Wrapped Bitcoin (Optimism) (WBTC) Crypto Exchange

Wrapped Bitcoin (WBTC) is a cryptocurrency that bridges the gap between the world's most popular cryptocurrency, Bitcoin (BTC), and the decentralized finance (DeFi) ecosystem. It was launched as a collaboration between BitGo, Kyber Network, and Republic Protocol. The concept behind WBTC is to bring the liquidity, security, and stability of Bitcoin to other networks, enabling users to access the benefits of different blockchains. WBTC is created through a process called "wrapping," whereby Bitcoin is held in custody by a trusted custodian, and an equivalent amount of WBTC is minted on another network. The custodian ensures the transparency and security of the wrapped Bitcoin by conducting regular audits and maintaining a 1:1 ratio between WBTC and the underlying Bitcoin. By enabling Bitcoin holders to use their BTC in DeFi applications, WBTC unlocks new possibilities for trading, lending, and other financial activities that were previously limited to Ethereum-native assets. It allows Bitcoin holders to participate in yield farming, earn interest on their Bitcoin holdings, and access a wider range of DeFi services.