iBTC Documentation
  • Overview
  • Protocol
    • What is iBTC?
    • How iBTC Works
    • Attestor Network
    • Merchant Network
  • Security
    • Core Security Features
    • Proof of Reserves
  • 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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  1. Protocol

What is iBTC?

A Bridgeless Wrapped Bitcoin for DeFi

iBTC redefines Bitcoin in decentralized finance (BTCFi) by offering a bridgeless, trust-minimized wrapped Bitcoin solution. Unlike traditional wrapped tokens that rely on centralized custodians or vulnerable cross-chain bridges, iBTC secures BTC directly on Bitcoin Layer 1 using a 2-of-2 multisig vault system. Designed for institutional-grade security and liquidity, iBTC enables seamless DeFi access across multiple chains while ensuring transparency and user control.

  • Purpose: Unlock Bitcoin’s DeFi potential without third-party risks.

  • Core Mechanism: Self-wrapping via multisig vaults, verified by a decentralized Attestor Network.

  • Transparency: Every iBTC is 1:1 backed by BTC, auditable via Chainlink Proof of Reserve (PoR).

  • Compliance: KYB-verified merchants ensure institutional-grade standards.

Why iBTC Matters

BTCFi projects often promise high yields but falter with unsustainable models, inflated TVL, and bridge risks (e.g., Poly Network’s $612M hack). iBTC eliminates these pitfalls, offering a secure, scalable alternative that’s already gaining traction with liquidity providers like Bullish and Cumberland.

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Last updated 13 days ago