WBTC

MinimalGravitas

The part you're perhaps missing here with regards to oil's usefulness to society depending on a stable price is that Ethereum scaling is designed so that less ETH is required for the same amount of use. This plan was laid out in the Rollup Centric Roadmap almost 5 years ago [https://ethereum-magicians.org/t/a-rollup-centric-ethereum-roadmap/4698], and is now playing out. As an illustration, of what this looks like in reality. One common use of ETH is to pay for swapping tokens (e.g. WBTC to USDC or whatever). On Ethereum L1 this type of transaction currently costs in the region of 0.000069585274145112 ETH ($0.18): https://etherscan.io/tx/0xf7ed0fad666a52e0f8478e18ff8c544ab71848a7ba8347b761e24b358940b813 However doing the same thing through a rollup costs orders of magnitude less, e.g. 0.000000463829327457 ETH ($0.001175) on Optimism at the moment: https://optimistic.etherscan.io/tx/0x0a9fde2920729f07c074aaa9737ece4049120ac97ac74d7dc5a9fac79bdc98ec If you were to stick with the oil analogy then this would be like a car today being 100x more efficient at using petrol than before. This has allowed the use of the Ethereum ecosystem to increase rapidly. Ethereum L1 processes around 15 transactions per second, but the rollups built on top of it currently process about 200 transactions per second: https://rollup.wtf/. So yea, total utility is increasing rapidly, but the amount of the asset each individual using the ecosystem needs is reducing, so the price of ETH can go up a lot and people will still have to spend less to make their transactions. The final part of the picture, and the step that fewest people understand, is that these rollups pay the L1 for their security by buying 'blobs' of data storage, using the bundled fees of their users. The ETH spent on blobs is burned, in the same way as EIP 1559 burns L1 gas fees, when the blob supply is more than the demand (such as now) then the burn is negligible, however as usage increases above the available blobspace then the burn will increase rapidly. As more L2s grow and are used more then it won't be long before more ETH is burned in total than is issued each block, making the asset deflationary again, while keeping extremely low network fees. The two narratives are not in opposition.

RefrigeratorLow1259

Feature | BitVMX + RISC-V + Cardano | Wrapped BTC (e.g., WBTC, tBTC, renBTC) ---|---|--- **Trust Model** | Non-custodial / trust-minimized via fraud proofs | Trusted custodians or federated multisigs **Bitcoin Layer Changes?** | No (uses Taproot and existing script capabilities) | No, but relies on external chains **Scalability** | Off-chain execution, only disputes touch Bitcoin | Moderate (L2s or sidechains) **Custom Logic** | Yes, via RISC-V programs and Cardano smart contracts | Very limited **Security** | Enforced via Bitcoin script and proof validation | Dependent on custodian / bridge validator **Composability** | Integrates easily with Cardano DeFi | Limited — WBTC is mostly a static token **Censorship Resistance** | High, no centralized parties needed | Lower — central parties can freeze assets

staker1971

My method is: -i sell BTC for 5000$ to pay my bills. - Simultaneously i convert BTC in ETH for current price for 5000$ lets say 2,5 ETH. - i put 2,5 ETH in automated blue chips liquidity pools like ETH/USDC, WBTC/WETH etc through Krystal defi and vfat. - i gradually collect back my initial investment of 5000$ in WBTC, WETH, Stables etc

Somebody__Online

If I were you I would use the money to farm funding fees payed in ETH and WBTC from their respective futures markets on GMX. That way you’ll slowly build a position in ETH and BTC but keep your $4000 principal protected from market moves. But I also know what I’m doing and how to do it. It’s easier said than done.

EarningsPal

Could instead: 1. Converted BTC to WBTC 2. Lock the WBTC into a Defi lending protocol like aave 3. Buy dream can with a loan 4. Make payments on the car loan with a defi loan from aave 5. Buy additional collateral for every car payment. Ex. $50,000 car loan Make $1000 payment, buy $1000 more WBTC, repeat. He can do this for years. 1 year is $12,000 paid, $12,000 more collateral. $24k loan with $62,000 in btc growing collateral holding it up. Obviously the more cushion he starts with, the safer the position. But it’s a method to add collateral and pay for the car while holding longer. More chances for the future. The btc not sold will continue to grow. Maybe the same btc can buy two cars or three cars before time runs out. Maybe buys a car, then it buys a house.

