About tBTC

tBTC is an Ethereum token that’s intended to represent Bitcoin (BTC) on the Ethereum blockchain. It is not Bitcoin, but rather a separate ERC-20 token that’s designed to track Bitcoin’s value. tBTC is powered by the Keep Network. Keep Network enables users to deposit Bitcoin and redeem tokenized tBTC, which can then be used across the Ethereum ecosystem.

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Market Stats

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Additional details

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Tags

Network & Addresses

Network
Address

Ethereum

0x8dAEBADE922dF735c38C80C7eBD708Af50815fAa

Price history

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Today
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1 Day
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$66,692.05
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FAQ

tBTC is an ERC-20 token completely backed by Bitcoin and pegged to the price of Bitcoin. The platform helps Bitcoin holders take action on the Ethereum blockchain and access the decentralized finance (DeFi) ecosystem. tBTC is an open-source project backed by groups such as Keep, Summa, and the Cross-Chain Group.

Keep is Ethereum's privacy layer. “Keep" is the off-chain container for private data. In contrast, Summa provides customized interoperability solutions to companies across the blockchain ecosystem. The Cross-Chain Group is an industry resource and working group dedicated to advancing cross-chain architecture research, design, and implementation. Cross-chain refers to a technology enhancing the interconnection between blockchain networks by allowing the exchange of information and value.

Each tBTC token is fully backed and matched by one reserve BTC. Thus, every TBTC token is backed 1:1 with a BTC token. Also, tBTC is trustless and uses random beacons to select the "signers" who are responsible for the BTC deposited. Thus, one can convert TBTC to BTC and vice versa anytime without a middleman signing.

tBTC further allows users to earn yields without a middleman, reducing counterparty risk and friction. Users can integrate their tBTC with Compound, an Ethereum-based algorithmic money market protocol that allows users to earn yields or borrow assets.

However, tBTC is not a price peg to BTC; instead, it is a supply peg. That implies BTC/tBTC might not be the same in absolute terms. tBTC might trade at a slight discount or at a premium.

ETH is treated as collateral in the exchange process. ETH is a safer collateral type because of the DeFi standard, and the team working on tBTC plans to shift the ETH/BTC collateral ratio from 150% to 135% shortly after launch. tBTC is also working on new mechanisms that could lower that ratio to 40% collateral later.

Integration work is necessary to build tBTC minting and redemption into a dApp. The code is open source, enabling developers to build interfaces that match their products.

The tBTC token was launched on September 22, 2020. The alpha version of tBTC went live on May 15, 2020.

We update our tBTC to USD currency in real-time. Get the live price of tBTC on Coinbase.

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Social stats

Popularity in posts

#1223

Contributors

70

Posts

120

% About tBTC

0.014%

Articles

1

X (Twitter)

43.9% bullish

Sentiment

4.5 ★

Highlights

70 unique individuals are talking about tBTC and it is ranked #1,223 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, tBTC has an average sentiment score of 4.5 out of 5. Finally, tBTC is becoming less newsworthy, with 1 news articles published about tBTC.

On Twitter, people are mostly neutral about tBTC. There were 47.37% of tweets with bullish sentiment compared to 7.89% of tweets with a bearish sentiment about tBTC. 52.63% of tweets were neutral about tBTC. These sentiments are based on 82 tweets.

On Reddit, tBTC was mentioned in 20 Reddit posts and there were 277 comments about tBTC. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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