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The tether-ization of wBTC

Jul 23, 2020 ⋅  6 min read

The amount of tokenized bitcoin on Ethereum has grown 16x this year surpassing $150 million locked. Similar to how tether has come to dominate the stablecoin landscape, the leading player WBTC is another custodial synthetic asset. This is because the market seems to signal a preference towards utility over ideology with trusted models winning over their trustless counterparts.

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