Wrapped Bitcoin (WBTC) went live on Ethereum at the beginning of 2019. It is an ERC-20 token backed 1:1 with real Bitcoin and is intended to capture the benefits that can result from the tokenization of the Bitcoin cryptocurrency.
On May 3, 2020, WBTC, was approved as a new collateral asset by MRK holders on MakerDAO. Prior to that, there were only three options: ETH, BAT, and USDC.
It is vital that we capture and analyze the data from the inception of such initiatives to see how WBTC is impacting Ethereum DeFi. This report allows readers to understand the biggest events in May and how dapps are evolving as a result.
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