Bifrost Still Dey Build Bitcoin-Cardano Bridge After Treasury Vote No Pass

Bifrost still dey under active development after one Treasury withdrawal request for ₳12,332,031 no pass Cardano governance. The action expire on August 2 with 33.77% DRep support, wey no reach the 67% wey dem require. FluidTokens don confirm say testnet work and existing Project Catalyst commitments still dey go on.

Bifrost Dey Move Forward After Treasury Vote No Work

Bifrost na trust-minimized bridge wey FluidTokens and Lantr dey build to connect Bitcoin liquidity with Cardano applications. The design allow make Bitcoin lock for the Bitcoin network and make Cardano fit represent am as native asset to use across compatible applications.

The Treasury proposal wey fail be to finance one nine-month Phase 1 wey go cover bridge hardening, independent security audits, formal verification, penetration testing and preparation for controlled mainnet deployment.

Intersect record the action as expired with 33.77% DRep support, against the 67% wey dem require. The Constitutional Committee register six Yes votes, no No votes and one Abstain, but since DRep threshold no reach, no Treasury funds comot.

After the vote, FluidTokens talk say the project go still dey active while the team gather feedback from SPOs, DReps and the wider Cardano community. As of August 17, dem never submit any replacement Treasury withdrawal action or revised funding request.

Bitcoin-to-Cardano Bridge Still Active for Testnet

Bifrost separately receive ₳739,000 through Project Catalyst Fund 14 to develop the Bitcoin-Cardano bridge. Dem don complete three out of six milestones, with about ₳563,560 don distribute and ₳175,440 remain.

The current environment dey connect Bitcoin Testnet4 with Cardano Preprod.

Permissionless Watchtowers dey monitor confirmed Bitcoin state and dey provide proofs to validate for Cardano. Cardano stake pool operators suppose participate for one stake-weighted threshold-signature model wey dem go use authorize Bitcoin withdrawals.

The test flow allow make people deposit Bitcoin and represent am for Cardano as native asset, including the fBTC and newer fSAT denominations, before dem redeem am back go Bitcoin.

Bifrost still be testnet infrastructure and e no dey custody real mainnet Bitcoin for now.

Development still change part of the bridge cryptographic architecture. Bitcoin transaction inclusion proofs don move from the original zero-knowledge approach to more efficient Merkle inclusion and exclusion proofs, while zero-knowledge components still remain for parts of the system wey dem design to prove malicious SPO behavior.

Mainnet Transition Need New Funding Route

The Treasury proposal wey expire bin dey designed to finance the work wey go move Bifrost pass the functional test environment.

Phase 1 include external audits, formal verification, extra bridge hardening and one controlled private mainnet deployment before public rollout later.

The remaining Catalyst grant dey support the existing development milestones, but e no cover the full security and deployment program wey dem put inside the ₳12.33 million Treasury request.

Bifrost no get any dedicated bridge token wey dey finance the development. The proposed longer-term model instead dey rely on bridge fees to support operations, with one indicative structure wey fit distribute surplus fees between participating SPOs and the Cardano Treasury. That model bin dey part of the expired proposal and e never get on-chain approval.

The Catalyst-funded testnet work still fit complete, but the security audits, formal verification and production deployment wey dem need to secure real Bitcoin no get the Treasury funding wey dem propose for Phase 1 again.