Why is WBTC?

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For example, you hold bitcoins in your wallet. We heard a lot of DeFi-related news this summer, especially when the cumulative weekly trading volume of DEXs exceeded the $8 billion mark. You also want to make good use of your capital and try DeFi investment. Even by December 2020, its transaction volume has dropped by nearly twice-what can you do to connect Bitcoin and Ethereum?

WBTC can solve this problem, and the solution is elegant and simple. In 2019, the founders of the joint project of BitGo, Kyber Network, and Ren suggested that the oldest and largest cryptocurrency on the market should be wrapped with the ERC20 standard, and Bitcoin should be integrated into the Ethereum blockchain-wait and see!

If you are a DEX, ERC20 wallet or other dApp, there is no need to run a separate Bitcoin node. The liquidity related to the BTC market has been brought to the Ethereum blockchain, and now the transaction time has been shortened.

According to the official custodian of the project, BitGo, WBTC users will be able to use Bitcoin in a variety of new decentralized use cases, including on decentralized exchanges (DEX), as stablecoins or collateral for borrowing Payments and flexible smart contracts within the Ethereum ecosystem. Leading use cases will be supported by important decentralized projects, including Kyber Network, Republic Protocol, MakerDAO, Dharma, Airswap, IDEX, Compound, DDEX, Hydro Protocol, Set Protocol, Prycto, RadarRelay and Gnosis.