Citing Blockworks, startup Rift is launching a peer-to-peer bitcoin-to-EVM trading protocol that uses trusted execution environments (TEEs) to validate trades. The protocol holds native bitcoin in a hardware enclave for a 20-minute window while verifying the settlement of the other leg of the trade. CEO Samee Siddiqui explained that the TEE acts as an escrow, releasing funds only after sufficient block confirmations. The approach eliminates the need for multisigs, synthetic tokens, or proof-of-stake chains. Rift charges 10 bps taker fees and 0 maker fees, aiming to offer a more capital-efficient and faster alternative to existing cross-chain solutions like THORChain. The startup is targeting integration with wallets and DEX aggregators rather than building a consumer-facing interface.
Rift Launches Bitcoin-to-EVM Trading Protocol Using TEEs
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