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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