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cWBTC
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cWBTC
Compound WBTC (cWBTC) is the cToken given to users who supply WBTC to the Compound protocol. Users can earn cWBTC by depositing WBTC. [1]
Overview
Compound Protocol is an Ethereum-based lending and borrowing protocol. The protocol provides cTokens, representing the funds a user has deposited in the Compound. cWBTC is a category of cTokens that users can receive in exchange for depositing WBTC.
Each asset integrated with the Compound Protocol is connected through a cToken contract, adhering to the EIP-20 standard for representing supplied balances. Minting cTokens provides users with the opportunity to earn interest through the cToken's exchange rate, which increases relative to the underlying asset, and enables the use of cTokens as collateral. [2]
In January 2019, the Compound community voted in favor of adding cWBTC to the Compound Protocol. The cWBTC smart contract was verified by Certora. [3]
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February 5, 2024