tBTC

tBTC, developed by the Cross-Chain Group, is a decentralized and trustless system for wrapping Bitcoin (BTC) on the Ethereum network. Each tBTC token represents one BTC and can be redeemed at a 1:1 ratio. The total supply of tBTC is pegged to the total supply of BTC, allowing users to utilize wrapped Bitcoin in Ethereum’s decentralized finance (DeFi) ecosystem without the need for intermediaries.