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: Merchants undergo vetting, including KYB verification, to meet 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 gaining traction with liquidity providers like Bullish and Cumberland. iBTC’s merchant model is transitioning to enhanced vetting criteria, currently under technical due diligence, to further align with institutional needs.