What is WBTC

1. Project Introduction
Wrapped Bitcoin (WBTC) is an ERC-20 token backed 1:1 by Bitcoin (BTC), enabling Bitcoin to be used on the Ethereum blockchain with enhanced speed, transparency, and security. WBTC adopts a federated governance model maintained by multiple institutions and only charges standard blockchain transaction fees. Its ERC-20 compatibility allows seamless integration with DEXs, wallets, and dApps, greatly increasing BTC’s liquidity and usability in DeFi.
Summary: Before WBTC, Bitcoin could only be used in finance via centralized platforms. WBTC bridges BTC to Ethereum, enabling decentralized, efficient trading. Its federated model and ERC-20 standard enable broad adoption and high liquidity.
2. Team & Investment Info
Team:
Launched in January 2019 by Kyber Network, REN (formerly Republic Protocol), and BitGo.
BitGo handles off-chain custody and legal infrastructure.
Kyber manages smart contracts and ecosystem growth.
At launch, Kyber and Republic Protocol were initial merchants facilitating BTC-WBTC swaps.
On August 11, 2024, BitGo announced a joint venture with BiT Global to manage WBTC operations using the same multi-signature and cold storage security practices since 2019. The transition will take 60 days.
3. Social Media URLs
X: https://x.com/WrappedBTC
4. Token Info
Token Symbol: WBTC
Total Supply: 147,004.69
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599
Token Distribution: 100% circulated
5. Related Links
Official Website: https://wbtc.network/
GitHub: https://github.com/WrappedBTC/bitcoin-token-smart-contracts
White Paper: https://www.wbtc.network/assets/wrapped-tokens-whitepaper.pdf