Interest Bearing Bitcoin

Interest Bearing Bitcoin
Interest Bearing Bitcoin

The most usable form of Bitcoin in DeFi, that pays you to hodl.

Interest Bearing Bitcoin (ibBTC) is a fully collateralized representation of Bitcoin on Ethereum, Matic, and BSC. ibBTC aims to be the most liquid, secure, and widely used BTC-backed asset throughout DeFi while at the same time providing users with a base interest rate from holding it.

Built in collaboration with DefiDollar, ibBTC is an index of the top Bitcoin-pegged assets in DeFi, including wBTC, renBTC, sBTC, and tBTC. Users can mint ibBTC by providing any of the following four vault tokens from Sett Vaults:

  • byvWBTC
  • bCrvRenWBTC
  • bCrvRenWSBTC
  • bCrvtBTC

Once minted, BadgerDAO manages the assets to provide a base interest rate that is derived from the return of the underlying Sett Vaults.

ibBTC may be redeemed for the underlying vault tokens at any time or traded on exchanges like Sushiswap.

Utility for ibBTC

  • WBTC / ibBTC SLP: Provide liquidity on Sushiswap and stake SLP in Badger Vault to receive Badger, and SUSHI rewards
  • Sushiswap Farm (Polygon):Provide liquidity in the Polygon Sushiswap ibBTC/wBTC pool and then deposit the SLP tokens in Sushi to earn MATIC and SUSHI rewards

Fees

  • Minting: 0.20%
  • Redeeming: 0.10%

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