ManBearPig9220

vaultbridge turns what would typically be idle assets in bridge contract on ethereum into real yield by routing them into curated lending strategies on ethereum. powered by **morpho**, and risk-managed by **gauntlet** and **steakhouse financial**. here’s how it works, and where the yield comes from: **how does vaultbridge work?** when users bridge assets like ETH, USDC, USDT, or WBTC to katana and opt in to vaultbridge, their L1 assets don’t sit idle in a bridge contract like other L2 bridges. they’re deployed into a low-risk curated vault strategy on morpho’s lending protocol on ethereum. * **vaults use morpho’s ERC-4626 standard**, a secure and modular framework for building and managing onchain lending strategies * **capital is lent out to high-quality liquid markets,** for example, blue-chip assets with conservative LLTV ratios, to generate sustainable base yield. not optimizing for yield here, optimizing for risk-adjusted returns. keep it conservative. the yield generated is **streamed back to katana**, where it’s used to **boost lending and LP rewards** in core defi apps. **where does the yield come from?** vaultbridge yield comes from the **underlying lending activity** on morpho vaults, specifically interest paid by borrowers on morpho. unlike yield farming or emissions-based incentives, **vaultbridge yield is organic**. it’s earned by putting capital to work in real markets. **what makes the strategies low risk?** two independent curators manage risk: 1. **gauntlet**: known for dynamic risk modeling across aave, compound, and uniswap. they bring economic simulations and scenario testing to determine safe collateral and borrowing thresholds. 2. **steakhouse financial**: experts in DAO treasury management and financial analysis. they bring a conservative approach to yield generation, prioritizing capital preservation and stable returns. they select which vaults and strategies are active based on katana’s risk appetite, which is low. we’re not chasing the highest yield. we’re chasing the best risk-adjusted yield, stable, repeatable returns using curated strategies managed by gauntlet and steakhouse. that yield flows back to katana and boosts yield on pools in core defi apps. **why this matters** vaultbridge turns passive bridge deposits into a **productive revenue engine** for katana's defi users. users get boosted rewards in defi pools from this revenue. and the chain doesn’t rely on solely on KAT emissions. this is what fuels the katana flywheel.

ManBearPig9220

**vaultbridge boosts yield by turning bridged assets into productive capital.** any chain can use [vaultbridge protocol](https://polygon.technology/blog/introducing-vaultbridge-a-new-revenue-lego-for-evm-chains), katana is just the first chain to use it. when a user bridges assets like ETH, USDC, USDT, or WBTC to katana and opts in to vaultbridge, those assets are deposited into **low-risk curated vault strategies on ethereum**, powered by [**morpho**](https://x.com/MorphoLabs) and curated by teams like [**gauntlet**](https://x.com/gauntlet_xyz) and [**steakhouse financial**](https://x.com/SteakhouseFi). the **yield generated** from those low-risk lending strategies is periodically **routed back to katana** and used to **boost yield for core defi pools** on-chain. think of it as a perpetually funded liquidity mining campaign that uses real yield rather than inflationary token emissions. Users benefit in two ways: * **vbTokens**: they receive a 1:1 representation of their bridged assets on katana (vbUSDC, vbWBTC, etc). these tokens don’t passively accrue yield (like Blast), users must use these tokens in defi to get the benefit of the vaultbridge yield. * **boosted rewards**: to earn the yield, users must deploy vbTokens into **core defi apps** on Katana (like [morpho](https://x.com/MorphoLabs), [sushi](https://x.com/SushiSwap), or [vertex](https://x.com/vertex_protocol)). the yield from vaultbridge is then distributed as **in-kind rewards**, increasing the real returns for active participants. In short: **vaultbridge channels offchain yield into onchain incentives**. rewarding users who contribute to katana’s defi liquidity and making the network more efficient and sustainable.

Somebody__Online

I pretty much only trade WBTC and ETH with leverage since all other tokens don’t have enough liquidity to facilitate the trade size in doing. I am currently short 35k ETH and 25k BTC with 1x leverage. If I crank up to like 5x that’s a 300k position and there just isn’t enough liquidity on chain outside of bitcoin and ETH to do that without paying a fortune in slippage and price impact. I’ll consider SOL, AAVE, and ARB as trade consulates with $1k or less in collateral.

BeefeyeTraitor

That’s great, and are you sure that whatever token/coin you withdrew can be sold for another currency, or swapped for some sort of WBTC, ETH, USDC, or other liquid crypto? That would be the final barrier

SquaredTheOG

Tbh doesnt even need to sell if he wanted to retire he could just get WBTC get like 10-20% loan on it and buy the houses that way. Even if prices go down during bear market his low ltv will still cover him. Or even just liquidating 10-20% would be enough really...

Coininator

Why not use DeFi like Aave? Bridge BTC to WBTC and borrow at currently 0.43%.

ExcitementVarious243

WBTC! 

Worldx22

Bitcoin. Excluding BTC? WBTC.

GarugasRevenge

Bruh ETH has much less issuance than BTC bruh. Bruh this may be a sign the triple halvening is finally shocking the supply bruh. Also this means more severe dips when Bitcoin drops. You cannot deny Bitcoin affects ethereum, most of the TVL is the WBTC bridge. Irregardless it's good news bruh, I don't like us fighting, I like us working together to find the source bruh.

MrHmuriy

Thorswap supports almost the entire list, with the exception of XRP. Though I only use EVM and SOL tokens - it is easier to keep and swap WBTC or say WDOGE in one wallet than to bother with different networks

Cryptomuscom

$BTC is still king, but things like $WBTC or Lightning Network are gaining traction. Depends on what you need—HODL, trade, or use it in DeFi. DYOR!

