metrics-from-the-first-month-of-tbtc’s-second-launch

Metrics from the first month of tBTC’s second launch

Quick Take

  • tBTC is a fully backed ERC-20 token pegged to the price of bitcoin. The BTC held on the Bitcoin blockchain is backed by a 150% ETH overcollateralization on the Ethereum chain
  • After an initial launch in May 2020, a bug that was discovered pushed the release of the protocol to last month
  • There are 632 tBTC minted (~$7.2 million), and tBTC currently makes up 0.43% of the BTC supply on the Ethereum blockchain

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