The Libre pBTC page of Bitcoin Layers is under development.

We have not yet implemented our proof-of-reserves and therefore cannot assure you that wrappers are fully backed, 1:1, with BTC. Please use caution interacting with these wrapped BTC assets. Additionally, there may be incomplete or outdated research.

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Libre pBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

Under review.

Assessment

Asset Custody

Libre's bridge relies on a third party provider. Signers are permissioned nodes from the pNetwork

BTC users who deposit funds onto Libre do so via the pNetwork bridge. A limited group of signers operate the bridge.

⚠️ The pNetwork bridge has historically seen two exploits occur. One of those exploits involved BTC-backed tokens.

pBTC deposits are no longer being accepted. Users have to manually withdraw funds.

Source

Further sections to be reviewed

Aspects related to BTC custody, key management, transaction signing, and redemptions have not been reviewed. We are currently reviewing these sections.