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Bitcoin News Update: Rift Introduces 20-Minute Risk Window for Quicker and More Affordable Bitcoin Swaps

Bitcoin News Update: Rift Introduces 20-Minute Risk Window for Quicker and More Affordable Bitcoin Swaps

Bitget-RWA2025/11/12 07:36
By:Bitget-RWA

- Rift, a blockchain startup, launched a TEE-based protocol for Bitcoin-EVM swaps, eliminating multisig wallets and synthetic tokens. - The platform charges 10 bps taker fees, undercutting Coinbase's 40–60 bps, while using hardware enclaves to secure 20-minute swap windows. - Unlike zero-knowledge solutions, Rift's TEEs simplify auditing and reduce capital requirements by validating transactions in secure enclaves. - Targeting DEX aggregators and wallets, Rift aims to streamline on-chain Bitcoin trading wi

Rift, a blockchain company, has introduced a peer-to-peer trading protocol that allows direct swaps between Bitcoin and Ethereum Virtual Machine (EVM) assets by utilizing trusted execution environments (TEEs). This positions Rift as a more capital-efficient option compared to current cross-chain solutions. The platform imposes a 10 basis point fee for takers and no fee for makers, using hardware enclaves to securely hold native

for up to 20 minutes while confirming the completion of the corresponding trade, according to a . CEO Samee Siddiqui highlighted that this system removes the need for multisig wallets, synthetic assets, or proof-of-stake blockchains, instead leveraging the TEE as an escrow, as outlined in a .

The protocol changes the conventional trust structure by processing transactions inside a secure enclave, only releasing funds after enough block confirmations are detected, as explained in a

. This method reduces potential vulnerabilities and lowers the need for locked capital, setting it apart from approaches like THORChain’s RUNE-backed AMM or RenBTC’s synthetic token model, according to the . Siddiqui admitted there is a risk during the 20-minute holding period—“If the machine fails, assets within that window could be lost”—but believes this is a worthwhile compromise for quicker, less expensive, and more capital-efficient swaps, as noted in the .

Bitcoin News Update: Rift Introduces 20-Minute Risk Window for Quicker and More Affordable Bitcoin Swaps image 0
Rift’s fee model, with a 10 bps taker charge, is significantly lower than the 40–60 bps commonly found on platforms like Coinbase, as mentioned in the . The company’s emphasis on backend integration, rather than building consumer-facing products, further sets it apart. Siddiqui described plans to integrate with existing wallets and DEX aggregators, focusing on maximizing liquidity efficiency and using assets like cbBTC for routing on the Ethereum side, as reported in the . This “API-first” strategy is designed to embed Rift’s protocol into high-traffic swap platforms, eliminating the need for a dedicated frontend, according to a .

The Bitcoin-EVM interoperability space is competitive, with players like

Network and Near Intents already providing trustless options, as referenced in the . However, Rift’s reliance on TEEs instead of zero-knowledge proofs offers more flexibility and makes auditing simpler, according to Siddiqui, as stated in the . The team previously considered a zero-knowledge BTC light client but switched to TEEs for their practicality, as detailed in the .

By focusing on DEX aggregators and wallet integrations, Rift seeks to make on-chain Bitcoin trading more seamless without introducing new layer-1 chains or wrapped tokens, as mentioned in the

. Siddiqui’s long-term vision is for decentralized exchanges to eventually replace centralized exchanges, a shift he sees as essential for the future of the crypto industry, as described in the .

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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