The Alex xBTC page of Bitcoin Layers is under development.

We have not yet implemented our proof-of-reserves and therefore cannot assure you that wrappers are fully backed, 1:1, with BTC. Please use caution interacting with these wrapped BTC assets. Additionally, there may be incomplete or outdated research.

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Alex xBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

xBTC is a BTC-derivative used primarily within Stacks DeFi applications. xBTC is backed by BTC held in Wrapped's custody.

BTC Supply

Total supply per day

Supplycoming soon

TVL Data Coming Soon

We're currently gathering and building data infrastructure for this network. TVL analytics will be available soon.

Token Contracts

Token Contracts Coming Soon

We're working to collect the various BTC-backed token contracts for this network. Contract addresses will be available soon.

Risk Summary

Users do not have unilateral claims on native BTC.

BTC backing this asset is secured by a centralized custodian. Users trust this single entity with maintaining the peg with BTC.

Assessment

Asset Custody

Users trust Wrapped with the custody of BTC backing xBTC

Users trust Wrapped, a custodian provider, with the custody of BTC backing xBTC. Alex, a DeFi project largely associated with the Stacks ecosystem, acquired Wrapped and has initiated a transition to move xBTC into sBTC.

Funds that are not moved into sBTC are still secured by Wrapped.

Further sections to be reviewed

Aspects related to minting & burning, key management, transaction signing, and proof-of-reserves have not been reviewed. We are currently reviewing these sections.