The BEVM WBTC 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 Additionally, there may be incomplete or outdated research.

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BEVM WBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

Under review.

Risk Summary

Users do not have unilateral claims on native BTC.

BTC backing this asset is secured by a federation of signers. Users trust this federation with maintaining the peg with BTC.

Assessment

Asset Custody

Users trust a federation to secure BTC backing BEVM wBTC

On BEVM's official bridge, BTC is locked in a bitcoin address controlled by up to 15 trustees. These trustees custody the BTC that backs wBTC on BEVM.

Trustees are selected by BEVM's validator set. Users trust that the trustees will not steal their BTC.

Further sections to be reviewed

Aspects related to BTC custody, key management, transaction signing, and redemptions have not been reviewed. We are currently reviewing these sections.