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Badger eBTC

Overview
Status
Mainnet
Type
Reserve
BTC Supply
₿0
Badger eBTC is a BTC-denominated asset that enables users to borrow BTC against Lido stETH. Lido stETH is a derivative of ETH, Ethereum's native currency.
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.
Users are exposed to smart contract risks and potential liquidations when using this asset.
Assessment
Asset Custody
Users deposit stETH into a smart contract to receive eBTC
To obtain eBTC, users must deposit Lido stETH, an ETH-denominated asset, as collateral to borrow eBTC. If a users's collateralization ratio falls below a certain threshold, they can be liquidated. Collateralization ratios are based on the ETH/BTC price pair.

Source
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.