Wrapped Bitcoin (WBTC) is a unique cryptocurrency that combines the valuation of Bitcoin with the versatility of Ethereum. Launched in January 2019, WBTC is an ERC-20 token on the Ethereum blockchain that represents Bitcoin. Each WBTC is backed 1:1 with Bitcoin, meaning that its value is directly pegged to the value of Bitcoin. The primary purpose of WBTC is to bring Bitcoin’s liquidity to the Ethereum ecosystem.By wrapping Bitcoin into an ERC-20 token, it allows Bitcoin to be used directly in Ethereum’s decentralized finance (DeFi) ecosystem. This includes lending, staking, and yield farming platforms, among others.
WBTC is created through a process called 'wrapping'. This involves locking up Bitcoin in a specific contract and then minting an equivalent amount of WBTC. The Bitcoin is held by a custodian, currently BitGo, and can be redeemed for WBTC at any time.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Wrapped Bitcoin (WBTC) and review the project details below.
What is the allocation for Wrapped Bitcoin (WBTC)?
WBTC does not have an initial allocation.
What is the supply schedule for Wrapped Bitcoin (WBTC)?
Wrapped Bitcoin (WBTC) does not have a specific supply schedule like Bitcoin. It is an ERC-20 token on the Ethereum blockchain that represents Bitcoin. Each WBTC is backed 1:1 with Bitcoin.
The supply of WBTC increases or decreases based on the demand for it. When someone wants more WBTC, they can send Bitcoin to the WBTC custodian, who then mints an equivalent amount of WBTC. Conversely, if someone wants to redeem their WBTC for Bitcoin, the custodian burns the WBTC and sends them the equivalent amount of Bitcoin. So, the supply of WBTC is not pre-determined or scheduled, but rather it is dynamic and changes based on the market demand.
To view real-time updates on token information, you can visit https://etherscan.io/token/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599
Wrapped Bitcoin (WBTC) is a unique cryptocurrency that combines the valuation of Bitcoin with the versatility of Ethereum. Launched in January 2019, WBTC is an ERC-20 token on the Ethereum blockchain that represents Bitcoin. Each WBTC is backed 1:1 with Bitcoin, meaning that its value is directly pegged to the value of Bitcoin. The primary purpose of WBTC is to bring Bitcoin’s liquidity to the Ethereum ecosystem.By wrapping Bitcoin into an ERC-20 token, it allows Bitcoin to be used directly in Ethereum’s decentralized finance (DeFi) ecosystem. This includes lending, staking, and yield farming platforms, among others.
WBTC is created through a process called 'wrapping'. This involves locking up Bitcoin in a specific contract and then minting an equivalent amount of WBTC. The Bitcoin is held by a custodian, currently BitGo, and can be redeemed for WBTC at any time.
Above are only for introduction, not intended as investment advice.