Proof of Reserves
Real-Time Transparency with Chainlink PoR
Last updated
Real-Time Transparency with Chainlink PoR
Last updated
iBTC’s Proof of Reserve (PoR) system, powered by Chainlink, ensures every iBTC token is fully backed by BTC on Bitcoin Layer 1. This real-time, on-chain verification eliminates the smoke-and-mirrors TVL inflation seen in competitors (e.g., Solv), offering investors and users unshakeable confidence.
Process: Chainlink oracles aggregate BTC vault data, comparing it to iBTC supply across supported chains. Attestors cross-validate to prevent discrepancies.
Frequency: Updates occur per epoch (e.g., every 12 hours), ensuring continuous monitoring.
Example: If 1,500 iBTC are in circulation, PoR confirms 1,500 BTC are locked in multisig vaults.
Arbitrum:
Base:
Note: Feeds are chain-specific; check docs.ibtc.network/security/por for updates on additional chains.
Data Aggregation: Chainlink nodes fetch vault addresses (e.g., bc1q...) and balance snapshots, signed by attestors using FROST.
Dispute Resolution: If a mismatch occurs (e.g., >0.1% deviation), attestors trigger a review, halting minting until resolved.
Security: PoR resists oracle manipulation with decentralized node consensus, a step beyond single-feed systems.
Trust: Verifiable 1:1 backing eliminates rehypothecation risks.
Compliance: Meets institutional standards for reserve auditing.
Scalability: Supports iBTC’s multi-chain growth (e.g., XRPL, StarkNet) without compromising integrity.
While competitors inflate TVL with unstaked assets, iBTC’s PoR provides a transparent, auditable backbone. This aligns with our $750M TVL target, ensuring investors see real value as adoption grows with partners like Bullish and Cumberland.