BTC.b FAQ
What is BTC.b?
BTC.b is a permissionless, decentralized Bitcoin representation on multiple blockchains. Each BTC.b is backed 1:1 by native Bitcoin held in secure custody through Lombard's multi-layered security architecture. With ~$550M in circulation, it's one of the most trusted Bitcoin assets in DeFi.
How is BTC.b different from WBTC?
BTC.b requires no KYC, has lower fees (0% minting, 0.1% redemption vs 0.25% each for WBTC), and operates on a decentralized security model rather than centralized custody. Anyone can mint and redeem BTC.b directly, while WBTC requires going through approved merchants or secondary markets.
Is BTC.b safe?
Yes. BTC.b uses multiple security layers including a 15-member security consortium (including OKX, Galaxy, Kraken), Hardware Security Modules for key management, Chainlink Proof of Reserve for transparency, and dual verification systems. All smart contracts are audited by OpenZeppelin, Veridise, and Halborn.
Who is behind BTC.b?
BTC.b was originally created for Avalanche and has now transitioned to Lombard's infrastructure. Lombard acquired BTC.b's infrastructure and assets from Ava Labs to expand it into a multi-chain Bitcoin standard while maintaining all existing integrations and user balances.
Minting and Redemption
How do I mint BTC.b?
Visit app.lombard.finance
Connect your wallet and select your destination chain
Generate a unique Bitcoin deposit address
Send BTC from any wallet to this address
Receive BTC.b in your wallet after 6 confirmations (60 minutes)
How do I redeem BTC.b for Bitcoin?
Initiate redemption through the Lombard app by specifying your Bitcoin destination address. Your BTC.b will be burned and native Bitcoin sent to your address within 4-8 hours. The process includes security delays to protect against potential issues.
What are the minimum and maximum amounts? There are no minimum or maximum amounts for minting or redemption. You can mint as little as 0.0001 BTC or as much as you need. The protocol treats all users equally regardless of transaction size.
Can I cancel a minting or redemption request? Minting cannot be cancelled once Bitcoin is sent to the deposit address. Redemption cannot be cancelled once the burn transaction is confirmed. Always double-check addresses before confirming transactions.
Why does redemption take 4-8 hours? The redemption time includes multiple security validations and operational delays to ensure safety. This protects against potential attacks while still providing reasonable access times compared to alternatives like LBTC (7-14 days) or WBTC (24-48 hours).
What are the minimum and maximum amounts?
There are no minimum or maximum amounts for minting or redemption. You can mint as little as 0.0001 BTC or as much as you need. The protocol treats all users equally regardless of transaction size.
Can I cancel a minting or redemption request?
Minting cannot be cancelled once Bitcoin is sent to the deposit address. Redemption cannot be cancelled once the burn transaction is confirmed. Always double-check addresses before confirming transactions.
Why does redemption take 4-8 hours?
The redemption time includes multiple security validations and operational delays to ensure safety. This protects against potential attacks while still providing reasonable access times compared to alternatives like LBTC (7-14 days) or WBTC (24-48 hours).
Fees and Costs
What fees does BTC.b charge?
Minting: 0% (only Bitcoin network fees)
Redemption: 0.1%
Holding: 0%
Transfers: 0% (only gas fees)
How do network fees work?
You pay Bitcoin network fees when depositing (~$2-20) and gas fees on your destination chain when receiving BTC.b. Gas fees vary by chain: Ethereum ($5-50), Avalanche (<$1), Solana (<$0.01).
Are there hidden fees?
No. BTC.b has no spreads, no management fees, no custody charges, and no performance fees. The only fees are clearly stated: 0.1% for redemption plus standard network fees.
How does this compare to other wrapped Bitcoin?
BTC.b is typically 50-75% cheaper than alternatives. WBTC charges 0.25% for both minting and redemption. Centralized options often have spreads and hidden costs. Over a year, savings can exceed $100+ per $10,000 invested.
Technical Questions
Which blockchains support BTC.b?
Currently: Avalanche C-Chain, and Katana. More chains are added regularly based on demand and technical compatibility.
How do I bridge BTC.b between chains?
