eBTC – stETH backed BTC lending

Why you should listen
eBTC is a protocol that allows anyone to borrow synthetic Bitcoin assets without borrowing fees using Lido’s stETH (Staked Ether) as collateral. Powered by non-custodial, immutable, minimal-governance smart contracts, this blockchain aims to be the most trustless and censorship-resistant synthetic Bitcoin in DeFi.
eBTC is the first protocol to focus solely on the ETH/BTC ratio. While most trades and strategies for this pair are currently performed off-chain using centralized counterparties, eBTC now allows users to bring this activity on-chain with extreme transparency. Additionally, immutability and composability allow any protocol to integrate its functionality and build on top of it.
A vision sparked by the highly publicized financial meltdown of 2022, eBTC was designed as a response to the shortcomings of centralized and opaque financial infrastructure commonly found within the blockchain space. By moving more ETH/BTC activity on-chain within immutable smart contracts, eBTC moves the space further away from the centralized solutions for borrowing Bitcoin currently seen in the market.
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