HSuke

Bitcoin doesn't have a DeFi layer. The closest is bridged WBTC on Ethereum. But that requires centralized bridges. What technology does Cardano have that would make it a DeFi layer for Bitcoin?

hosea_they_heysus

Step one, dollar cost average into ETH, WBTC or similar blue chip coins and deposit into AAVE. Step two, during bear markets take USDC loans against your collateral and deposit that into liquidity pools that can increase your collateral assets. Step 3, pay off your loans during the bull market using your liquidity pool income to ensure you're not liquidated. Step 4, repeat step one.

Django_McFly

> You forgot to mention that it **will** be the first coin to tap into Bitcoin liquidity for defi. Defi protocols have been taping into BTC liquidity since AT LEAST the creation in WBTC back in 2019. This is an example of what I mean. At some point in the future, Cardano *will* get to where other chains were back in 2019.

Consistent-Set-913

Me personally I post wrapped bitcoin. AAVE is eth based and I’m a btc maxi I post my collateral let’s say $10,000 worth of WBTC I am then able to borrow up to 70% of the value. I borrow tether (4-6% variable depending on network usage, I’ve seen as high as 12%) Then right on my metamask I convert my tether to more WBTC and post that as more collateral. So say I borrow $5000 tether and convert to WBTC I post back as collateral. Now I have $15,000 collateral posted and owe $5000. You never have to make a payment and only requirement is you keep your health factor above a 1.0 The more collateral you have the bigger your health factor. Let’s say just to make this easier to grasp, that btc price doubles in a year. I owe $5000+$250 interest and my stack has now grown to $30,000 I pay off the debt and sit on $24,750. My gain was $4,750 in borrowed leverage. Now do your own research and play it safe, I’m sure you’ve year of people getting liquidated cuz they take on too much debt. Be smart don’t be a degenerate.

julesjc_eth

Keep most of your BTC in your cold wallet. If you want to try some platforms, do it with just some coins you can afford losing. Right now bridging to WBTC or cbBTC and staking on ether fi or similar is the most risk / revenue according one I found (pays around 1-1.5%). I also tried the Babylon new tech, but it closed now until the new season begins

SimpleMoonFarmer

PAXG/WBTC liquidity pair.

KomorebiParticle

Bullish on USDC and WBTC even if these metrics make no sense.

noviwu97

WBTC

ecmw91

I'm so glad I am using WBTC on AAVE. I was able to pull out some funds from a flash loan to free up some debt without needing to pull out my BTC holdings. Even still, I'll HODL as much as I can and hopefully it doesn't dip so low that my holdings aren't taken up as collateral.

ThinNeighborhood2276

Interesting move by World Liberty Financial. Diversifying with ETH, WBTC, and MOVE shows confidence in both established and emerging assets.

sigh_duck

From my understanding they use a platform like AAVE to borrow against their holdings like WBTC or stETH and using the loan to short. I forget the term for this strategy.

coinfeeds-bot

tldr; World Liberty Financial (WLFI), backed by Donald Trump, has expanded its cryptocurrency portfolio with a $21.5 million investment in Ethereum (ETH), Wrapped Bitcoin (WBTC), and Movement (MOVE). This brings WLFI's total crypto investments to $336 million across nine assets. The move comes ahead of the White House Crypto Summit, which may influence U.S. crypto regulations. Despite an unrealized loss of $88 million, WLFI remains bullish on crypto, continuing to buy during market dips, signaling confidence in the sector's long-term potential. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

JayHent1664

World Liberty Financial Portfolio: - 57.22% ETH - 18.93% WBTC - 13% USDC - 3.78% USDT - 3.37% TRX - 3.69% Other Assets We are simply not bullish enough in Defi.

ShotgunMessiah90

It likely is. After steadily DCAing small amounts, WLFI suddenly bought $10M in ETH and $10M in WBTC.

ieatvegans

I don't know if this helps, but the wolf of all streets posted this on twitter:  World Liberty Financial Portfolio: - 57.22% ETH - 18.93% WBTC - 13% USDC - 3.78% USDT - 3.37% TRX - 3.69% Other Assets

otherwayup

Another thing worth considering if you don't want to cash in yet, is to swap to wrapped tokens to make use of this year's 3k CGT allowance. Eg: swap BTC for WBTC; this counts as a disposal of BTC. Then as long as you wait a month (just like shares), you can swap back again if you want/need to (which would be a disposal of WBTC).

CryptoTherapie

At the moment, due to my professional projects, I no longer have liquidity to invest in the crypto market. However, sensing an interesting dip to buy, I deposited WBTC (Ethereum) on AAVE to borrow USDC and increase my WBTC position, which I then re-deposited as collateral on AAVE. It’s important to manage your position well to have a sufficiently low liquidation price for peace of mind. A great solution to strengthen your position in these conditions: use blockchain, use DeFi.

