WBTC Wrapped Bitcoin

Blockchain agnostic protocol and decentralized oracle provider Chainlink will now be used by crypto custodian service BitGo to provide verifiable proof of the latter’s $1 billion worth of Wrapped Bitcoin in storage, as per a release. WBTC's $1 billion+ in Bitcoin will now gain additional security using #Chainlink's Proof of Reserve capability. We're thrilled to […]

A proposal by Alameda Research last week to increase the collateral for Wrapped Bitcoin (WBTC) to 40 percent was passed today after a governance poll on Compound Labs. After implementation, users can use the ERC20 token backed 1:1 with Bitcoin to borrow other assets on the Compound platform. WBTC confirmed the development early on July […]

Robert Leshner, the founder of Compound, has voted against the latest proposal to increase the WBTC collateral factor on the platform from 0 to 65 percent. Leshner defended his decision by saying collateral in WBTC was currently too risky due to low liquidity and a high possibility of a technical flaw that could wipe out […]

The total amount of Wrapped Bitcoin (WBTC) locked in the Kyber Network had almost tripled in a single day, DeFi Pulse reported. The sudden increase in WBTC reserves could have been a reaction to the news that the DeFi protocol Compound has added WBTC to its offerings. WBTC sees its activity triple on the Kyber […]