The Liquid L-BTC 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 Additionally, there may be incomplete or outdated research.

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Liquid L-BTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

Liquid LBTC is the native token for the Liquid sidechain. The BTC backing LBTC is secured by an 11/15 federation.

Assessment

Asset Custody

Users trust a federation with custody of their BTC

The BTC that backs L-BTC is held in a 11-15 multi-sig wallet where 11 (⅔ + 1) of the signers would need to be compromised in order to steal the BTC. Signers additionally operate HSM hardware to secure private keys used for signing.

Not all of the signers of this federation are publicly known.

Users trust Liquid to have a signer set that is globally distributed.

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.