Bool bBTC
Overview
Status
Mainnet
Type
Reserve
BTC Supply
₿0
Bool Network is an infrastructure provider currently managing a wrapped BTC reserve asset, bBTC, for a number of Bitcoin scaling protocols. The Bitcoin wallets it manages are secured by an MPC Protocol.
Assessment
Asset Custody
Users trust the Bool Network and various layers to implement secure custody practices for BTC backing bBTC
The Bool Network has not disclosed its custody mechanism for BTC backing bBTC across the various networks its deployed on. In its documentation, it references a custody mechanism that would see an approved entity be able to set up a 2-2 multisig between Bool and the entity.
It is possible this is the set up for bBTC custody across the chains its deployed on. In any case, users trust that Bool Network and the development teams behind specific networks have set up secure custody practices.
Source
It is possible this is the set up for bBTC custody across the chains its deployed on. In any case, users trust that Bool Network and the development teams behind specific networks have set up secure custody practices.
Source
Further sections to be reviewed
Aspects related to minting & burning, key management, transaction signing, and proof-of-reserves have not been reviewed. We are currently reviewing these sections.