## What Is tBTC?

tBTC is a decentralized wrapped Bitcoin that is 1:1 backed by main-net BTC. Unlike other wrapped Bitcoins, the BTC that backs tBTC is not held by a central intermediary, but is instead held by a decentralized network of nodes using threshold cryptography. 

tBTC is trust minimized and redeemable for main-net BTC without a centralized custodian. It can be used across the entire DeFi ecosystem.

tBTC can be used as collateral, liquidity, a store of value, and can be integrated with DeFi apps across all blockchains.


As with other BTC wrappers, tBTC provides cryptocurrency traders and general users with a non-volatile BTC token, that can be used to generate yield whilst holding main-net BTC.



## Why use tBTC?


Existing solutions that bridge Bitcoin to the multi-chain ecosystem require users to send their Bitcoin to a centralized intermediary to exchange it for an Ethereum token that represents the original asset. 

This centralized model requires you to trust a third party and is open to censorship and potential fraud. This opposes Bitcoin’s core ethos of a secure and permissionless store of value.

tBTC is a truly decentralized Bitcoin bridge that provides Bitcoin holders permissionless access to DeFi.



## How does tBTC work?

tBTC replaces centralized intermediaries with a randomly selected group of node operators on the Threshold Network. This group of independent operators works together to secure deposited Bitcoin through threshold cryptography. 

A majority threshold agreement from node operators is required to mint or redeem tBTC. Node operators are constantly rotated, which protects deposits against any malicious individual or group. 

Unlike other solutions on the market, tBTC users are reliant on math, not hardware or people. 



## How Many tBTC Are There in Circulation?

tBTC (v2) Protocol launched on January 31 2023, and has a floating circulating supply, depending on the number of tBTC minted and redeemed. Minting tBTC currently requires a 0.2% fee, which is paid to the Threshold Network DAO. A full breakdown of tBTC circulating supply and mint/redemption stats can be found at https://dune.com/threshold/tbtc.



### Who created tBTC?

tBTC was created by a decentralized effort of contributors at the Threshold Network DAO, and extensively utilizes the Threshold Network’s threshold cryptography to create a secure BTC asset. tBTC is a product launched on Threshold Network, on which many other decentralized applications are being built.


Threshold Network DAO was born out of the first on-chain merger between two decentralized protocols, Keep Network and NuCypher early in 2022. The DAO has successfully operated since that time, and supports an active community of contributors that work towards building tBTC liquidity and usability.
 


### Where Can I Buy and Use tBTC?

tBTC is available for trading on a growing number of exchanges and blockchains, paired with various other assets.

tBTC can be used in a suite of DeFi applications that allow users to generate yield with their BTC in a secure manner. Please visit threshold.network for a full list of tBTC integrations to get started.

tBTC

SolFlare

Backpack

Phantom

Ethereum

Shiba Inu

Chainlink

Uniswap

UNUS SED LEO

Convex Finance

Audius

Tribe

Highstreet

Baby Doge Coin

Creditcoin

Vanar Chain

ANDY (ETH)

LEOX

pufETH

Devve

JEJE

Vitalik Smart Gas

OTCBTC Token

Jinbi Token

Bitcoin Dominica

Obitan Chain

Wrapped Bitcoin Cash

United Bitcoin

Airbloc

0xBitcoin

Super Bitcoin

XDC Network (formerly known as XinFin Network) is a hybrid (public / private) blockchain platform that combines the transparency of public blockchains with the speed and security of private networks. With the help of blockchain technology and state-of-the-art infrastructure, the project intends to provide streamlined financial services to its users.

The protocol’s open-source software uses a delegated-Proof-of-Stake (XDPoS) consensus mechanism, which facilitates fast transactions, interoperability, and cybersecurity. The network can process 2000 transactions per second (TPS), and thanks to interoperable smart contracts and Ethereum Virtual Machine (EVM) compatibility, users can more easily scale their projects.

Wrapped XDC

Wrapped Astar

BoutsPro

LemoChain

The Threshold network provides and maintains a suite of cryptographic primitives for several dApps. The network is the product of the protocol merger between the Keep Network and NuCypher, which was finalized on January 1, 2022 with the launch of the T token.