Bridge your liquidity on Ethereum to Bitcoin, and back. USDT, WBTC, ETH, and PAXG. Mainnet live at opalbtc.app
- Tweets 120
- Following 52
- Followers 167
- Likes 252
Opal bridge is closing.
The reception to our product has been practically null. We understand the likely reasons and those are such that we cannot fix.
We were told by many that we would have to be publicly doxxed for this to have a shot. We can't make this compromise. Our privacy and that of our families is non-negotiable.
We also have information of a new ERC20/OP20 bridge coming soon against which we stand no chance.
So, we're closing the bridge and stopping investing into a product unfit for this market.
We appreciate everyone who ever had a kind word for us or gave us constructive feedback.
We are considering whether Opal will continue in some form as a different type of product.
We wish everyone on OP_NET all the best and hope to see this ecosystem flourish.
The Opal team
3
19
892
opal retweeted
7/ SLOHM is one of the most advanced DeFi protocols ever deployed directly on Bitcoin L1, introducing treasury backing, bonding, liquid staking, and protocol-owned liquidity in a fully native environment.
Programmable finance on Bitcoin is here.
Welcome to SLOHM.
1
18
1,014
opal retweeted
1/ SLOHM Mainnet is officially live.
The first decentralized treasury-backed reserve protocol on Bitcoin L1, powered by @opnetbtc.
app.slohm.fi
18
30
85
13,552
opal retweeted
$SLOHM Testnet snapshot has officially been taken. The leaderboard is now frozen.
The wallet checker has been updated with allocations for the Top 100 testnet participants:
checker.slohm.fi/testnet-air…
All users who reported valid bugs during testnet have also received bonus allocations, regardless of leaderboard position.
In addition, the Top 100 participants will each receive a Satlantis Triton OP404.
Thank you to everyone who stress tested, broke things, reported issues and helped shape the future of Bitcoin L1 DeFi.
Mainnet is coming.
$SLOHM Wallet Checker is now live.
Check your IBO Round 1 and Round 2 contributions and token allocations:
checker.slohm.fi
SLOHM Mainnet is getting closer.
18
12
48
7,495
opal retweeted
$SLOHM smart contract audits by @peckshield have now been completed.
All findings identified during the audit process have been reviewed and resolved as we finalize preparations for mainnet and TGE.
Audit report:
slohm.fi/audit.pdf
12
23
66
3,332
opal retweeted
$SLOHM Wallet Checker is now live.
Check your IBO Round 1 and Round 2 contributions and token allocations:
checker.slohm.fi
SLOHM Mainnet is getting closer.
22
18
82
8,618
opal retweeted
The IBO has been extended for an additional day until 23 April, 10PM UTC.
Over $238,000 has been contributed in Round 2 so far.
SLOHM is about to change Bitcoin DeFi forever.
presale.slohm.fi
SLOHM Presale IBO Round 2 is live.
Contribute with MOTO or BTC/ETH/SOL.
Final round before mainnet.
presale.slohm.fi
2
5
32
2,430
Presale update:
Refunds were sent to the temporary OP_NET interaction addresses used during purchase instead of regular wallet addresses. These temporary interaction addresses are owned by the presale participants so, funds have always been safe.
Refund Recovery is now live at
presale.opalbtc.app
Connect the same OP_WALLET address used to participate in the presale, enter your BTC address, and recover your refund. The OP_WALLET prompt will say something to the effect of "Cancel transaction." Approve and you will get your refunds when the transaction is confirmed onchain.
We apologize for any inconvenience and appreciate your patience as we rolled out this fix.
1
2
255
.@chiuhui1688 apologies for the misunderstanding and the block. Your refund is safe. A refund claim will be live on the presale website later today. We are announcing soon what happened and how participants will recover their funds. Once again, sincere apologies.
1
1
231
Refund receipts:
opscan.org/transactions/dbcd…
opscan.org/transactions/58a8…
opscan.org/transactions/564b…
The OPAL presale ended with participation too low for a minimally viable launch.
All participants will be refunded in the next couple hours.
