Scan to Download CoinWorldCap App
Function Bitcoin is a one-to-one Bitcoin-backed asset designed for institutional yield strategies in decentralized finance. Backed by Mantle and Antalpha Prime, it enables omnichain composability across networks like Ethereum and Base. Users may engage in lending, staking, and liquidity provisioning while maintaining Bitcoin’s native security through structured, risk-managed frameworks.
Function is establishing a novel benchmark for Bitcoin yield, converting BTC into a secure, composable, and institutionally trusted asset within decentralized finance. As the initial omnichain Bitcoin yield asset, FBTC allows BTC holders to engage in structured, risk-managed yield strategies. The project receives backing from Galaxy Digital, Mantle, Antalpha Prime, and other leading institutions.
ƒBTC ($FBTC) is a 1:1 Bitcoin-backed asset with full reserves. It allows institutional users to engage in omnichain, structured yield strategies within DeFi lending, staking, and liquidity markets, all while preserving Bitcoin’s native security and sovereignty. The project presents a formulaic standard to enhance Bitcoin’s utility in DeFi through a structured approach. According to its framework, defined by the equation ƒ(BTC) = Liquidity + Composability + Capital Efficiency, this model aims to transform Bitcoin from a static holding into a dynamic financial instrument.
Although Bitcoin stands as the most valuable digital asset globally, its participation in DeFi has traditionally been restricted by scattered liquidity and a lack of secure, institutional-quality options. ƒBTC fills this void by converting BTC into an asset that generates value, all while upholding essential standards of decentralization and security.
The rebranding highlights Function’s commitment to three core areas:
Function Bitcoin ($FBTC) is built to function across multiple blockchain networks. At the start, it will follow the ERC-20 token standard, which enables its use throughout the wider Ethereum ecosystem. Holders can swap $FBTC on decentralized exchanges and access a range of DeFi options via compatible platforms and protocols.
Specific DeFi applications for $FBTC encompass liquidity pools, token swapping, yield farming, restaking rewards, lending and borrowing, as well as funding rate arbitrage. Protocols and platforms that currently support $ƒBTC include Uniswap, OpenBit, Merchant Moe, Lendle, Ethena, StakeStone, PumpBTC, Lorenzo, Bedrock, Lombard, and Avalon.
You can trade $FBTC on an increasing selection of decentralized exchanges and aggregators, where crypto pairs are currently listed.
As of July 2024, [Uniswap] provides WBTC/FBTC liquidity on Ethereum. [DODO] also supports WBTC/FBTC on both Ethereum and Mantle Network as of July 2024. On Mantle Network, [Merchant Moe] and [Agni Finance] each offer METH/FBTC liquidity as of July 2024.
You can trade $FBTC on an increasing selection of decentralized exchanges and aggregators, where crypto pairs are currently listed.
Mantle and Antalpha Prime provide backing for Fire Bitcoin ($FBTC). Mantle is the organization responsible for Mantle Network, which operates as an Ethereum layer 2 solution. Antalpha Prime serves as the world's leading platform for BTC ecosystem services.