mBTC

A BTC-pegged crypto asset backed by an underlying basket of tokenized BTC on Ethereum.

What is mBTC?

mBTC is a crypto asset pegged to the price of BTC, backed by a pool of tokenized BTC on the Ethereum network. The assets currently underlying mBTC include:

• renBTC

• WBTC

• sBTC

Each asset within the basket has a set of max and min weights. Currently, these are set to 5% and 65%. This means that no single asset could make up more than 65% of the basket nor less than 5%. This is to limit exposure to a single underlying asset in the unlikely case of a depeg.

How can I obtain mBTC?

You can acquire mBTC in the following ways:

• Minting new mBTC by depositing supported tokenized BTC assets into the underlying pool and receiving mBTC in return. This can be achieved in the mStable App on Ethereum through the Swap functionality.
• Using mStable Feeder Pools to exchange supported tokenized BTC assets for mBTC. This option is also provided through the Swap functionality in the mStable App on Ethereum.
• Purchasing mBTC on decentralized exchanges such as:

  • Sushiswap

What's the utility of mBTC?

• Use mBTC as a medium of exchange, unit of account or store of value in DeFi.

• Deposit your mBTC into the mStable Save contract to receive interest-bearing imBTC which can also be deposited into the mStable "Vault" to earn MTA rewards.
• Provide liquidity with you mBTC in mStable's Feeder Pools to earn income from swap fees.