PortalDeFi_Terry

Portal achieves trustless cross-chain transactions using **atomic swaps and BitScaler technology**. Why Bridges Are Risky: * Traditional bridges require users to lock BTC in a smart contract and receive wrapped tokens (WBTC, renBTC, etc.) in return. * This creates security risks because hackers can attack the bridge and steal the locked BTC (which has happened multiple times). * Users are forced to trust third-party custodians to hold their funds and maintain liquidity. **How Portal Does It Differently:** 1. **Atomic Swaps Instead of Bridges:** * Instead of wrapping Bitcoin, Portal swaps native Bitcoin directly for another asset using cryptographic conditions. * The trade either happens entirely or doesn’t happen at all. There is no partial or failed transaction risk. 2. **BitScaler for Cross-Chain Execution:** * Portal uses BitScaler technology to optimize cross-chain swap efficiency, making trades fast, low-cost, and decentralized. * No need for wrapped assets, vaults, or third-party multisigs. 3. **No Custody Model:** * Unlike centralized exchanges, where you must deposit BTC before trading, Portal allows trades to happen directly from user wallets. * This means you never lose control of your funds during a transaction. **Key Benefits of Portal’s Approach:** ✔ **No middlemen**. Everything happens peer-to-peer, directly between traders.✔ **No wrapped tokens**. You always receive native BTC, ETH, or other assets, not synthetic versions.✔ **Full self-custody**. Your funds never leave your control until the swap is fully executed. **Bottom Line:** Portal’s atomic swaps and BitScaler technology eliminate the need for bridges, custodians, and wrapped assets, ensuring Bitcoin can be traded in a decentralized and trustless way.

PortalDeFi_Terry

Sure! **Portal to Bitcoin is a decentralized way to trade Bitcoin across different blockchains without needing bridges, wrapped assets, or intermediaries.** **How It Works in Simple Terms:** * **No More Wrapped Bitcoin (WBTC):** When you trade BTC for ETH using traditional platforms, you often get **wrapped BTC**, which is just an IOU backed by a custodian. Portal eliminates that risk by allowing you to trade **real Bitcoin** for **real ETH** without needing a centralized bridge. * **No Custody Needed:** Portal never holds your funds. Your BTC stays in your wallet until the trade is completed. * **Faster and Cheaper than Using Exchanges:** Instead of depositing BTC into an exchange, trading it for ETH, and withdrawing it again, Portal lets you swap assets directly from your wallet just like a decentralized exchange (DEX). * **Works on Bitcoin’s Security Model:** Unlike traditional DEXs built on Ethereum, Portal works directly on Bitcoin, meaning transactions benefit from Bitcoin’s strong security model. **Why It’s Important:** Portal lets Bitcoin be used in DeFi without requiring trusted intermediaries, centralized exchanges, or synthetic versions of BTC. This means you can trade Bitcoin trustlessly, securely, and at scale.

LeonFeloni

Take a chain that you really like, and think has a good core setup. Particularly, one with other assets on-chain. Example: I've been an Algorand Gov for years now. And while the largest share of my crypto is Algorand, I also hold on chain: goBTC (that is BTC wrapped on the Algo chain), goETH, wSOL, WBTC, WETH, am steadily increasing my share of the leading dex in the ecosystem: Tinyman's governance token while actively farming more. Algorand moved to offering staking for consensus participation, with its defi scene offering a number of liquid staking tokens (Folks Finance, Tinyman). Messina.One is a leading omnichain setup, offering liquid staking options as well as bridging Eth, BTC, Polygon, Avalanche, Arbitrum , BNB, Base, and Plume. An on-chain casino has an option to stake its token and take part of being the House, and sharing 50% of its profits with stakers. Dapps like Lofty.ai offers diversification into tokenized real-estate. MeldGold offers tokenized gold and silver, and has future plans for more metals For me, Algorand is still underwater. However, if you include what I've earned in the ecosystem, I've profited pretty well * a quarter or so of my algo at this point comes directly from using defi, I earn from participating with in consensus, I earn from depositing and lending my other crypto, from lending markets and LPs. So, what do you like a lot? What can you expand into it's defi scene to earn significantly more with your investments? What's stable, reliable, decentralized, cheap, and fast?

coinfeeds-bot

tldr; World Liberty Financial (WLFI), a crypto venture linked to the Trump family, transferred over $307 million in digital assets to Coinbase Prime. The assets include 73,783 ETH worth $212 million and 553 WBTC valued at $52.7 million, among others. Such large transfers to centralized exchanges often suggest a potential sale, which can cause market volatility. Despite the transfer, WLFI retains $96.62 million in digital assets. The company clarified that the transfers were for routine treasury management, not asset liquidation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Onebadosteopathswag

I wouldn't go that far, despite Sacks and trump's coin being based off solana. WLFI has major holdings in WBTC, which is ofc eth based and is ETH based. There is some insider trading shit going on with these people. Honestly though solana is a superior crypto. transaction speed is way faster, fees are lower.

