What Is Threshold (T)?
Threshold Network (T) is the on-chain merger between two existing networks, i.e., NU and KEEP. The platform is the only decentralized bridging protocol and is audited by the well-versed companies in the field. The Threshold Network protects privacy on public blockchains.
The ThresholdDAO has three significant bodies: Token Holder DAO, Staker DAO, and the Elected Council. Each of these holds the other two accountable, similar to the system of checks and balances found in most constitutional governments. They also have different responsibilities that are embedded in the governance structure.
The existing NU and KEEP stakers cannot use the vending machine contract until their stake is unlocked and becomes liquid. Instead, they are granted Threshold through a special staking adapter. Once the T staking contract is deployed, the following steps for existing stakers are shared. For NU stakers, it is optional and is not required to run worker nodes until further instructions on T staking are shared.
The Threshold Network utilizes a cryptographic method called the Threshold system to ensure users have complete control over their digital assets. The way it works is that the secret information is encrypted using the public key, and the private key to unlock this information is shared among several users. Each user has a key, and a certain number of users must participate in the cryptographic protocol in order to unlock the secret without revealing their share of the key.
Migrating incentives from KEEP to T has several benefits. First, the T-ETH reward is an economic incentive for LPs to convert liquidity into T and increase demand, generating strong initial liquidity for the native token. Liquidity Provider Tokens or LP Tokens are tokens issued to liquidity providers on a decentralized exchange (DEX) operating on an Automated Market Maker (AMM) protocol. At the same time, they increased the yield on Threshold's Protocol Owned Liquidity in the Curve pool, thereby diversifying the network's funding and income. Ultimately, these incentives market Threshold Network to a new community and recruit stakers.
History of Threshold (T):
David Nuñez is the CTO at NuCypher and is an integral part of the Threshold Network.
