BTCK
Lombard is the Bitcoin provider on Katana, providing both LBTC and BTCK. BTCK is a 1:1 Bitcoin-backed asset, purpose-built for Katana. On Katana, BTCK can be minted from BTC, and redeemed to BTC at anytime.
BTCK is built with the same technical architecture and security framework that powers LBTC (yield-bearing Bitcoin LST).
BTCK Overview
Mint BTCK from BTC in just 60 minutes (6 bitcoin network block confirmations)
No fees to mint, and a small fixed redemption charge (unlike variable basis point fee charged to unwrap based on transaction size)
Redeemable, at anytime for BTC and available within 3 days (soon, redemptions will be possible within 60 minutes)
Permissionless on-chain minting - available without KYC, or CEX access.
How to Access
Navigate to Lombard <> Katana dApp to mint BTCK. Once redeemed, move, trade, and earn across Katana’s high-performance DeFi ecosystem.
DeFi Integrations
BTCK can be used as collateral across core apps on Katana, including Sushi and Morpho.
Sushi: BTCK/LBTC, BTCK/AUSD, BTCK/vbWBTC, and BTCK/wETH.
Morpho: BTCK Collateral, BTCK Debt
Technical Architecture:
BTCK is backed 1:1 with native BTC, it's non-yield bearing, and non-slashable.
The architecture is identical to LBTC (BTC LST), but does not include staking the underlying to Babylon's Bitcoin staking protocol. To access BTCK, users will generate a unique deterministic address where BTC can be sent, and an identical amount BTCK will be minted at the corresponding destination address on Katana.
BTC sent to user's deposit address will result in BTCK being minted at the correspond address on Katana within 6 confirmations of the Bitcoin network. Redemptions currently take 3 days to process. Minting is enabled by Lombard Ledger, and secondary minting oracle checks are provided by the Bascule drawbridge.
All BTC deposits will accrue to another CubeSigner controlled address to facilitate redemption processing.
Security:
All BTCK transactions are secured and enabled by both the Security Consortium and the Bascule Drawbridge
Contracts on Katana:
BTCK (nativeLBTC ) ERC-20
0xB0F70C0bD6FD87dbEb7C10dC692a2a6106817072
Consortium's Governance
0xdad58DfA5c1a7a34419AFdBE1f0d610efeea95E4
Bascule Drawbridge
0x723c1c3AE8e062e93d03989CFdaf9Cb1424D2d05
For LBTC on Katana, please check out here.
Fees:
A nominal network security fee of 0.0001 BTCK is charged to process redemptions of native BTC.
Note: There are no fees incurred for minting BTCK
Important:
Users may face issues when minting BTCK or OKX on Katana, please refer to this Katana <> OKX FAQ for more info.
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