StatisticalMan

Yeah I think it is useful to track them but they shouldn't be on the main list. The same thing with wrapped coins (i.e. WETH, WBTC) and asset backed liquidity tokens (i.e. STETH).

conceiv3d-in-lib3rty

World Liberty Fi also just bought $10m worth of ETH. Not OTC, a market buy. https://imgur.com/a/caEgPbs They now own.. 66,266 $ETH ($189.4M) 646.7 $WBTC ($66.2M) 19,408 $STETH ($61.8M) 2,4M $MOVE ($1,94M) 40.72M $TRX ($10.09M) 256,315 $LINK ($6.15M) 36.5M $USDC ($36.5M) 10.9M $USDT ($10.9M)

conceiv3d-in-lib3rty

Yeah but that’s not just USDT, it’s DAI, PYUSD, WBTC, and more. And it’s just in Europe.

coinfeeds-bot

tldr; World Liberty Financial (WLF), linked to Donald Trump, has accumulated $370.4 million in crypto assets across 44 cryptocurrencies, including PEPE and USDC. This accumulation reflects a strategy to influence decentralized finance (DeFi) and aligns with Trump's vision for the U.S. to lead in cryptocurrency innovation. Key holdings include ETH, WBTC, and stETH. Tron founder Justin Sun has invested $75 million in WLF, making him the largest investor. WLF plans to acquire Tron tokens and has seen significant demand for its WLFI governance tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; World Liberty Financial, a DeFi fund associated with the Trump family, has been actively accumulating Ethereum (ETH) during market dips. Recently, the fund purchased $10 million worth of ETH, adding 3,247 ETH to its holdings, which now total 59.389 million ETH. This move follows a previous acquisition of $20 million in ETH and WBTC. The fund aims to preserve asset value while participating in the Ethereum ecosystem, despite ETH's declining dominance. World Liberty Financial's portfolio is valued at $394 million, with a focus on long-term holding and potential earnings from DeFi activities. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DreamingTooLong

If you’re swapping back-and-forth every two weeks, you can probably save on fees doing DEFI go back and forth between WBTC & USDC Coinbase as their own wrapped bitcoin called cbBTC and you can swap from that to USDC. If you’re doing a few grand back-and-forth every week, you could save a lot on fees doing something like that.

Zestyclose-Power-132

He actually has to still pay ETH gas fees since he got WBTC and not the BTC :(

MichaelAischmann

You can wrap BTC & use WBTC as collateral for a loan on AAVE.

Zarigis

You can borrow against WBTC on Aave.

bradcoops11

WBTC is now being delisted from Coinbase and I feel other major exchanges could follow

jo1long

Maybe BTC is great, I would look into WBTC, it's bound to depeg and might pop higher than BTC. Instead of ETH I would look at SOL or OP. Opinion: there are way better coins than BTC or ETH.

ReadersAreRedditors

Putting all my ERC-20/WBTC on Harmony's network

conceiv3d-in-lib3rty

BiT Global is partially owned by Justin Sun, who is now 1 of 3 multisig key holders of WBTC. I wouldn’t want anything to do with Sun connected products if I was an American crypto company. edit: They cited Coinbase listing PEPE “the racist frog” as evidence showing the lack of Coinbase’s listing standards lmaoooo. https://imgur.com/a/gdCPTPV

critiqueextension

It seems BiT Global's lawsuit against Coinbase argues that the delisting of wBTC is more about eliminating competition for their own wrapped Bitcoin product than any legitimate listing standards. They even point out that Coinbase continues to list meme coins with dubious value, which raises questions about their claims of compliance with listing standards. * [Coinbase faces $1B lawsuit over wBTC delisting](https://cointelegraph.com/news/coinbase-faces-1-billion-lawsuit-wbtc-delisting) * [BiT Global sues Coinbase over unfairly delisting wBTC ...](https://cryptobriefing.com/wbtc-delisting-lawsuit-coinbase/) * [Coinbase sued over WBTC delisting by Justin Sun-affiliated ...](https://protos.com/coinbase-sued-over-wbtc-delisting-by-justin-sun-affiliated-bit-global/) ^(Hey there, I'm not a human \(sometimes I am :\) \). I fact-check content here and on other social media sites. If you want automatic fact-checks and fight misinformation on all content you browse,) [^(check us out.)](https://critiquebrowser.app)

Aerocryptic

I've only done it with wrapped versions on Aave WBTC or BTC.B

MinimalGravitas

It costs about 3x more to send BTC over the Bitcoin network than to send ETH over Ethereum, here are the daily average fees: https://ycharts.com/indicators/ethereum_average_transaction_fee https://ycharts.com/indicators/bitcoin_average_transaction_fee In fact, it currently costs less to to send 'wrapped BTC' (WBTC) over Ethereum than over Bitcoin, here are transactions on both networks from about 5m ago: https://bitcoinexplorer.org/tx/263a12be7adefa0a99ac1ceaa1bd03aae0a574a9ce7c9dcf9c0e3f17fb89cd6b https://etherscan.io/tx/0xdc2fe01913490fcf5e594f93a644aa1480d589cc82a94865c7a76fdecc0c40b5

RandoStonian

Eh, that's where it's at for now.  I'm honestly not *that* worried about WBTC suddenly becoming unpegged at this point. The 'trick' is risk management - never put all your eggs in one basket.

