner that we would go to market with for the tBTC expansion. And you know, leveraging Wormhole as part of this integration for the bridge directly it, you know, unlocks major growth for tBTC. And, you know, the other place, the other sort of aspect of the partnership is we wanted to make sure that, you know, folks would have a place to interact with tBTC directly, once on Arbitrum. And, you know, we got in touch with the great team at balancer and decided that, hey, this would be a top place for folks to, you know, engage with tBTC as an asset and spin up a couple of different balancer pools directly when through the governance process there. And, you know, we're excited to say that we're live with tBTC, on balancer on Arbitrum, powered by Wormhole, hand, you know, bringing Bitcoin everywhere as a result.

MrsThreshold (Ashley) 5:48 Incredible MacLane I promise not to put a man on the spot, but I'm going to do unite you. I've heard you speak about this many times, told me w BTC tBTC. All the other different options? What, what are we trying to do here? Decentralization? Why is that important? Why is tBTC going to be so big? Why is it a huge opportunity? Why are we tackling this at Threshold?

MacLane Wilkison 6:18 Sure, so I mean, I think our ultimate goal for for tBTC is really to create the bridge that Bitcoin and East DeFi deserve. Obviously, like W BTC, is ubiquitous across DeFi they've built a great product. But I struggled to imagine that, you know, a centralized wrapper around Bitcoin is really like the end state of DeFi. You know, if we fast forward 510 years, and we're still all using a token tokenized Bitcoin is custody by a single for profit entity, I think that's collectively a failure case. And tBTC is essentially trying to create a more robust maximally decentralized maximally permissionless maximally censorship resistant bridge, connecting Bitcoin, which is the premier digital assets to the DeFi ecosystems on Ethereum a one on all of the the great emerging L2, L2s, like Arbitrum, as well as all the other non EVM chains that have growing DeFi ecosystems. And I think that's sort of the tenant behind I guess, our, our cross chain, so we're gonna have Bitcoin everywhere. Obviously, tBTC itself, you know, supports a bridge directly from Bitcoin to Aetherium. And because we've been able to partner with Wormhole, we've been able to sort of greatly accelerate like the, the second piece of that, which is, you know, expanding, you know, out beyond Ethereum to to Arbitrum, first and other chains. And basically anywhere where there's a thriving the DeFi ecosystem, we think tBTC should be the canonical Bitcoin representation. So that, you know, everyone who is you know, LP lending, borrowing, doing anything else with DeFi, as it relates to Bitcoin, can use an asset that I think strives to match, you know, the the, like, the ideals of Bitcoin itself.

MrsThreshold (Ashley) 8:27 Awesome, thank you, MacLane. I think Peter touched on this already, but 90% lower fee. So how does the integration with Arbitrum? And to tBTC? What are the the main benefits to taking your tBTC to Arbitrum? Peter touched on lower fees. Did you say faster transaction times, Peter, tell us the benefits one more time?