Threshold Network

Threshold Network is a decentralized cryptography service that emerged from the merger of two earlier projects, NuCypher and Keep. It provides threshold cryptography tools to the broader web3 community, meaning it helps users and applications perform sensitive operations — such as managing private keys or granting conditional access to encrypted data — without relying on any single centralized party. The intended audience is developers and protocols that need trustless cryptographic services across blockchains including Ethereum, Solana, Optimism, and Base.

Threshold cryptography works by distributing sensitive operations across a network of independent nodes, requiring a minimum number of those nodes to cooperate before any operation completes — no single node can act alone. The T token is used within this network, most notably as collateral that node operators stake to participate in the system's services, including tBTC, a decentralized Bitcoin bridge that mints a wrapped Bitcoin token backed by staked T. The protocol is active across several ecosystems and carries no recorded block time in the stored data, consistent with its design as an application layer rather than its own base-layer chain.

The stored data does not include a specific fee revenue figure for Threshold Network, so fee-based return measures used elsewhere on this site are not applicable here. What is known is that the protocol's circulating supply stands at 11,155,000,000 T tokens, which represents 100 percent of supply issued at the point of measurement, with no supply pending and a dilution overhang of 0.0 percent, meaning no additional tokens are scheduled to enter circulation beyond what is already outstanding. The fully diluted valuation equals the market capitalisation of approximately 53,519,188 USD, a direct consequence of the fully issued supply and the absence of a recorded maximum supply cap.