Bitcoin Support

Bitcoin support is in our radar from the beginning. Thanks to Internet Computer's Native Bitcoin integration (opens in a new tab) and Chain-Key ECDSA (opens in a new tab), we are able to support Bitcoin in a trustless way.

If you look closer at the code in BeamFi Protocol, you will find Bitcoin related code because of the inheritance from Content Fly codebase.

However, due to usability issues, we didn't formally support it in the BeamFi app.

One of the issues was it requires users to have a Bitcoin wallet to send and receive Bitcoin.

Another way to provide Bitcoin support is to use ckBTC (opens in a new tab) which is compliant to ICRC-1 token standard (opens in a new tab) and is supported by most of the IC ecocystem wallets. Most importantly, it is NOT a bridged token. It is a safe option to use with great usability.

We are looking forward to supporting ckBTC in BeamFi Protocol and BeamFi app in the future while also keeping the current protocol support for Native Bitcoin.