BTC.b can be bridged between supported chains using the Lombard app or integrated bridge protocols. The process typically takes 10-30 minutes depending on the chains involved.
What happens to my existing BTC.b on Avalanche?
Nothing changes. Your tokens, addresses, and integrations remain exactly the same. The transition to Lombard's infrastructure happens behind the scenes with no action required from users.
Can developers integrate BTC.b easily?
Yes. BTC.b uses standard token interfaces (ERC-20 on EVM chains, SPL on Solana) requiring no special modifications. Integration is as simple as adding the token address to your protocol.
How can I verify the backing?
Check Chainlink's Proof of Reserve feeds which update every 10 minutes. You can verify that total BTC.b supply exactly matches Bitcoin held in reserve at any time.
Security and Compliance
Is KYC required?
No. BTC.b is completely permissionless. Anyone can mint and redeem without identity verification, except users from sanctioned jurisdictions.
What countries are restricted?
Only OFAC-sanctioned countries are restricted. This includes North Korea, Iran, Syria, Cuba, and regions under international sanctions. All other users globally have full access.
What if the protocol is hacked?
The multi-layered security makes this extremely unlikely. Even if multiple consortium members were compromised, hardware-level restrictions prevent unauthorized transactions. Regular audits and monitoring provide additional protection.
Who controls the Bitcoin reserves?
No single entity controls the reserves. The 15-member security consortium must reach consensus for any operation, with keys secured in Hardware Security Modules. This eliminates single points of failure.
Is BTC.b insured?
While there's no traditional insurance, the security model itself provides multiple protective layers. The consortium structure, HSM security, and operational procedures create defense in depth against potential losses.
DeFi Integration
Where can I use BTC.b?
BTC.b is integrated across major DeFi protocols including Aave, BENQI, TraderJoe, Uniswap, and many others. You can lend, borrow, provide liquidity, and trade across the entire DeFi ecosystem.
Can I earn yield with BTC.b?
While BTC.b itself doesn't generate yield, you can earn through DeFi strategies: lending on Aave (2-5% APY), liquidity provision (5-20% APY), or other protocols. This gives you full control over your risk and return profile.
Is BTC.b accepted as collateral?
Yes. Major lending protocols accept BTC.b as collateral with competitive loan-to-value ratios (typically 70-80%). This enables leveraged strategies while maintaining Bitcoin exposure.
How liquid is BTC.b?
With ~$550M in circulation and deep integration across DEXs, BTC.b has excellent liquidity. Large trades can be executed with minimal slippage across multiple venues.
BTC.b vs LBTC
Should I choose BTC.b or LBTC?
Choose BTC.b for maximum flexibility, lowest fees, and active DeFi participation. Choose LBTC for passive yield generation (3-8% APY) and long-term holding. Many users hold both.
Can I convert between BTC.b and LBTC?
Yes, though not directly. You would need to redeem one for Bitcoin and mint the other, incurring redemption fees and waiting times. Direct swaps may be available on DEXs depending on liquidity.
Why doesn't BTC.b generate yield like LBTC?
BTC.b prioritizes simplicity and composability. By maintaining a pure 1:1 peg, it's easier to integrate, calculate positions, and move between protocols. Users can generate yield through DeFi instead.
Which has better liquidity?
BTC.b currently has deeper liquidity due to its longer operating history and extensive integrations. LBTC liquidity is growing as more protocols add support for yield-bearing assets.
Troubleshooting
What if I sent Bitcoin to the wrong address?
Always verify addresses before sending. If you send to an incorrect address, funds cannot be recovered. The deterministic address system helps prevent this by encoding your destination details.
My minting is taking longer than expected.
What should I do? Check Bitcoin network congestion and confirmations. Minting requires 3-6 Bitcoin confirmations. During high congestion, this may take longer. You can track progress in the Lombard app.
I can't see BTC.b in my wallet.
How do I add it? Add BTC.b as a custom token using the contract addresses provided in the documentation. Most wallets auto-detect tokens, but manual addition ensures visibility.
Who do I contact for support?
Discord: discord.gg/lombard (fastest response).
Website: lombard.finance (using the widget in the bottom right).
Last updated
Was this helpful?