The Nomic nBTC 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 Additionally, there may be incomplete or outdated research.

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Nomic nBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

nBTC is the native token for the Nomic network. Nomic is a proof-of-stake blockchain prioritizing distributed BTC custody

Assessment

Asset Custody

BTC backing nBTC managed by a group of 20 publicly known signers who participate as validators in the Nomic blockchain

Users deposit BTC into a Reserve Wallet to receive nBTC on Nomic. The Reserve Wallet is a Bitcoin L1 multisig wallet managed by the Nomic signatory set. The Nomic signatory is made up of the top 20 Nomic validators measured by weighted stake.

Becoming a signatory requires staking NOM tokens. Disbursing funds from the reserve wallet requires a 90% threshold, weighted by voting power through NOM tokens.

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.