DeFiChain Bitcoin

dBTC

dBTC is a wrapped version of BTC that is compatible with the DeFiChain ecosystem. Every dBTC is backed by 1 BTC locked on DeFiChain.

Risk Rating
Best
Summary
What we like
Provides easy on-ramp and off-ramp to convert your BTC into a DeFiChain-compatible version that is backed 1:1 by underlying reserves.
What we like less
dBTC is backed by underlying BTC reserves that are held in custody with Cake DeFi (through BitGo), which increases centralization risks.
What it means for you
dBTC provides you price exposure to BTC and can also be used in the DeFiChain DEX to earn trading fees.
Information
Blockchain
  • DeFiChain
Info
  • Asset Type: DST
Key Metrics
Risk Assessment
Best
Asset Strength

dBTC is a low-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of DeFiChain DEX, a protocol rated as Watch out.

Asset Tokenomics

dBTC has an uncapped supply but has inflation control or burn mechanisms in place.

Asset Volatility

dBTC is highly correlated to the overall market.

Dependencies

DeFiChain DEX

Things to know about dBTC

Who invented dBTC?

dBTC is a tokenized version of BTC on DeFiChain and backed by BTC collateral held with Cake DeFi (via BitGo).

How does dBTC work?

dBTC is created and maintained by a centralized entity, Cake DeFi. Users can mint dBTC by depositing BTC into Cake DeFi and withdrawing to their wallet address on DeFiChain.

How secure is dBTC?

dBTC will never have the same level of decentralization or security as BTC since it relies on trusting people and organizations to manage the system instead of automated smart contracts.

dBTC Pools
DeFiChain BTC-DFI Market Making
10.8%
Yield
$23M
TVL
Risk
F
Chain
DeFiChain