Question 1

What is tBTC v1 (TBTCV1)?

Accepted Answer

tBTC (TBTC) is an ERC-20 token that represents Bitcoin (BTC) on the Ethereum blockchain. It allows Bitcoin holders to utilise their BTC within the Ethereum ecosystem, including decentralised finance (DeFi) applications. Each TBTC token is fully backed by an equivalent amount of Bitcoin, which is held in reserve and can be redeemed at any time.

Question 2

What is tBTC v1 (TBTCV1) used for?

Accepted Answer

tBTC (TBTC) is primarily used to bring Bitcoin liquidity to the Ethereum blockchain. This enables Bitcoin holders to participate in the Ethereum DeFi ecosystem, including lending, borrowing, and trading on decentralised exchanges (DEXs). TBTC can also be used as collateral in various DeFi protocols, providing Bitcoin holders with additional financial utility while maintaining the value of their BTC holdings.

Question 3

Who created tBTC v1 (TBTCV1)?

Accepted Answer

tBTC is an open-source project supported by groups including [Keep](https://keep.network/), [Summa](https://summa.one/) and the [Cross-Chain Group](https://www.crosschain.group/).