renBTC company info

What does renBTC do?
renBTC (CRYPTO:RENBTC) is a decentralized protocol that allows users to mint and burn Bitcoin (BTC) on the Ethereum blockchain. It is a wrapped Bitcoin token, which means that it is backed by a 1:1 reserve of BTC. renBTC can be used in Ethereum-based DeFi applications, such as decentralized exchanges (DEXes) and lending protocols. The renBTC protocol is operated by a network of nodes called Darknodes. Darknodes are responsible for locking up BTC and minting renBTC tokens. They also provide security and liquidity to the renBTC network. renBTC is a popular choice for users who want to use Bitcoin in Ethereum-based DeFi applications. It offers a number of advantages over other wrapped Bitcoin tokens, such as lower fees and faster transaction times. renBTC is also a popular choice for users who want to earn interest on their Bitcoin. renBTC can be deposited into lending protocols to earn interest in ETH or other cryptocurrencies. renBTC's objective is to make Bitcoin more accessible and usable in the DeFi ecosystem. By allowing users to mint and burn BTC on the Ethereum blockchain, renBTC makes it possible to use Bitcoin in a wider range of DeFi applications.
renBTC company media
Company Snapshot

How many people does renBTC employ?

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Employees
50-200

What is the market cap for renBTC?

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Market Cap
$20.03M

Where is the head office for renBTC?

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Head Office
London, England

What year was renBTC founded?

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Year Founded
2017
What does renBTC specialise in?
/BNB Chain /DeFi /Fantom Ecosystem /Wrapped Tokens

What are the products and/or services of renBTC?

Overview of renBTC offerings
Accessing Bitcoin liquidity on Ethereum: renBTC provides users with access to Bitcoin liquidity on the Ethereum blockchain. This is useful for users who want to use Bitcoin in Ethereum-based DeFi applications or who want to trade Bitcoin without having to withdraw it to a centralized exchange.
Lending renBTC to earn interest: renBTC can be deposited into lending protocols to earn interest in ETH or other cryptocurrencies. This is a great way to generate passive income on your Bitcoin holdings.
Minting and burning Bitcoin (BTC) on Ethereum: renBTC allows users to mint renBTC tokens by locking up BTC in a smart contract. Conversely, users can burn renBTC tokens to redeem BTC.
Paying for goods and services with renBTC: A growing number of merchants accept renBTC as a form of payment. This allows users to spend their Bitcoin without having to convert it to fiat currency.
Trading renBTC on decentralized exchanges (DEXes): renBTC can be traded on a variety of DEXes, such as Uniswap and Sushiswap. This allows users to exchange renBTC for other cryptocurrencies, such as ETH and DAI.
Using renBTC in DeFi applications: renBTC can be used in a variety of DeFi applications, such as yield farming and liquidity mining. This allows users to generate additional yield on their Bitcoin holdings.