Project highlights
This project is first working implementation of non-custodial Bitcoin staking, using real native BTC, Lightning Network payment channels, and Internet Computer canisters without bridges. Users stake BTC, earn rewards from routing in Lightning channel, and receive stBTC on Ethereum, enabling Bitcoin in DeFi without losing trustlessness.
Web3 advantages
Our project is novel from the perspective of decentralization, so the problematic and solution is next.
Problem:
Bitcoin today is the most valuable crypto asset – yet it is economically passive.
Users are forced to choose between security and capital efficiency. As a result, BTC is held, not used. It has become what economists call a “store-of-value asset” or “asset of expectation” – something people accumulate in hopes of future gains, but rarely deploy into real economic activity.
At the same time, Ethereum-based DeFi is thriving, but limited in diversity. Over 75% of LSDeFi is tied to ETH-based LSTs, with minimal exposure to non-ETH staking assets. Bitcoin is effectively disconnected from this economy.
Solution:
Tricorn introduces a new paradigm:
The first working implementation of non-custodial Bitcoin staking, using real native BTC, Lightning Network payment channels, and Internet Computer canisters.
We chose Lightning Network because it is the only true Layer 2 for Bitcoin – it inherits Bitcoin’s security, requires no separate consensus, and enables instant, trustless, and non-custodial interaction.
Users stake native BTC, earn real routing rewards, and receive a rebasing token, stBTC, on Ethereum – fully composable with existing DeFi.
In essence, we convert Bitcoin from a dormant “asset of expectation” into an active participant in DeFi – without compromising on trustlessness or sovereignty.
How is it built
We chose to build on the Internet Computer because it allows us to create fully on-chain applications without relying on traditional web infrastructure like centralized cloud services.
Key technologies that is used for developing:
- written in Golang LN service manager;
- written in Rust backend for canister;
- communication between services with http-outcalls in IC;
- communication between other canisters via inter-canister calls;
- implement REST api for backend canister to make it possible for LN service and future frontend to communicate with main backend canister.
Overall our simplified project diagram looks like this:
The key components are the following:
- LN manager that holds connection with Lightning node;
- staking protocol in canisters implementation that connects all;
- ethereum connector that communicates with deployed ETH smart contract.
To sum up, we wanted to build distributed staking protocol that is as little dependent on centralized services.
Monetization
We can say that there are over 1 million BTC currently idle in wallets.
If even 1% is staked through Tricorn, it represents a ~$600M TVL opportunity.
This is a massive untapped market for Bitcoin-based yield, and Tricorn is pioneering access to it — natively and trustlessly.
Status of the project
- Made the main logic for storing user information.
- Created a REST API for communication.
- Aligned LN requests for usage in the code canister backend.
- Developed tests to verify functionality.
- Demonstrated that the BTC staking scheme is valid.
Resources
Actually by now our repository is private, so we can’t share link on it, but with futher improvements and releases we can share link with you.
Future Plans
Our future plans for this project are:
- develop frontend for convenient usage;
- further expand connectors with other networks (i.e. for staking BTC not only on ETH, for example on Solana);
- improve ETH smart contracts;
- reduce time waiting for response & further improve code.
Made by Boosty Labs 