Wrapped Bitcoin (WBTC) Cambio
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What is Wrapped Bitcoin?
Wrapped Bitcoin (WBTC) is an ERC-20 token initiated by BitGo to provide more liquidity to the Ethereum ecosystem. It is backed 1:1 with Bitcoin, and it claims to be transparent, 100% verifiable and led by the community. It is powered by more than 46 partners.
The token was launched in January 2020, making Bitcoin available on the DeFi market. Wrapped Bitcoin exchange gives Bitcoin holders access to the instruments of Defi such as lending, yield farming, staking, and many more.
The wall between Bitcoin and Ethereum was a long-standing problem for the free flow of liquidity between the blockchains. WBTC offers a decent solution, with a market cap of more than $500 million in September 2020 - just 9 months after launch.
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