dBTC is a wrapped version of BTC that is compatible with the DeFiChain ecosystem. Every dBTC is backed by 1 BTC locked on DeFiChain.
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 Risky. The asset has an uncapped supply but has inflation control or burn mechanisms in place.
dBTC is highly correlated to the overall market.
dBTC is a tokenized version of BTC on DeFiChain and backed by BTC collateral held with Cake DeFi (via BitGo).
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.
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.