What is Wrapped BTC?
Wrapped Bitcoin is the ERC-20 token for BTC (Bitcoin). 1 WBTC equals 1 BTC.
How to use / participate?
A standard use for wBTC is as collateral, or a pledge for loan repayment, when taking out a cryptocurrency loan on DeFi platforms. Upon repayment of the crypto borrowed, the collateral, in the form of wBTC, is returned. If the collateral is liquidated, the wBTC is recouped by the platform.
Total supply: 21,000,000 WBTC (if all BTC would be wrapped)
Circulating supply: 228,762 WBTC