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Metrics from the first month of tBTC’s second launch

Quick Take

tBTC is a fully backed ERC-20 token pegged to the price of bitcoin. The BTC held on the Bitcoin blockchain is backed by a 150% ETH overcollateralization on the Ethereum chain
After an initial launch in May 2020, a bug that was discovered pushed the release of the protocol to last month
There are 632 tBTC minted (~$7.2 million), and tBTC currently makes up 0.43% of the BTC supply on the Ethereum blockchain


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