Wrapped Bitcoin (WBTC) 质押 高达4% APY

关于质押 Wrapped Bitcoin (WBTC) 的常见问题

What is Wrapped Bitcoin (WBTC) and how does it work?

Wrapped Bitcoin (WBTC) is an ERC-20 token on Ethereum that represents Bitcoin 1:1. Each WBTC is backed by a real BTC held in reserve by trusted custodians, with a transparent audit process to verify the reserves. By wrapping BTC, holders gain access to Ethereum’s DeFi ecosystem, enabling activities such as lending, borrowing, and liquidity provision without moving BTC off-chain. To mint WBTC, you deposit BTC with a custodian and a decentralized process issues the corresponding WBTC on Ethereum. Conversely, you can redeem WBTC for actual BTC. This bridge between Bitcoin and Ethereum expands liquidity and interoperability across blockchains.

What are the main use cases for WBTC in DeFi and trading?

WBTC enables Bitcoin holders to participate in Ethereum-based DeFi without selling their BTC. Common use cases include: providing liquidity to decentralized exchanges (DEXs) and automated market makers (AMMs) to earn fees; borrowing and lending on DeFi protocols to unlock liquidity while keeping exposure to BTC; collateral for loans on lending platforms; and yield farming or staking strategies that require ERC-20 assets. WBTC also enables fast, on-chain settlement for Bitcoin-backed positions and can be traded on many centralized and decentralized venues with the familiar value of BTC.

How is the WBTC supply determined and audited?

WBTC maintains a 1:1 peg to Bitcoin, with each WBTC minted when BTC is deposited and custody-proven. The minting and burning process is governed by merchants and custodians who lock BTC in reserve and issue WBTC on Ethereum. Independent attestations and transparent reserve audits are typically published by the WBTC DAO and custodians, ensuring public visibility of the backing. In practice, users should look for recent audit reports and on-chain proofs to confirm that the circulating WBTC supply matches the BTC held in reserve. Maintaining the peg relies on robust reserve management and surveillance against counterparty risk.

What are the risks of holding or using WBTC?

Key risks include counterparty risk and reserve risk (if BTC reserves don't fully back all minted WBTC), smart contract risk on Ethereum (including failures or vulnerabilities in the ERC-20 contract or DeFi protocols), and liquidity risk (especially for large withdrawals or during network congestion). There is also regulatory risk surrounding custody and on-chain tokenized assets. To mitigate these, users should monitor reserve proofs, prefer reputable custodians and auditors, diversify across platforms, and keep up with governance and protocol updates from the WBTC ecosystem.

How can I redeem WBTC for actual BTC, and what fees are involved?

To redeem WBTC for BTC, you initiate a burn of WBTC on a supported platform or via a custodian service, which triggers the release of the equivalent BTC from reserve custody to your Bitcoin address. Fees typically include a small mint/burn fee charged by the platform and standard network fees for BTC transfers. Fees and redemption times vary by custodian and network congestion. Always verify the redemption path (which platform to use, the counterparty, and estimated timing) and review the latest fee schedule before initiating a burn followed by a withdrawal to BTC.