interBTC (IBTC)

interBTC is a 1:1 Bitcoin backed asset that can be used to invest, earn and pay with BTC across the DeFi ecosystem on Polkadot, Ethereum, Cosmos and many more. What makes interBTC unique is the strict dedication to being trustless and decentralized: 1) Secured by Insurance. Vaults lock collateral on the interBTC parachain in various digital assets - in a MakerDAO-inspired multi-collateral system. If Vaults misbehave, their collateral is slashed and users reimbursed. As a user, you only trust that Bitcoin and the DeFi platform you use are secure. 2) Radically Open. Anyone can become a Vault and help secure interBTC, anytime. Yes, you can run your own Vault!