What is Wrapped Bitcoin (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