Proof of Reserves
Real-Time Transparency with Chainlink PoR
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.
How It Works
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.
Supported Feeds
Note: Feeds are chain-specific; check docs.ibtc.network/security/por for updates on additional chains.
Technical Details
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.
Benefits for Users
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.
Why PoR Sets iBTC Apart
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.