A BTC-pegged crypto asset backed by an underlying basket of tokenized BTC on Ethereum.
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:
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.
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.
- Purchasing mBTC on decentralized exchanges such as:
- Use mBTC as a medium of exchange, unit of account or store of value in DeFi.