Banker_dog

My understanding is that’s mostly correct. It also allows BTC to operate on Cardano defi platforms without the need for a bridge (which differentiates WBTC, from this which will be trust less and native BTC on Cardano). Ultimately it provides seamless integration of BTC (potentially using their own wallets) directly into the Cardano ecosystem taking advantage of the smart contracts found there.

MinimalGravitas

> You can call it a sidechain if you want to. It's just a type of layer 2. If sidechains are Layer 2s, then you may as well say that Ethereum is a Bitcoin layer 2, there are bridges between them (such as Coinbase's wrapped BTC product) and many times more WBTC on Ethereum than on Lightning and all of Bitcoin's sidechains combined. Sure, you could use the term L2 like that, but then it tells you nothing about the structure you're referring to. > Oh and who thinks ETH is more secure than Bitcoin. With the abandonment of PoW not in a million years. I've linked you to the research paper that quantifies this, and explained it to you. It isn't my fault if you prefer to just believe that PoW makes it more secure regardless of evidence.

SunliMin

There definitely is bridging concerns, but canonical is so safe it might as well not be a concern. However, cross-chain bridges definitely is a concern. I got burned on Agave (AAVE fork on xDai/Gnosis Chain) because of a exploit in tokens from the Omnibridge. IIRC, the bridge added a “transferAndExecute” ability early on, pre-audit, to minimize user actions. This was removed post-audit, but only applied to new tokens. So since WBTC and such excited before the fix, those tokens had the extra feature. Basically you could say “Transfer USDC to xdai AND deposit it into defi” or something in one go. Secondary, AAVE is vulnerable to reetenrancy attacks. They are aware of it, and the solution is the DAO and vetting process for getting tokens added to exchange. They essentially audit tokens and make sure they don’t have code that could be used to abuse a reentrancy attack, before they’re added as a supported token. AGAVE was not aware that some bridged tokens were pre-audit code, while some were post-audit code. They trusted post-audit code and added tokens. Ones like WBTC on xdai with this extra ability were then used to do a reentrancy attack and drain agave entirely. I say all this to say, cross-chain bridges does have risk. Canonical bridges have less, but you still need to know what you’re doing to ensure there isn’t a risk. Technically, Omnibridge wasn’t vulnerable, but it created tokens with features that lead to the fall of the chains biggest defi app at the time. One man’s feature is another man’s exploit.

coinfeeds-bot

tldr; Threshold Network has proposed a plan to further decentralize Wrapped Bitcoin (WBTC) by expanding the number of signers managing the asset through its network. This follows a previous offer to acquire WBTC for $36.4 million in T tokens. Recently, WBTC's custody shifted to a multi-signature system across the US, Singapore, and Hong Kong, moving away from BitGo's sole custody. The proposal aims to enhance decentralization while maintaining the current market structure, ultimately creating a decentralized BTC-backed token. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

coinfeeds-bot

tldr; World Liberty Financial, associated with Donald Trump, has submitted a proposal to Ethereum's DeFi platform Aave to build a crypto project. The proposal suggests launching services on Aave, offering AaveDAO 20% of protocol fees and 7% of WLFI tokens. The project aims to attract new DeFi users by providing stablecoin liquidity for ETH and WBTC. The proposal is under discussion by AaveDAO, and if approved, it will be accessible to all Aave users, including Americans. The project faces potential regulatory risks similar to other U.S.-based DeFi protocols. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

wehodlfinance

Thanks for taking the time to look into the profile and app. We're totally into Bitcoin! Waiting for native BTC DeFi :) atm there are several projects working on it. Yea WBTC isn't BTC, that's for sure but not everyone has the privilege to just HODL, we want to HODL but also need funds for paying the bills and we believe our need is probably a need that many other people encounter so we opened what we developed for our needs to other people as well. You can take a deeper look into our app and see it's all about helping people to avoid bad decisions and trying to protect them from getting liquidated.

