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Where does value flow in crypto?
Wrapped Bitcoin uses a federated governance model controlled by Bitgo, Ren, and Kyber Network, to mint WBTC, an ERC-20 token, on Ethereum backed 1:1 by Bitcoin.
Trustlessness by LI.FI
• Bitgo (custodian) is the institution that holds the wrapped assets and has the keys to mint wBTC tokens via smart contracts.
• Bitgo has no staked collateral.
• Merchants like Kyber Network and Republic Protocol hold keys to mint/burn wrapped tokens.
Bug bounties by immunefi.com
This bridge has no bug bountyLearn how to secure your project