WBTC Specifications

Type

TOKEN

Algorithm

Ethash

Protocol

PoW

Start Date

27/11/2018

Max Supply

Circ. Supply

129,318

Website

Explorer

Social Media

Info

Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin on the Ethereum blockchain, providing users with access to decentralized finance (DeFi) while retaining the value of BTC. WBTC allows users to perform token swaps and interact with Ethereum-based dApps, bridging the gap between the Bitcoin and Ethereum ecosystems.

Market Impact

WBTC has transformed the utility of Bitcoin by allowing it to integrate seamlessly with Ethereum-based DeFi platforms. Its role in facilitating token swaps has boosted liquidity for decentralized protocols. As a widely adopted asset on exchanges, WBTC has bridged two of the largest blockchain ecosystems, enabling broader use cases for Bitcoin holders and driving DeFi innovation.

History

WBTC was launched in 2019 as a collaborative effort between BitGo, Kyber Network and Ren to bring Bitcoin's liquidity to Ethereum. By tokenizing Bitcoin, WBTC enabled BTC holders to use their assets in DeFi applications without selling them. Over the years, WBTC has been adopted for various decentralized exchanges and has become a cornerstone in liquidity pools and lending protocols.

Features

Bitcoin Liquidity on Ethereum
WBTC brings Bitcoin's value to Ethereum, enabling users to interact with DeFi applications without leaving the Ethereum ecosystem.
Efficient Token Swaps
WBTC allows seamless token swaps on Ethereum, providing liquidity for decentralized trading and financial operations.
Trusted Collateralization
WBTC is fully backed by Bitcoin reserves, ensuring transparency and trust in exchanges and lending protocols.

Website

Explorer

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*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.