iBTC Network IBTC Price

What is iBTC Network (IBTC)?

Launched in 2024, dlcBTC is a decentralized wrapped Bitcoin that aims to bring the security and control of Bitcoin to the decentralized finance (DeFi) ecosystem. Unlike traditional wrapped Bitcoin tokens, dlcBTC ensures that merchants—specifically institutions holding more than 10 BTC—maintain full ownership of their assets throughout the holding process.

How Does dlcBTC Work?

Merchants can mint dlcBTC by locking their Bitcoin in a secure, self-custodial manner using Discreet Log Contracts (DLCs). This method allows them to tap into DeFi opportunities on platforms like Ethereum, Arbitrum, Base, and other EVM-compatible chains, all while keeping complete control over their Bitcoin.

Once minted, all users can utilize dlcBTC in various DeFi activities such as staking, lending, borrowing, liquidity farming, and trading. This enables users to benefit from enhanced security and seamless cross-chain functionality.

Unique Features of dlcBTC

• Self-Custody for Merchants: Merchants keep full control of their Bitcoin, reducing risks associated with third-party custodians and centralized bridges.
• Theft-Proof Mechanism: The design of DLCs ensures that locked Bitcoin can only be returned to the original depositor, even if the system is compromised.
• Bitcoin Security: Transactions are secured by the full hashrate of the Bitcoin network, providing robust protection.
• Composable DeFi Integration: dlcBTC can be easily integrated into various DeFi applications, maximizing the use of Bitcoin holdings.
• Transparency: All transactions and the status of locked Bitcoin are visible and verifiable on the blockchain.
• Fully Automated: The system is automated, leading to faster minting times—3 to 10 times faster than traditional wrapped Bitcoin (wBTC).
• Lower Fees: dlcBTC can offer fees that are at least 25% cheaper than wBTC due to the lack of vault fees and other overhead.
• Chainlink CCIP Integration: It uses Chainlink's Cross-Chain Interoperability Protocol for secure cross-chain transfers.

Supply of dlcBTC Tokens

As a wrapped token, the supply of dlcBTC is flexible and adjusts based on the demand for wrapping or unwrapping Bitcoin. The number of dlcBTC tokens in circulation matches the amount of Bitcoin locked in DLCs, maintaining a strict 1:1 peg with Bitcoin.

Founders of dlcBTC

• Aki Balogh, Co-founder & CEO: Aki is an experienced entrepreneur passionate about decentralized technologies. He co-founded MarketMuse and has advised on Bitcoin wallets, bringing extensive blockchain and AI knowledge to dlcBTC.
• Jesse Eisenberg, Co-founder & CTO: Jesse is a skilled software developer with a strong background in Web3 platforms. His experience at companies like Pivotal Labs and Twitter positions him well to lead the technology behind dlcBTC.

Where to Buy dlcBTC

You can't purchase dlcBTC directly; instead, you can acquire it by swapping on decentralized exchanges (DEXs). Currently, it is available on platforms like Curve, Uniswap, and Balancer, with plans for expansion to more exchanges.

Current Investors

dlcBTC is backed by several notable investors, including OKX Ventures, ABCDE, Waterdrip Capital, Foresight Ventures, and Animoca Ventures, showcasing strong confidence in its potential to transform how Bitcoin interacts with DeFi.

What is unique about iBTC Network (IBTC)?

dlcBTC stands out for its self-custody feature, allowing merchants to retain full control over their Bitcoin while securely accessing DeFi opportunities. Its theft-proof mechanism, Bitcoin-native security, and faster minting times compared to traditional wrapped Bitcoin further enhance its appeal in the decentralized finance ecosystem.

Who are the founders of iBTC Network (IBTC)?

dlcBTC was co-founded by Aki Balogh, a seasoned entrepreneur with extensive experience in decentralized technologies, and Jesse Eisenberg, a skilled software developer with a strong background in Web3 platforms and engineering.

Who are the backers/investors of iBTC Network (IBTC)?

dlcBTC is backed by prominent investors, including OKX Ventures, ABCDE, Waterdrip Capital, Foresight Ventures, and Animoca Ventures, demonstrating significant confidence in its innovative approach to bridging Bitcoin with DeFi.

Where can I buy iBTC Network (IBTC)?

 Uniswap V3 (Arbitrum One), Curve (Ethereum), Curve (Arbitrum)