Description
interBTC is a trustless Bitcoin bridge that lets users lock native BTC with decentralized vault operators and mint iBTC at a 1:1 ratio on the Interlay Polkadot parachain. Vault operators deposit overcollateralized assets such as DOT or USDT as insurance, with collateral slashed to reimburse depositors in the event of vault failure. iBTC is redeemable for native BTC on the Bitcoin blockchain at any time without reliance on a central intermediary.