The Obelisk oBTC 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 Additionally, there may be incomplete or outdated research.

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Obelisk oBTC

Overview

Status

Mainnet

Type

Reserve

BTC Supply

₿0

Obelisk oBTC is a reserve asset that is live on various EVM-compatible networks.

Assessment

Asset Custody

Users trust centralized signers to secure BTC backing oBTC

Obelisk's documentation claims that users deposit BTC into an MPC scheme to mint oBTC on a respective destination chain.

Users trust Obelisk's claims in their documentation are being executed in practice.

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.