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That’s a fair point Alexei! It appears so cause of the categorisation on the platform. The bane of building actually unique cutting edge products is it takes time for information to propagate. iBTC is a truly non-custodial solution for using bitcoin in DeFi. The way it works is a merchant like @ambergroup_io (a designated minter) locks their bitcoin in a discreet log contract - DLCs are very cool you should definitely look it up but in short its like smart contracts on bitcoin built on Layer 1 by the same folks who built lightning network. A pre-signed transaction while locking the bitcoin in the DLC ensures that only the original depositor wallet can receive back the bitcoin even in case of a hack. which makes iBTC - theft proof (only in the world) A set of attestors including @everstake_pool, @PierTwo_com @ValidationCloud @DeSpreadTeam @HashKeyCloud @stakin they work together to validate mint and burn of iBTC tokens. furthermore @chainlink proof of reserves are maintained for all iBTC in circulation. In conclusion Native BTC -> self-custodial locked on BTC L1 -> attestors validate for mint and burn (1:1 BTC:iBTC) -> chainlink proof of reserves for max security Happy to answer any questions or discuss implementation of the only bridge-less wrapped bitcoin in DeFi on Bitcoin L2s or anywhere else. PS: Bridgeless cause bitcoin never leaves layer 1 security

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