Nomic DAO Foundation Launches Bitcoin-Backed Token on Berachain

According to Odaily, the Nomic DAO Foundation, the development team behind Nomic Network, has announced the launch of a Bitcoin-backed token, nBTC, on the Ethereum-compatible L1 network Berachain. Previously, Nomic had upgraded Ethereum to make nBTC natively available as an ERC token on Ethereum and deployable on EVM-compatible chains. The team stated that this integration allows users to directly deposit BTC to obtain nBTC, bringing significant Bitcoin liquidity into Berachain's ecosystem. Berachain operates on a unique proof-of-liquidity consensus model. This development is expected to enhance Bitcoin's capabilities within Berachain's growing ecosystem, providing developers with the functionality to integrate nBTC into DeFi protocols and build BTC-supported applications without relying on centralized intermediaries.