risk managerGauntletcomp.xyz
↓Deprecation of Linea and Mantle Comets
The Compound III markets on Linea where WBTC serves as collateral have seen limited adoption and are being deprecated. New supply is being capped at zero.
Overview
Wrapped Bitcoin(WBTC)
Token Price$60,037
24h Change-0.3%
All Time HighOct 6, 2025$125,932
All Time LowApr 2, 2019$3,139
Key Metrics
Market Cap$6.972b
Fully Diluted Valuation$6.972b
Circ. Supply116,132 WBTC
Volume 24h$45.62m
CEX Volume$8.91m
DEX Volume$25.28m
Risks
How much debt can be issued against WBTC as collateral across lending protocols.
Maximum possible exposure to WBTC
$3.221b
$526.6m (max additional borrows against WBTC) + $2.695b (bad debt if WBTC was hacked now)
Aave V3
$1.107b at-risk exposure = $772.64m bad debt if hacked + $334.06m additional borrowable against WBTC
Compound V3
$310.16m at-risk exposure = $214.06m bad debt if hacked + $96.1m additional borrowable against WBTC
Morpho V1
$235.09m at-risk exposure = $194.7m bad debt if hacked + $40.39m additional borrowable against WBTC
Fluid
$81.29m at-risk exposure = $46.91m bad debt if hacked + $34.38m additional borrowable against WBTC
SparkLend
$45.9m at-risk exposure = $29.56m bad debt if hacked + $16.34m additional borrowable against WBTC
Euler V2
$5.97m at-risk exposure = $641,133 bad debt if hacked + $5.33m additional borrowable against WBTC
Maple
$1.434b at-risk exposure = $1.434b bad debt if hacked + $0 additional borrowable against WBTC
Sky Lending
$2.1m at-risk exposure = $2.1m bad debt if hacked + $0 additional borrowable against WBTC
Methodology and limitations
Showing collateral exposure for WBTC on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
- Bad debt at $0 is a lower bound when some contributing markets return null for zero-price bad debt; null rows are excluded instead of being treated as zero.
Show exposure details
Each row is one protocol-chain exposure for WBTC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $291.37m | $694.63m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $79.04m | $200.31m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $36.35m | $184.13m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $29.3m | $56.44m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $21.64m | $42.58m | ||
WBTC0x2260fac5e5542a773aa44fbcfedf7c193bc2c599 | $16.34m | $29.56m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $14.58m | $9.52m | ||
WBTC0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f | $11.9m | $3.78m | ||
WBTC0x1bfd67037b42cf73acf2047067bd4f2c47d9bfd6 | $6.92m | $21.57m | ||
WBTC0x68f180fcce6836688e9084f035309e29bf0a2095 | $6.47m | — |
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Risk Timeline
Risk-management actions published about WBTC by tracked risk managers and governance contributors, newest first.
contributor@AranaDigitalcomp.xyz
↑Compound DAO seeks managers for its treasury assets
The Compound DAO is seeking professional managers to deploy its treasury reserves, including this asset, into active yield strategies. This initiative aims to move idle capital into more productive, risk-managed investments to generate higher returns for the DAO.
risk managerBlock Analiticaforum.skyeco.com
↓Risk Month in Review: May 2026
The specialized 'e-mode' for BTC-correlated assets is being deprecated, reducing capital efficiency for leveraged positions. The price oracle is also being updated to include a 'Killswitch' safety feature.
contributor@0x8541cCfc6E7EAcEbD233C6789a0FbF7C708B0E68snapshot.box/s:sparkfi.eth
↑Expand approved collateral and venues for Arkis infrastructure
Proposes adding WBTC as an approved collateral asset for Arkis infrastructure credit lines, citing high user demand and its historical data showing relatively low volatility and fundamental risk.
