Unit Bitcoin UBTC Price

What is Unit Bitcoin (UBTC)?

Unit Bitcoin ($UBTC) is a tokenized asset native to the Hyperliquid Layer-1 blockchain, a decentralized perpetual futures trading platform launched in 2023, designed to integrate Bitcoin’s value into Web3 ecosystems. Pegged 1:1 to Bitcoin (BTC) through a network of custodial merchants, $UBTC operates as an ERC-20-compatible token, enabling seamless participation in decentralized finance (DeFi) across Hyperliquid’s high-performance environment and other supported chains like Base, Polygon, and Arbitrum. 

Unlike native BTC, $UBTC unlocks liquidity for yield farming, liquid staking, and trading on decentralized exchanges (DEXs) such as HyperSwap V3, where it pairs with assets like WHYPE. The token is minted when users deposit BTC into secure reserves, with underlying assets held by trusted custodians to ensure full backing. $UBTC holders can stake their tokens to earn rewards through Hyperliquid’s ecosystem, including access to liquid staking pools that generate competitive annual percentage yields (APYs) by leveraging Bitcoin’s stability. 

The Hyperliquid network, with its HyperBFT consensus, supports near-instant transactions and low fees, making $UBTC ideal for traders and developers building DeFi applications. Community governance plays a role, as $UBTC holders can influence protocol upgrades and reward distribution through decentralized mechanisms. The ecosystem’s transparency is enhanced by real-time reserve audits, addressing trust concerns common in wrapped assets. Beyond Hyperliquid, $UBTC’s cross-chain capabilities, facilitated by protocols like LayerZero, allow it to interact with broader DeFi markets, from lending platforms to NFT marketplaces.

The project’s vision includes expanding $UBTC’s utility to support real-world asset (RWA) tokenization and cross-chain derivatives, aiming to bridge Bitcoin’s store-of-value strength with Web3’s financial innovation. With a focus on security, audited contracts, and community-driven development, $UBTC offers a versatile gateway for Bitcoin holders to engage in decentralized economies without sacrificing asset control.

What is unique about Unit Bitcoin (UBTC)?

$UBTC is uniquely pegged to BTC on Hyperliquid L1, enabling cross-chain DeFi with liquid staking and yield farming, backed by audited reserves for trustless liquidity and seamless integration across Web3 ecosystems.

Who are the founders of Unit Bitcoin (UBTC)?

The founders of Unit Bitcoin are anonymous, developed under the Hyperliquid team with no specific individuals publicly named.

Who are the backers/investors of Unit Bitcoin (UBTC)?

The backers of Unit Bitcoin are not explicitly disclosed, relying on community-driven support within the Hyperliquid ecosystem, with no named institutional investors.