Jello (0xjello)

why wbtc? by 2017–2018, btc holders could only: - hold - send that’s it. no yield, no lending, no derivatives. then defi came around, but it was only on ethereum. btc needed a way in.

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that’s why wbtc was born: to unlock btc liquidity and make it interoperable with eth. out of the blues, btc holders could use their coins for: • loans • yield farming • derivatives • collateral for stablecoins

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wbtc was created in 2019 by @bitgo, @renprotocol, and @kybernetwork. it’s an erc-20 token on ethereum, fully backed 1:1 with bitcoin. (1 wbtc = 1 btc)

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how wbtc works • @bitgo holds real btc. • you deposit btc via a merchant (like @coinlist). • bitgo mints the same amount of wbtc on ethereum. example: deposit 10 btc → get 10 wbtc.

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