ICP Chain Fusion Hackathon
BITCOIN EDITION

The Bitcoin integration allows developers to incorporate Bitcoin into ICP canister smart contracts. ICP provides smart contract functionality to Bitcoin, which lacks a native smart contract platform. This opens up new opportunities for DeFi and dapp development. For instance, ICP smart contracts can directly hold, receive, and send BTC.

Prize:
$15,000 in ICP Developer Grant ($5k+ $10k)

ICP currently supports threshold Schnorr signing, the common signature scheme to support Runes and Ordinals transactions.

ICP canister smart contracts can generate a Taproot address and sign and transact using it.

Potential Use Cases:

• Watchtower service

• A decentralized oracle service for Discreet Log Contracts (DLCs)

• Native programmability using Threshold Schnorr as the signing authority (ex. Tap Protocol. See video)

• Decentralized inscription service

• Conditional reinscribing for gaming

• Decentralized signer to prevent mempool snipes

• BRC-20 Bridge

• Deeper integrations with Taproot Assets Metaprotocol (ex. fungible token deposit into a lightning channel)

Prizes:

• Winner 1 - $10,000 in ICP Developer Grant ($5k + $5k)

• Winner 2 - $10,000 in ICP Developer Grant ($5k + $5k)

To access and retrieve data from the Bitcoin network, the Bitcoin integration API available on the management canister provides the following methods:

bitcoin_get_utxos: Returns the unspent transaction outputs (UTXOs) of a Bitcoin address.

bitcoin_get_balance: Returns the balance of a Bitcoin address.

bitcoin_get_current_fee_percentiles: Returns the percentiles of the fees for the last 10_000 transactions. Returns the fee in millisatoshi per virtual byte.

Projects entering this track must use the Bitcoin integration API on the management canister on ICP. While they are allowed use to external APIs via HTTPS outcalls for additional data, using only an external API is not allowed.

Potential use cases include:

• Bitcoin explorer

Prizes:

$5,000 in ICP Developer Grant ($2.5k + $2.5k)

ckBTC is a multi-chain bitcoin twin, trustlessly created by chain-key cryptography and Internet Computer smart contracts that directly hold raw bitcoin.

ckBTC is similar to wrapped Bitcoin but offers enhanced security and programmability by using the chain-key cryptography by ICP. It uses ICRC1/ICRC2 token standards, the latest fungible token standards on ICP.

The canister ledger IDs required for integration are referenced here. Transaction data can be found on the IC Data Dashboard.

This bounty seeks to reward the best project that successfully integrates ckBTC.

Potential use cases include:

• Bitcoin Payment Systems: Accept BTC as a form of payment while using ckBTC in the background. Users can deposit BTC, and the app will mint ckBTC in the background.

• Points and Rewards Systems: Implement ckBTC-based points or rewards systems, where users can transfer rewards in ckBTC without needing to redeem for BTC until needed.

• Cross-Chain Bridging: Develop cross-chain bridging infrastructure, with ICP serving as a bridging layer across various chains (e.g., BTC/ETH using ckBTC/ckETH, BTC/USDC using ckBTC/ckUSDC, and BTC/PEPE using ckBTC/PEPE, other Chain Key token pools).

Prize:

$5,000 in ICP Developer Grant ($2.5k + $2.5k)