iBTC Network Documentation
  • Overview
  • Protocol
    • What is iBTC?
    • How iBTC Works
    • Attestor Network
    • Merchant Network
  • Security
    • Core Security Features
    • Proof of Reserves
    • Audit Reports
  • Yield & Rewards
    • Yield Opportunities
    • iBTC Rewards Program
  • Usage
    • Getting iBTC
    • Redeeming iBTC
  • Ecosystem
    • Supported Chains
    • Comparisons
    • Contract Addresses
  • Community & Support
    • FAQs
    • Contact Us
    • Glossary
  • Team
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On this page
  • AMM (Automated Market Maker)
  • dApp (Decentralized Application)
  • Liquidity Pool
  • LP (Liquidity Provider)
  • Minting
  • Node
  • RPC (Remote Procedure Call)
  • Total Value Locked (TVL)
  • Validator
  • Wrapped Token
  • Yield Farming
  • Zero-Knowledge Proof (ZKP)
  1. Community & Support

Glossary

Decode BTCFi with iBTC’s Glossary

New to DeFi or BTC-Fi? Our glossary explains key terms to help you navigate iBTC’s ecosystem, from technical concepts to DeFi basics. Let’s break down the jargon!

AMM (Automated Market Maker)

A decentralized exchange (DEX) protocol using mathematical formulas to price assets in liquidity pools, enabling token swaps without order books (e.g., Curve for iBTC swaps).

dApp (Decentralized Application)

An application running on a blockchain, not a centralized server. Examples include Uniswap, Aave, and iBTC’s minting interface.

Liquidity Pool

A smart contract pool of tokens (e.g., iBTC/USDC) for DEX swaps. Users earn fees by providing liquidity (e.g., on Uniswap).

LP (Liquidity Provider)

A user supplying tokens to a liquidity pool, earning fees from swaps. iBTC LPs like Bullish enhance market depth.

Minting

Creating new tokens. For iBTC, minting converts BTC into iBTC via multisig vaults on Layer 1.

Node

A computer validating transactions in a blockchain network. iBTC’s Attestor Network nodes secure minting.

RPC (Remote Procedure Call)

A protocol for blockchain interaction. Wallets like MetaMask use RPCs to connect to Ethereum for iBTC swaps.

Total Value Locked (TVL)

The total cryptocurrency locked in a DeFi protocol.

Validator

A Proof-of-Stake (PoS) participant verifying transactions. iBTC uses attestors, not validators, for BTC-backed security.

Wrapped Token

A token representing another asset (e.g., iBTC for BTC). iBTC’s decentralized design outshines wBTC.

Yield Farming

Staking or lending assets in DeFi to earn rewards. iBTC users farm via Symbiotic or Aave.

Zero-Knowledge Proof (ZKP)

A cryptographic method proving information without revealing it. StarkNet’s ZK-rollups enhance iBTC scalability.

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Last updated 2 months ago