dlcBTC Price (dlcBTC)

What Is dlcBTC?

Launched in 2024, dlcBTC is a decentralized wrapped Bitcoin designed to bring the security and control of Bitcoin to the DeFi ecosystem. Unlike traditional wrapped Bitcoin tokens, dlcBTC ensures that merchants (institutions with more than 10 BTC) retain full ownership of their assets throughout the holding process.

Merchants can mint dlcBTC by locking their Bitcoin in a secure, self-custodial manner using Discreet Log Contracts (DLCs). This allows them to access DeFi opportunities on Ethereum, Arbitrum, Base, and other EVM-compatible chains while maintaining complete control over their Bitcoin.

All users can then utilize dlcBTC within DeFi for various yield generation activities, such as staking, lending, borrowing, liquidity farming, and trading. By leveraging dlcBTC, users benefit from its enhanced security, Bitcoin-native foundation, and seamless cross-chain functionality.

What Makes dlcBTC Unique?

• Self-Custody for Merchants: Merchants retain complete control over their Bitcoin throughout the process, eliminating the risks associated with third-party custodians and centralized bridges.
• Theft-Proof Mechanism: The design of DLCs ensures that locked Bitcoin can only be transferred back to the original depositor, even if the system is compromised.
• Bitcoin Base-Level Security: DLC transactions are secured by the full hashrate of the Bitcoin network, offering robust protection against attacks.
• Composable DeFi Integration: dlcBTC can be seamlessly integrated into various DeFi applications, maximizing the utility of Bitcoin holdings.
• Transparency: All transactions and the status of locked Bitcoin are transparent and verifiable on the blockchain.
• Fully Automated: The dlcBTC system is fully automated, eliminating the need for manual custody steps. This efficiency results in rapid burn and mint times. dlcBTC is minted 3-10X faster than wBTC — in 3-6 BTC block confirmations (30-60 minutes) vs. 3-12 hours for wBTC.
• Flexible Fee Arrangement: dlcBTC can offer lower fees compared to wBTC. BitGo incurs vault fees and other overhead. Our fees are at least 25% cheaper than wBTC.
• Chainlink CCIP Integration: dlcBTC leverages Chainlink's Cross-Chain Interoperability Protocol (CCIP) to ensure secure and reliable cross-chain transfers, enhancing its functionality and accessibility across multiple blockchains.

How Many dlcBTC (dlBTC) Coins Are There in Circulation?

Given its status as a wrapped token, the supply of dlcBTC is not fixed but expands or contracts based on the demand for wrapping or unwrapping Bitcoin. The number of dlcBTC tokens in circulation directly corresponds to the amount of Bitcoin locked in DLCs. dlcBTC maintains a strict 1:1 peg with Bitcoin, ensuring that each dlcBTC token is fully backed by an equivalent amount of Bitcoin held in reserve.

Who Are the Founders of dlcBTC?

• Aki Balogh, Co-founder & CEO: An accomplished entrepreneur with a passion for decentralized technologies, Aki has a proven track record of building successful ventures. As the Co-founder & President of MarketMuse, an AI-powered content optimization platform, and an advisor to Dakai.io, the firm behind El Salvador's Bitcoin wallet, Chivo, Aki brings extensive experience in blockchain and AI to the helm of dlcBTC. His background also includes venture capital investing at OpenView Venture Partners and holding two patents in semantic analysis, further solidifying his expertise in technology and innovation.
• Jesse Eisenberg, Co-founder & CTO: A seasoned software developer and engineering manager, Jesse is the driving force behind dlcBTC's technological advancements. With pivotal roles at renowned institutions like Pivotal Labs and Twitter, Jesse has consistently delivered impactful technology solutions. His deep understanding of software engineering, Web3 platforms, and decentralized technology makes him an invaluable asset in leading dlcBTC's product and engineering teams.

Current Investors

dlcBTC is backed by prominent investors, including OKX Ventures, ABCDE, Waterdrip Capital, Foresight Ventures, Animoca Ventures, Bixin, and others, demonstrating strong confidence in its potential to revolutionize the way Bitcoin interacts with DeFi.

Where Can I Buy dlcBTC (dlBTC)?

The dlcBTC token cannot be purchased directly but is acquired by swapping for it on decentralized exchanges (DEXs). Currently, it's available for swapping on Curve, Uniswap, and Balancer, with plans to expand to more DEXs and centralized exchanges in the near future.