The Pstake yBTC 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 Additionally, there may be incomplete or outdated research.

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Pstake yBTC

Overview

Status

Deposits Live

Type

Liquid Staking

BTC Supply

₿0

pStake yBTC is a BTC wrapped asset. It is under review.

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 multiple custodians. Users trust this group with maintaining the peg with BTC.

Assessment

Asset Custody

BTC backing yBTC is secured by Cobo, an institutional provider

pStake's yBTC is backed by BTC held in custodian wallets. These wallets are secured by signers participating in an MPC scheme. pStake has a dedicated Cobo account where users' funds are held.

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.