Much-Pay9295

I am just resent started on crypto and what I have noticed is that there are 3 Bitcoins in the market that are part in value. I have observed since I started in May. And those 3 Bitcoins stay in the same range of value. Sometimes the Bitcoin is down and WBTC is up and the BTC the same right now they are at the same price margin.

lorem_epsom_dollar

Need some help 1. Can I move USDC from ethereum network and buy Bitcoin(lightning?) 2. If I want to primarily invest in Bitcoin, can I buy WBTC on Ethereum? Thanks. I just have some USDC on Ethereum and I need to move it all to BTC

coinfeeds-bot

tldr; Tron founder Justin Sun criticized Coinbase for launching Wrapped Bitcoin (cbBTC) without Proof of Reserves, calling it a "dark day for Bitcoin." Sun, associated with cbBTC's competitor WBTC, emphasized the need for transparency and questioned Coinbase's regulatory approach. He warned that cbBTC could be vulnerable to government subpoenas and compared the situation to the FTX collapse. Sun highlighted the importance of public treasury wallets and expressed concerns about potential centralization in the crypto industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Yabutsk

It makes sense and is an inevitable efficiency to bridge the tokens, I'm just not exactly enthused at Justin Sun's involvement in WBTC

coinfeeds-bot

tldr; Crypto investor James Fickle has added $43.7 million to his debt, bringing his total debt to $132 million on the Aave platform. Fickle borrowed over 3,061 WBTC and exchanged it for 56,445 ETH, betting on Ether's price movement against Bitcoin. However, market volatility led to significant losses. Despite these setbacks, Fickle still holds nearly $400 million in crypto assets, with his largest holdings in AETHWSTETH and Ether. The ETH/BTC ratio has fallen due to declining demand for Ether compared to Bitcoin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

px403

Isn't that where WBTC has always been? Makes sense to me.

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kirtash93

Quite ironic to see WBTC in ETH xD

Junglebook3

Agree. I also think cbBTC is safer than WBTC and all other alternatives.

coinfeeds-bot

tldr; A crypto whale with a $26.47 million position in Wrapped Bitcoin (WBTC) on the DeFi platform Compound narrowly avoided liquidation after Bitcoin's price drop. Lookonchain reported the whale's health rate was as low as 1.07 with a liquidation price of $50,429. This whale had previously been liquidated three times in 2022, losing a total of $32.82 million. Other addresses also sold Bitcoin as prices fell, while 836,000 addresses bought 402,800 BTC worth $21 billion, potentially to sell at breakeven. Galaxy Digital deposited 1,458 BTC into Coinbase Prime, possibly for trading or custody. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

biba8163

Can't short ETH against BTC without holding WBTC which leaves you open to liquidations, hacks and WBTC 3rd party risk. It's not something I want to do or you do for long time horizons. Plus, most of my BTC is timelocked in 0.25 pieces far into the future. I can't withdraw from timelocked addresses, only deposit to them.

coinfeeds-bot

tldr; 21.co, the parent company of 21Shares, has launched a Wrapped Bitcoin product, 21BTC, on the Ethereum blockchain in collaboration with Flow Traders. This product aims to provide a secure alternative to existing wrapped Bitcoin options by storing the underlying Bitcoin in cold storage, thus eliminating the need for a bridge. The launch comes amid challenges faced by WBTC, the most popular Bitcoin wrapper, particularly due to concerns over its management and control. 21BTC seeks to offer stringent asset management practices and institutional-grade security to users exploring decentralized applications on Ethereum. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

persfin311

I'm in the UK and it looks like CGT is likely to increase in the near future. Possibly from 20% to 40%. I'm tempted to sell BTC to realise gains and pay CGT at 20% but would want to buy BTC back after 30 days (any earlier and different tax rules apply). In an ideal world, WBTC would be the best alternative as it's pegged to the BTC price so I'd be guaranteed to get the same amount of BTC back, but I am wary of the risk. Does anyone have any other suggestions or opinions on the risk level of holding WBTC for 30 days?

persfin311

I'm in the UK and it looks like CGT is likely to increase in the near future. Possibly from 20% to 40%. I'm tempted to sell BTC to realise gains and pay CGT at 20% but would want to buy BTC back after 30 days (any aerlier and different tax rules apply). In an ideal world, WBTC would be the best alternative as it's pegged to the BTC price so I'd be guaranteed to get the same amount of BTC back, but I am wary of the risk. Does anyone have any other suggestions or opinions on the risk level of hoding WBTC for 30 days?

coinfeeds-bot

tldr; MacLane Wilkison has proposed a merger between Threshold Network's tBTC and WBTC (Wrapped Bitcoin). This merger would involve Threshold Network becoming the sole 'merchant' on the WBTC network and transferring the management of the bitcoins backing WBTC to tBTC. Concerns were raised about the proposal potentially giving BitGo, a key player in WBTC, more control over the Threshold Network. The proposal suggests minting over $36 million worth of new tokens, which could dilute existing tokens' value. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

EarningsPal

If you’re willing to trust WBTC you can use Defi for loans

dirdirsaliba

Wait untill they hear about WBTC

coinfeeds-bot

tldr; An unidentified whale has rapidly accumulated over $118 million worth of Wrapped Bitcoin (WBTC), purchasing a total of 1,953 WBTC at an average price of $58,853 per token. This significant acquisition, including a notable transaction of 347 WBTC within just 12 hours on August 19, coincides with controversies surrounding the ownership and management of WBTC. Amidst this, BitGo announced plans to transfer WBTC control to a joint venture, sparking debates and leading DeFi protocols like MakerDAO and Aave to consider alternatives and risk mitigation strategies. Additionally, Coinbase hinted at launching its own wrapped Bitcoin token, cbBTC, adding to the market dynamics. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Important_Addition

DeFi is always the answer but seeing the mess that is unfolding with WBTC I don’t think people will be eager to join.

