❗️🚀Today, we are excited to announce a community-driven initiative that brings Bitcoin to Ethereum, through the creation of Wrapped Bitcoin Tokens (WBTC), an ERC20 token fully backed by real BTC and stored by regulated custodians. The proof of reserves is on-chain, which shows the exact 1:1 ratio between minted #WBTC tokens and #Bitcoin stored by the custodians. When WBTC token holders redeem their tokens for Bitcoin, the tokens are burned. The minting and burning of tokens is in turn tracked and verifiable on the blockchains. Read more here: https://blog.kyber.network/wbtc-a-community-effort-to-bring-bitcoin-to-ethereum-b9b63e3b86e6