Bitcoin has proven itself as a store of value. But to earn yield on their Bitcoin, users have to first send it to a centralized custodian. This is extremely risky, as over $40Bn has been lost to date due to custodial hacks and failures.

iBTC is a safer wrapped Bitcoin that utilizes Discreet Log Contracts (DLCs) to provide a theft-proof bridge for Bitcoin to other chains without centralizing or pooling assets. We enable Bitcoin to seamlessly integrate into other chains, facilitating various DeFi yield generation activities, such as staking, lending, borrowing, liquidity farming, and trading.

Currently only 2% of Bitcoin is utilized. Wrapping will unlock the remaining 98%, making over $1 Trillion in Bitcoin liquidity available for lending on Ethereum and other blockchains.