What is WBTC

Learned by 821 usersPublished on 2024.03.29Last updated on 2025.05.13

103,499.03

+0.01%

  • Last Price103,499.03
  • Market Cap13.35B
  • All-Time Low3,330.11
  • Circulating Supply129.01K
  • Turnover (24h)170.89M
  • All-Time High111,556.69
  • Total Supply129.01K
  • Fully Diluted Market Cap13.35B

Note: The project description is sourced from official materials provided by the project team. However, it is important to note that these materials may be outdated, contain errors, or omit certain details. The provided content is for reference purposes only and should not be considered investment advice. HTX does not assume any liability for any direct or indirect losses incurred as a result of relying on this information.

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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

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