iBTC Network 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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On this page
  • For Individuals: Swap on DEXs
  • Step-by-Step Guide:
  • For Institutions: Self-Wrap BTC as a Merchant
  • Step-by-Step Guide:
  • For Institutions: Swap via a Select Merchant
  • Step-by-Step Guide:
  1. Usage

Getting iBTC

Your Path to iBTC: Simple and Secure

iBTC opens the door to Bitcoin DeFi for everyone—individuals can swap on decentralized exchanges (DEXs), while institutions can self-wrap BTC with trust-minimized control. Here’s how to get started, tailored to your needs.

For Individuals: Swap on DEXs

  • Overview: Acquire iBTC effortlessly via popular DEXs, leveraging deep liquidity pools.

  • Supported Platforms:

    • Curve: Largest iBTC pool, ideal for stable swaps

    • Uniswap: Swap with ETH, USDC, or other assets.

    • 1inch: Aggregates liquidity for optimal rates.

Step-by-Step Guide:

  1. Choose a DEX: Select Curve, Uniswap, or 1inch based on liquidity needs.

  2. Connect Wallet: Use MetaMask, Trust Wallet, Ledger, or Trezor; ensure ETH for gas fees.

  3. Swap for iBTC: Select your token (e.g., ETH), input iBTC amount, and confirm.

  4. Verify: Check your wallet—1 iBTC reflects 1 BTC backing via Chainlink PoR.

  • Technical Detail: Smart contracts (e.g., Uniswap V3) handle swaps, with iBTC’s ERC20 compatibility ensuring seamless integration.

  • Tip: Monitor gas costs on Ethereum; use Arbitrum for lower fees.

For Institutions: Self-Wrap BTC as a Merchant

  • Overview: Institutions can become iBTC merchants to self-wrap BTC, maintaining full control via a 2-of-2 multisig vault.

  • Requirements: Minimum 50 BTC holding; KYB verification via Fractl; contact sales@dlc.link for onboarding.

Step-by-Step Guide:

  1. Complete KYB: Pass Fractl’s Know Your Business verification to join the merchant network.

  2. Deposit BTC: Lock BTC in a multisig vault on Bitcoin Layer 1, co-signed by you and the Attestor Network.

  3. Mint iBTC: Attestors verify the deposit using FROST, minting iBTC on your chosen chain (e.g., Ethereum, XRPL).

  4. Deploy: Use iBTC in DeFi or institutional markets (e.g., lending on Aave, OTC trading).

For Institutions: Swap via a Select Merchant

  • Overview: Institutions can partner with an existing KYB-verified merchant in the iBTC network to swap BTC or other assets into iBTC without self-minting.

  • Requirements: Minimum 50 BTC holding; contact sales@dlc.link or Telegram (@akibalogh) for merchant allocation.

Step-by-Step Guide:

  1. Choose Merchant: Select from our network of trusted merchants.

  2. Coordinate Swap: Provide BTC or assets to the merchant, who handles the minting process on your behalf.

  3. Receive iBTC: Merchant deposits BTC into a multisig vault, mints iBTC, and transfers it to your wallet on the desired chain.

  4. Verify: Confirm iBTC receipt, backed 1:1 by BTC via Chainlink PoR.

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Last updated 17 days ago