Every_Hunt_160

Didn’t they just come out with this WBTC lending a few days ago?

Tiny_Artichoke_6665

Regulation for me should stop creation of synthetic asset without a 100% of reserve of that asset. Like a Wrapped BTC should be baked by 100% BTC reserve of WBTC emitted. I am referring to the new CBBTC emission.

2LostFlamingos

People deposit WBTC into lending protocols like aave or beefy to earn yield. I’m not saying it’s the best idea, but it’s a thing that exists.

2LostFlamingos

Of course I saw that. You’re talking 2 different things here. I’ve acknowledged the counterparty risk. I’m not saying it’s a great idea. I understand the purpose and the risk with WBTC. You’ll need to explain how cbBTC is the same as fiat though. I can’t see that.

ImSoHungryRightMao

Can someone ELI5 what wrapped BTC is? Is it basically like Tether is to USD as WBTC is to BTC?

2LostFlamingos

To compete with / provide alternative to WBTC

2LostFlamingos

How do you figure this? It competes with WBTC. Backed 1:1 with bitcoin. Used other chains.

2LostFlamingos

It competes and provides an alternative to WBTC. Choices are good things. Allows bitcoin on other chains. Backed 1:1.

2LostFlamingos

It’s WBTC with a different counterparty risk. Choices are good things.

coinfeeds-bot

tldr; Coinbase is teasing the launch of a new tokenized bitcoin product named cbBTC, which is expected to allow for holding bitcoin on Ethereum and Layer 2 chains, enhancing liquidity for users and within Base, the blockchain incubated by Coinbase. This product, backed 1:1 with actual bitcoin, could compete with Bitgo’s wrapped bitcoin (WBTC), the current largest tokenized BTC product. The launch date for cbBTC is hinted to be soon, following Coinbase's announcement and Base lead Jesse Pollak's supportive comments on building a bitcoin economy on Base. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

HSuke

The article explains it pretty well, not no one is reading it. It's to complete against BitGo's WBTC, which is coming under ownership of Justin Sun and likely no longer trustworthy. WBTC is needed for DeFi since naive Bitcoin doesn't support DeFi.

HSuke

Yeah. I feel like a lot of people here don't realize that Wrapped Bitcoin is needed for DeFi on other networks since DeFi doesn't exist on the Bitcoin network. A huge chunk of Bitcoin price comes from WBTC liquidity pools.

HSuke

Uhh. It's just wrapped Bitcoin. Bitcoin network has no DeFi or utility, so you need to wrap it on other networks to do any DeFi. Coinbase is launching it since Bitgo's WBTC is becoming questionable.

Isabela_Grace

Because WBTC gives you options you wouldn’t have with just BTC. Since WBTC is changing hands and can be fraudulent they’re adding an alternative. Research my friend.

biba8163

Start? Bitgo has currently has 150,000 BTC wrapped and issued in Ethereum. This also is bridged across other networks. Bitgo are about to partner with Justin Sun. I think Maker and Aave are going to do away with WBTC. Like it or not, there is a market demand for Bitcoin in other chains. BTC after all is the most desired asset in crypto. I'd rather have Coinbase issuing this than Justin Sun involved.

Logical_Lemming

The context here is just a few days ago, BitGo announced that they'll be transferring control of WBTC to a joint venture partially owned by Justin Sun/Tron ecosystem. Of course a lot of people think this is not so great, so it's a perfect time for Coinbase to launch a competitor.

uni-twit

It’s amazing that the BTC treasury that underlie WBTC are being moved to a company [partially controlled](https://protos.com/justin-sun-has-99-problems-and-wtbc-is-two-of-them/) by Justin Sun.

sweetsimplechode

Yes. BTC is bitcoin. WBTC is a centralized ERC-20 shitcoin. WBTC is created when someone gives BitGo real bitcoin and then BitGo mints the centralized ERC-20 shitcoin on Ethereum. BitGo promises that you can return your WBTC to them and redeem it for real bitcoin.

DearHair4635

So going with 113-139k by 2025. It’s a wide range but if on chain BTC ZKP was actually proved… than… going to see a massive move from ETH—>BTC. It will be interesting to see the WBTC price if its depegs as ETH reduces and liquidity moves from place to place.  BTC is the Boomer Transfer Coin, into crypto. They kept it as simple as they can huh 

noviwu97

Yield on BTC is non existent, but with WBTC you can put in aave, borrow ETH/stable then use those to get yield