24h Change-4.11%
All Time HighOct 6, 2025$127,954
All Time LowSep 10, 2024$11,470
Market Cap$680.94m
Fully Diluted Valuation$680.94m
Circ. Supply10,707 FBTC
CEX Volume$0
DEX Volume$142,636
How much debt can be issued against FBTC as collateral across lending protocols.
Maximum possible exposure to FBTC
$6.56m
$39,520 (max additional borrows against FBTC) + $6.52m (bad debt if FBTC was hacked now)
Aave V3
$6.56m at-risk exposure = $6.52m bad debt if hacked + $39,520 additional borrowable against FBTC
Showing collateral exposure for FBTC on Ethereum. 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.
Each row is one protocol-chain exposure for FBTC as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
FBTC0xc96de26018a54d51c097160568752c4e3bd6c364 | $39,520 | $6.52m |
Risk-management actions published about FBTC by tracked risk managers and governance contributors, newest first.
The KelpDAO rsETH incident prompted precautionary reduce-only status for FBTC on April 18 due to its LayerZero bridging, allowing users to withdraw but preventing new deposits and borrows amid heightened cross-chain risk awareness.
FBTC has moderate 3.4% utilization in Mantle USDe Comet, so its cap is being adjusted ~25% above current supply to match organic demand and reduce the unused risk surface vulnerable to long-tail collateral exploits.
uOptimal changes and E-mode additions supported on Core and Base ahead of full onboarding, to facilitate leveraged looping strategies with LBTC and other BTC correlated assets.
Productive discussions with the Ignition team confirm solid asset architecture, supporting the onboarding of FBTC to Aave v3 Main Market on Ethereum.
FBTC provides a secure, decentralized alternative to WBTC using Threshold Signature Scheme for cross-chain Bitcoin scalability, backed by reputable contributors like Antalpha and Mantle with over $850M TVL. Its $480M TVL, upcoming Chainlink Oracle integration, and Ignition's liquidity incentives including boosted rewards on Aave aim to drive significant deposits and AUM growth.
FBTC, a wrapped Bitcoin from Ignition, shows strong growth in its locked yield-bearing variant (6.6K BTC TVL) and complies with ERC20 standards backed 1:1 by BTC via Chainlink Proof of Reserves, enabling new DeFi utility for BTC. Despite liquidity concentrated in a single Uniswap LP and restrictions to qualified users, its audited smart contracts, tight peg to WBTC, and custody by a security council of established partners like Cobo and Mantle make it suitable for onboarding with conservative parameters.
FBTC is a secure cross-chain BTC wrapper using Threshold Signature Scheme and multi-party computation for decentralized bridging, with $480M TVL and upcoming Chainlink Oracle integration. Onboarding enables Bitcoin holders to leverage their assets in DeFi on Aave, boosting liquidity and protocol engagement similar to cbBTC's successful rollout.
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Tracking 6 pools, average APY 1.41%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabFBTC | $11.39m | 0% | 0% | 0% | |||||
| open in new tabFBTCMain Market | $9.9m | 0% | 0% | 0% | |||||
| open in new tabWBTC-FBTC0.3% | $6.97m | 0.57% | 0.57% | 0.11% | |||||
| open in new tabFBTC | $2.83m | 0% | 0% | 0% | |||||
| open in new tabCBBTC-FBTC | $2.49m | 0% | 0% | 0% | |||||
| open in new tabFBTCfrozen | $6,464 | 5.08% | 1.37% | 3.71% | 1.73% |
Showing 10 of 300 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabFBTC âžž CBBTC | $1.086b | 4.87% | 5.08% | -0.29% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž TBTC | $124.79m | 4.88% | 5.08% | -0.28% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž CBBTC | $68.42m | 4.91% | 5.08% | -0.24% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž JITOSOL | $15.87m | 5.07% | 5.08% | -0.01% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž XBTC | $12.7m | 4.87% | 5.08% | -0.29% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž MSOL | $2.61m | 5.07% | 5.08% | -0.01% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž WBTC | $1.27m | 5.07% | 5.08% | -0.01% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž JTO | $380,176 | 5.07% | 5.08% | -0.01% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž CMETH | $154,182 | 4.95% | 5.08% | -0.18% | 70% | $10,068 | $3,604 | ||
| open in new tabFBTC âžž CASH | $47,946 | 5.08% | 5.08% | 0% | 70% | $10,068 | $3,604 |
