1.2 BTC.b Technical Specifications.
BTC.b Technical Specifications
Token Details
Token Symbol: BTC.b
Backing: 1:1 native Bitcoin
Decimal Places: 8 (matching native Bitcoin)
Contract Standards: ERC-20 on Ethereum/Avalanche.
Supply: Variable based on deposits/withdrawals, fully backed at all times
Supported Networks
Currently Live:
Katana (as BTC.k - renaming to BTC.b on the transition date)
Minting Process - Technical Deep Dive
The minting process begins with address generation using a deterministic algorithm that encodes the user's destination chain and wallet address into a Bitcoin address. This encoding scheme provides multiple benefits: it prevents user error by making it impossible to send Bitcoin to an incorrect address, it enables automatic routing to the correct chain and wallet, and it provides phishing protection by making each deposit address unique.
Once Bitcoin is sent to the generated address, the protocol's indexing infrastructure detects the transaction within seconds. The transaction then enters a validation pipeline that includes multiple independent checks. The Bitcoin network confirmation ensures transaction finality. The security consortium validates that the deposit matches protocol rules. Bascule verifies collateral consistency between Bitcoin and the destination chain. CCIP provides additional cross-chain validation.
After all validations pass, the minting transaction is submitted to the destination chain. The smart contract performs final checks before minting the exact amount of BTC.b to the user's wallet. The entire process typically completes within 6 Bitcoin confirmations, though users can track progress in real-time through the Lombard app or by querying the protocol directly.
Redemption Process - Security and Efficiency
Redemption begins with the user initiating a burn transaction on their current chain. The smart contract validates the burn request, ensuring the user has sufficient balance and has provided a valid Bitcoin address. The burned tokens are permanently removed from circulation, with the transaction recorded both on the blockchain and in the Lombard Ledger.
The redemption request then enters a multi-stage validation process designed to prevent errors and ensure security. The security consortium validates the burn transaction and approves the corresponding Bitcoin withdrawal. Multiple independent systems verify that the burn has occurred and cannot be reversed. Time delays are enforced for large redemptions to provide additional security against potential attacks.
Once all validations complete, the Bitcoin transaction is constructed and signed by the HSM infrastructure. The transaction is broadcast to the Bitcoin network, with multiple nodes ensuring propagation. Users receive their Bitcoin at the address they specified, completing the redemption cycle. The typical redemption time of 4-8 hours balances security with user convenience, providing sufficient time for detection of any anomalies while avoiding excessive delays.
Security Features
Multi-Signature Validation: 15-member consortium with 2/3 majority required
Hardware Security Modules: FIPS 140 certified HSM infrastructure
Timelocked Operations: Enforced delays on sensitive protocol changes
Transaction Restrictions: Keys can only sign pre-approved transaction types
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