Bitcoin (Avalanche)

BTC.b

BTC.b is a DeFi-compatible, native version of Bitcoin on the Avalanche chain. It is backed 1:1 by BTC locked on the Bitcoin chain in the Avalanche bridge protocol.

Risk Rating
Best
$66,837.00
0.13%
Summary
What we like
Enables users to earn yield on their idle BTC holdings across various DeFi apps on Avalanche. Provides access to BTC’s deep liquidity and large volume.
What we like less
BTC transferred through the Avalanche bridge requires more trust assumptions as the bridge depends on external validators.
What it means for you
BTC.b is a great way to gain exposure to BTC directly on Avalanche and also an easy way to put your BTC to work for you in DeFi.
Information
Blockchain
  • Avalanche
Key Metrics
  • Market Cap: $234.8M
  • Fully Diluted Valluation: $234.8M
  • FDV / MC: 1
  • Ranking inside Exponential (excluding stables): #48
  • Circulating Supply: 3,513
  • Total Supply: 3,513
  • Volume (24H): $5.9M
  • ATH: $74,554.00 (03/14/2024)
  • ATL: $7,806.11 (03/03/2023)
Risk Assessment
Best
Asset Strength

BTC.b is a low-cap, fully collateralized asset. This asset is exposed to the underlying risks of Avalanche bridge, a protocol rated as Watch out.

Asset Tokenomics

BTC.b has a fixed supply. BTC.b is a DeFi-compatible, native version of Bitcoin on the Avalanche chain. It is backed 1:1 by BTC locked on the Bitcoin chain in the Avalanche bridge protocol.

Asset Volatility

BTC.b is highly correlated to the overall market.

Dependencies

Avalanche Bridge

Things to know about BTC.b

Who invented BTCB?

BTC.b launched on Avalanche in June 2022 backed by AVA Labs. BTC.b was launched to provide users a way to bridge native BTC and gain exposure to Avalanche's DeFi ecosystem.

How does BTCB work?

BTC.b is a fully asset-backed token that was created as a direct competitor to WBTC with limited counterparty risk as custody of the underlying BTC is performed in a decentralized manner through advanced cryptography. BTC.b can be used across Avalanche's DeFi ecosystem in market making and lending platforms to generate additional yield.

How secure is BTCB?

BTC.b does not have the same level of decentralization or security as BTC since it is dependant on the Avalanche bridge smart contracts and bridge design. Nonetheless, BTC.b can be minted permissionlessly through the bridge and does not have any reliance on centralized entities like WBTC.

BTC.b Pools
Benqi BTC Lending
0.1%
Yield
$18M
TVL
Risk
C
Protocol
Benqi
Chain
Avalanche