WBTC: A year in review

Quick Take

  • Wrapped Bitcoin (WBTC), an Ethereum-based token pegged to Bitcoin, has failed to see significant momentum over the past 12 months. 
  • WBTC’s lack of traction within money-market Compound may bode ill for alternative ‘Bitcoin-on-Ethereum’ implementations, which many believe will see adoption as a collateral type for the MakerDAO credit facility. 
Wrapped Bitcoin (WBTC) is an Ethereum-based token pegged to Bitcoin. Like popular stablecoins USDC and TUSD, WBTC is asset-backed, with each outstanding token supported by a requisite number of BTC. WBTC issuance and redemption are managed by WBTC DAO members, which include popular Open Finance projects, Compound, Kyber, Maker, among others.  Source: The Block, Dune […]

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