The Spiderchain multisig system introduced by Botanix enables fast and permissionless withdrawals back to Bitcoin, directly addressing long-standing criticisms of wrapped Bitcoin models on Ethereum.

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That design choice directly addresses longstanding criticisms of wrapped bitcoin models on Ethereum, which depend on either centralized custodians to process redemptions, opaque validator sets, or multi-day unbonding periods. Botanix’s rotating multisig aims to make these risks transparent, economically secure, and Bitcoin-native, in the sense that you can exit to Bitcoin permissionlessly.

For users, the Spiderchain peg offers a crucial promise: fast exit back to Bitcoin itself, according to Willem Schroé, CEO and co-Founder of Botanix Labs