WBTC.wh on Moonbeam is backed 1:1 by WBTC locked on the Ethereum chain in the Portal (Wormhole) Bridge. WBTC is a DeFi-compatible version of Bitcoin that is backed 1:1 by BTC custodied by BitGo.
WBTC.wh is a mid-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Portal (Wormhole) bridge, a protocol rated as Watch out.
WBTC.wh has a fixed supply.