Polygon Bridged WBTC (Polygon POS) is a token designed to facilitate the transfer of Wrapped Bitcoin (WBTC) between the Ethereum and Polygon networks. It functions as a pegged token, aiming to maintain a 1:1 value with WBTC on the Polygon blockchain. This allows users to utilize Bitcoin's value within the Polygon ecosystem's decentralized finance (DeFi) applications and other protocols.

Overview

Polygon Bridged WBTC (Polygon POS) represents Wrapped Bitcoin (WBTC) that has been transferred from the Ethereum network to the Polygon network via a bridging mechanism. The primary purpose of this token is to enable the use of Bitcoin's liquidity and value within the Polygon ecosystem, which is known for its lower transaction fees and faster processing speeds compared to the Ethereum mainnet. By bridging WBTC, users can participate in Polygon-based DeFi activities such as lending, borrowing, and trading on decentralized exchanges without needing to convert their Bitcoin into other native Polygon assets. The token is listed on various cryptocurrency data platforms, where its price and market statistics are tracked. As of July 2025, it holds a market capitalization of over $330 million and is ranked among the top 250 cryptocurrencies by market cap. ^{[1] [2] [4] [5]}

Technology

The core technology behind Polygon Bridged WBTC (Polygon POS) involves a cross-chain bridge that connects the Ethereum and Polygon networks. The process typically involves locking an amount of WBTC on the Ethereum blockchain. Once the WBTC is locked on Ethereum, an equivalent amount of Polygon Bridged WBTC (WBTC) is minted on the Polygon blockchain. This mechanism ensures that the total supply of WBTC across both chains remains consistent, with the bridged tokens on Polygon being backed 1:1 by the locked WBTC on Ethereum. When a user wishes to move their WBTC back to the Ethereum network, the Polygon Bridged WBTC is burned on Polygon, and the corresponding WBTC is unlocked on Ethereum. This lock-and-mint and burn-and-release process is fundamental to maintaining the peg between the bridged asset and its underlying asset. ^[1]

Tokenomics

The tokenomics of Polygon Bridged WBTC (Polygon POS) are directly tied to the supply of WBTC that has been bridged onto the Polygon network. The circulating supply of Polygon Bridged WBTC represents the amount of WBTC currently active and usable within the Polygon ecosystem. The total supply reflects the cumulative amount of WBTC that has been minted on Polygon. Because it is a pegged token representing an asset locked on another chain, its supply on Polygon is dependent on the bridging activity. The maximum supply is often listed as infinite, as there is no hard cap on how much WBTC can theoretically be bridged, limited only by the total supply of WBTC itself. The market capitalization is calculated by multiplying the current price of the token by its circulating supply. The fully diluted valuation (FDV) is the theoretical market cap if the total supply were in circulation, which in the case of a 1:1 pegged token like this, is typically equal to the market cap when the circulating supply equals the total supply. As of July 2025, the circulating and total supply were approximately 3,034 tokens, resulting in a market cap and FDV around $337 million. ^{[1] [2] [3]}

Markets and Trading

Polygon Bridged WBTC (Polygon POS) can be traded on various decentralized exchanges (DEXs) operating on the Polygon network. These platforms allow users to swap WBTC for other cryptocurrencies and stablecoins available within the Polygon ecosystem. Some of the prominent decentralized exchanges where WBTC can be traded include Uniswap V3 (Polygon), Quickswap (v3), and Uniswap V4 (Polygon). Trading pairs often involve stablecoins like USDC.E and USDC, as well as wrapped Ethereum (WETH). The daily trading volume for Polygon Bridged WBTC fluctuates, reflecting the level of activity and liquidity on these decentralized exchanges. The price of Polygon Bridged WBTC is typically closely pegged to the price of WBTC and Bitcoin, with minor variations due to market dynamics and bridging costs. ^[1]

Related Projects

Polygon Bridged WBTC is part of a broader category of "bridged tokens" that aim to increase interoperability between different blockchain networks. Similar bridged versions of WBTC exist on other blockchain ecosystems, allowing users to transfer Bitcoin's value to those networks. Examples include Arbitrum Bridged WBTC (Arbitrum One), Optimism Bridged WBTC (Optimism), Cronos Bridged WBTC (Cronos), and Avalanche Bridged WBTC (Avalanche). These tokens serve a similar function within their respective ecosystems, enabling cross-chain transfers and participation in DeFi activities on those networks using a Bitcoin-pegged asset. ^[1]