contributor@0x8541cCfc6E7EAcEbD233C6789a0FbF7C708B0E68snapshot.box/s:sparkfi.eth
→Update WBTC Oracle to Use Kill Switch
A kill-switch oracle is being added to automatically freeze all borrowing if the price of WBTC falls more than 5% below the price of BTC. This is a proactive safety measure to protect the protocol from a potential WBTC de-peg event.
risk managerBlock Analiticaforum.skyeco.com
↑Sky Ecosystem Risk Month in Review: April 2026
Parameter updates supported for WBTC in SparkLend spells, including lending-market-model-derived CRRs in the new Grove × Steakhouse RLUSD Morpho Vault V2. Enables expanded use as collateral against RLUSD with risk-adjusted capital requirements.
contributor@Steakhouseforum.morpho.org
→Upgrading oracles for Prime BTC and ETH markets
WBTC markets are adopting a MetaOracle using SVR BTC/USD primary with WBTC/BTC × BTC/USD Chainlink backup, enhancing safety through deviation-based switching and reducing oracle failure risks.
risk managerGauntletcomp.xyz
→Supply Cap Reductions Across L2 Comets
WBTC is designated as a key collateral asset with strong demand, so it remains unaffected by cap reductions to preserve borrowing activity without introducing unnecessary risk adjustments.
risk managerGauntletcomp.xyz
↓Compound Treasury Consolidation: Sources, Methodology and Framework
Reserves from deprecated v2 markets and above VaR buffer in Ethereum v3 are being withdrawn for treasury consolidation to fund V4 and management programs; as a volatile asset, the pulled amount faces price risk during planned conversion to stablecoins via TWAP to minimize market impact.
contributor@EulerLabsforum.euler.finance
→Sunsetting of DAO-Managed Markets and Vaults
Isolated WBTC markets on Monad are being handed over to curator K3 for continued management, as the DAO sunsets direct operations to minimize conflicts of interest and refocus on infrastructure.
Markets
Token Usage
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Liquidations
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Yields
Showing 10 of 814 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBTC-WETH | $1.29m | 8507% | 8507% | 226% | |||||
| open in new tabUP-CBBTCCL100 - 1% | $721,862 | 379% | 243% | ||||||
| open in new tabUSDC-CBBTCCL1 - 0.019% | $566,758 | 10275% | 12546% | ||||||
| open in new tabSOL-CBBTCCL10 - 0.035% | $232,560 | 1106% | 951% | ||||||
| open in new tabWETH-CBBTCCL1 - 0.0085% | $192,678 | 4909% | 3863% | ||||||
| open in new tabWBTC-USDTCL - 10 | 🪂 | $89,207 | 22622% | 0% | 22622% | 21924% | |||
| open in new tabEBTC-CBBTC | $58,950 | 4772% | 3995% | ||||||
| open in new tabUSDC-CBBTCCL1 - 0.01% | $28,606 | 5664% | 15668% | ||||||
| open in new tabWBTC-WETHCL - 10 | 🪂 | $13,430 | 8055% | 0% | 8055% | 7857% | |||
| open in new tabWBTC-WETH | $10,921 | 4994% | 4994% | 17021% |
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Borrow
Showing 10 of 17712 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWBTC âžž WETH | $85.45m | 28.08% | 28.08% | 0% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž WSTETH | $73.12m | 28.08% | 28.08% | 0% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž WETH | $57.8m | 28.08% | 28.08% | 0% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž WSTETH | $47.15m | 28.08% | 28.08% | 0% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž WETH | $2.76m | 28.18% | 28.08% | 0.14% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž CDCBTC | $1.98m | 28.18% | 28.08% | 0.14% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž CDCETH | $652,826 | 28.40% | 28.08% | 0.45% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž ZWBTC | $86,945 | 28.57% | 28.08% | 0.69% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž WBTC.E | $11,525 | 29.34% | 28.08% | 1.80% | 70% | $23,252 | $23,252 | ||
| open in new tabWBTC âžž MOVE | $5,788 | 37.59% | 28.08% | 13.59% | 70% | $23,252 | $23,252 |
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