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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  • For Individuals: Swap via DEXs or CEXs
  • For Institutions: Burn via PSBT Redemption
  • Why It’s Faster
  1. Usage

Redeeming iBTC

Reclaim Your BTC with Ease

Redeeming iBTC back to BTC is a secure, streamlined process, bypassing traditional delays. Whether you’re an individual or institution, iBTC’s bridgeless design ensures fast, transparent withdrawals—30-60 minutes vs. 3-12 hours for competitors.

For Individuals: Swap via DEXs or CEXs

  • Overview: Convert iBTC to BTC on decentralized or centralized exchanges.

  • Platforms: Use Curve, Uniswap, or upcoming CEXs (e.g., OKX, Binance, data room).

Steps:

  1. Select Exchange: Choose a platform with iBTC/BTC pairs.

  2. Connect Wallet: Link your wallet (e.g., MetaMask).

  3. Swap: Input iBTC amount, confirm transaction.

  4. Receive BTC: BTC arrives in your wallet post-swap.

For Institutions: Burn via PSBT Redemption

  • Overview: Institutions redeem BTC directly through merchants or QCs, maintaining control.

Steps:

  1. Initiate Burn: Burn iBTC via the merchant’s interface, triggering a redemption event.

  2. Attestor Validation: Attestors confirm the burn, co-sign a PSBT with FROST signatures.

  3. BTC Release: Merchant receives BTC from the vault, with remainder to a new vault if partial.

  4. Completion: BTC returns to the institution’s wallet in 30-60 minutes.

Why It’s Faster

iBTC’s decentralized attestation reduces reliance on third-party processing, unlike wBTC’s BitGo delays. Ideal for institutions targeting $20M-$50M daily volume on Canton.

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Last updated 17 days ago