FAQs
Your iBTC Questions, Answered
Last updated
Your iBTC Questions, Answered
Last updated
New to iBTC or looking for technical clarity? Our FAQs cover everything from general concepts to regulatory and operational details, ensuring you have the answers to thrive in BTCFi. Let’s dive into the most common questions.
iBTC is a secure, decentralized wrapped Bitcoin solution for institutions and individuals. It enables trust-minimized DeFi access across multiple chains without centralized custodians or bridges. Using PSBTs (Partially Signed Bitcoin Transactions) and Chainlink Proof of Reserve (PoR), iBTC ensures transparency and 1:1 BTC backing.
Institutions & Merchants: Self-wrap BTC into iBTC via multisig vaults, minting on chains like Ethereum or XRPL.
Individuals: Swap BTC or stablecoins for iBTC on DEXs (e.g., Curve, Uniswap).
Process: Lock BTC, attestors verify, mint iBTC, redeem via burn.
Trust-Minimized: No centralized custodians, unlike wBTC’s BitGo reliance.
Transparency: On-chain PoR verification, not third-party audits.
Multi-Chain: Ethereum, Arbitrum, XRPL—the only wrapped BTC on XRPL.
iBTC unlocks DeFi strategies like staking (Symbiotic), lending (Aave), and liquidity provision (Curve). Yields are user-driven, not token-inflated, ensuring sustainability. Contact for institutional yield strategies.
iBTC is a decentralized protocol and doesn’t hold user BTC. Merchants and institutions must comply with their jurisdiction’s regulations (e.g., KYB for merchants). iBTC’s trust-minimized model aligns with compliance needs.
Yes, merchants undergo Know Your Business (KYB) checks via Fractl to ensure network integrity and compliance. Retail users face no KYC for swaps.
No, iBTC is a commodity-backed asset, as BTC is recognized as a commodity by regulatory bodies like the CFTC. It functions as a utility token, not a security.
iBTC’s trust-minimized custody lets institutions retain BTC control. Tools like Chainlink PoR and KYB onboarding ensure transparency and regulatory adherence.
iBTC is backed by BTC in 2-of-2 multisig vaults on Layer 1, with Chainlink PoR verifying reserves in real-time. Attestors ensure no over-minting.
iBTC minimizes risks by using PSBTs for minting, avoiding Bitcoin-side smart contracts. Ethereum contracts (e.g., AttestorManager) are audited regularly, with health monitoring to catch anomalies.
Support: Contact for tailored onboarding.