The OPAL token plans are on hold until further notice.
The Opal bridge is unaffected and will continue operational.
Thanks to the participants for their trust in us.
1
4
359
The OPAL presale ended with participation too low for a minimally viable launch.
All participants will be refunded in the next couple hours.
The OPAL token plans are on hold until further notice.
The Opal bridge is unaffected and will continue operational.
Thanks to the participants for their trust in us.
8
677
opal retweeted
SLOHM Testnet Update v3.
- Native $BTC bonds now live alongside $MOTO
- We killed the bond bot, claims are now instant via signed vouchers
- Bond positions are now NFTs: own it, verify it, trade it
- Gas costs cut 75%+
- Major security and internal audit fixes
- Smoother UI, clearer transactions, better reliability
Mainnet getting closer. Get involved with the incentivized testnet if you haven't already:
testnet.slohm.fi
6
14
49
2,753
Gm. Our presale didn't have the reception we expected on its first day but that's OK. It's still open until block 945500.
Needless to say, if it's not filled to a minimally viable degree, all participants will be refunded.
Secure your spot in the first stablecoin-paired token on Bitcoin!
presale.opalbtc.app
2
5
306
The OPAL presale is live at
presale.opalbtc.app
until block 945500, likely sometime early Friday morning.
Once trading is live, farm OPAL with:
OPAL/opUSDT,
OPAL/opWETH,
MOTO/opUSDT,
MOTO/opWETH
LP tokens. Also single-sided staking:
opUSDT,
BTC (Proof-of-HODL),
OPAL.
Secure your spot in the first stablecoin-paired token on @motoswap!
1
2
12
814
Blocks came in a little faster than expected. The presale starts in 10 blocks!
The OPAL token presale will be live on block 945,000 (expected in the early morning of Tuesday 14th, North American time) and until block 945,500 (Friday afternoon, expected) at
presale.opalbtc.app
12,000,000 tokens out of a maximum supply of 100,000,000 will be available for purchase for a price of 25 sats per token. That means a hard cap of 3 BTC. Max per wallet is 1,000,000 tokens for 0.25 BTC commited.
Funds raised will be converted to USDT and bridged via the Opal bridge onto Bitcoin/OP_NET and used to pair with 8,000,000 tokens. That puts the starting trading price at roughly 37 sats per token and a market cap of roughly 530,000 USD when trading begins (calculated for BTC at 71,000 USD). For reference, the presale will be held at a market cap of roughly 350,000 USD.
Once trading begins, the Opal Mines will open on @motoswap. The Opal Mines are expected to distribute 30,000,000 tokens over approximately three months to stakers of: OPAL/opUSDT, OPAL/opWETH, MOTO/opUSDT, and MOTO/opWETH LP tokens. Also, to single-sided stakers of OPAL, opUSDT, and BTC via Motoswap's Proof-of-HODL.
Of the remaining supply, 10,000,000 are reserved for the team and future integrations. The 40,000,000 remaining are reserved for OPAL holders to decide via a yet-to-be-implemented governance structure. Possible uses include an airdrop for Opal bridge users or further liquidity farming stages.
If and when Opal bridge revenue becomes substantial, it is possible to consider a revenue-share model with OPAL holders, subject to further study of the technical and legal aspects of such a model.
With all that said, we are excited to take this step and incentivize the growth of stablecoin and other bridged assets in OP_NET. We are firm believers in SlowFi and want to contribute to the success of it, right here on Bitcoin with OP_NET. See you in block 945,000.
The Opal team.
6
357
The SlowFi thesis is exactly the kind of research this space needs.
Bitcoin's friction isn't a limitation, it's a structural advantage for DeFi that faster chains can't replicate.
Appreciate @dl_research putting the data behind what we've been building toward.
For the first time, fully expressive smart contracts run directly on Bitcoin L1. No bridging, no wrapped tokens, no voodoo.
@opnetbtc introduces a complete DeFi stack for the most liquid asset in crypto, powered by the SlowFi thesis:
dlnews.com/research/internal…
5
9
63
4,689