{"id":"pumpbtc","title":"pumpBTC","content":"**pumpBTC (PUMPBTC)** is a [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) project that provides a [liquid staking](https://iq.wiki/wiki/liquid-staking) solution for [Bitcoin](https://iq.wiki/wiki/bitcoin) through integration with the Babylon protocol. The system enables holders of tokenized Bitcoin (such as [WBTC](https://iq.wiki/wiki/wrapped-bitcoin-wbtc), BTCB, and similar tokens) to deposit their assets and receive pumpBTC tokens in exchange. These tokens accumulate yield over time according to the operational mechanisms of the Babylon protocol while maintaining asset liquidity. [[1]](#cite-id-RE9q1dZyWb) [[11]](#cite-id-1lYqK12qfd)\n$$widget0 [YOUTUBE@VID](https://www.youtube.com/watch?v=ZzRW-1I75O8)$$\n## Overview\n\npumpBTC functions as a liquid restaking protocol within the [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) ecosystem. The project converts tokenized [Bitcoin](https://iq.wiki/wiki/bitcoin) into pumpBTC tokens so that holders can participate in yield generation without permanently locking their assets. Key characteristics of the protocol include:\n- **Liquid Staking:** Users deposit various forms of tokenized [Bitcoin](https://iq.wiki/wiki/bitcoin) as collateral and, in return, receive pumpBTC tokens that represent their staked assets. These tokens accrue yield over time.\n- **Multi-Chain Integration:** Initially deployed on networks such as Binance Smart Chain (BSC) and [Ethereum](https://iq.wiki/wiki/ethereum), pumpBTC is designed to extend support to additional [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm)-compatible chains to facilitate cross-chain participation.\n- **Custodial Partnerships:** The protocol works with licensed custodians (for example, Cobo MPC and Coincover) to secure funds. This arrangement is intended to mitigate risks associated with asset bridging and to ensure that the staked tokens are backed by native Bitcoin reserves.\n- **On-Chain Transparency:** pumpBTC provides a real-time dashboard that displays proof-of-asset data, enabling stakeholders to monitor the status of staked assets and accrued yields. [[1]](#cite-id-RE9q1dZyWb) [[11]](#cite-id-1lYqK12qfd) [[3]](#cite-id-1lev9CCzLP)\n\n## History\n\npumpBTC was developed in 2024 to address the need for [liquid staking](https://iq.wiki/wiki/liquid-staking) mechanisms for [Bitcoin](https://iq.wiki/wiki/bitcoin) within the [DeFi](https://iq.wiki/wiki/defi) sector. The project was conceived as an alternative to traditional Bitcoin [staking](https://iq.wiki/wiki/staking) methods, which typically require long-term asset locking. Early fundraising and token sale events were conducted to support development, and the project underwent audits and security reviews by established firms.\n\nSince its launch, pumpBTC has focused on integrating with various [blockchain](https://iq.wiki/wiki/blockchain) networks. Its development process has involved continuous work on expanding network compatibility and refining the protocol’s security and operational features.\n\n## Technology\n\npumpBTC’s framework is based on a series of [smart contracts](https://iq.wiki/wiki/smart-contract) that manage [staking](https://iq.wiki/wiki/staking), yield accrual, and cross-chain functionality. The technical components include:\n- **Dual-Token Mechanism:**\nWhen tokenized [Bitcoin](https://iq.wiki/wiki/bitcoin) is deposited (for example, [WBTC](https://iq.wiki/wiki/wrapped-bitcoin-wbtc) or BTCB), pumpBTC tokens are minted at an initial 1:1 ratio with the underlying asset. As yield is generated through the Babylon protocol, the token’s value is adjusted accordingly.\n- **Mint and Burn Process:**\nThe protocol supports operations that mint pumpBTC tokens when assets are staked and [burn](https://iq.wiki/wiki/token-burn) tokens when unstaking occurs, subsequently releasing the underlying collateral. This process is managed by the [smart contracts](https://iq.wiki/wiki/smart-contract) to ensure that tokens remain backed by reserves.\n- **Cross-Chain Functionality:**\npumpBTC is deployed on multiple [blockchain](https://iq.wiki/wiki/blockchain) networks. Tokens can be transferred between chains through a mechanism that burns tokens on the source chain and mints them on the destination chain. This maintains a consistent total supply while enabling interoperability.\n- **Custody and Security Measures:**\nThe project uses third-party custodial services to delegate native Bitcoin to Babylon’s finality providers and to distribute yield rewards. This design minimizes direct handling of assets by the protocol and aims to lower security risks.\n- **Transparency and Auditing:**\nThe protocol provides on-chain dashboards and publishes audit reports that detail metrics such as [total value locked](https://iq.wiki/wiki/tvl) (TVL), yield accrual, and asset custody. These measures contribute to operational transparency. [[1]](#cite-id-RE9q1dZyWb) [[11]](#cite-id-1lYqK12qfd) [[4]](#cite-id-rEuGd7nvZg) [[2]](#cite-id-ISWTygJii4)\n\n## Tokenomics\n\npumpBTC issues its native token (PUMPBTC) to represent staked assets. The [tokenomics](https://iq.wiki/wiki/tokenomics) are defined in the project’s smart contracts and are structured to ensure that each pumpBTC token is backed on a 1:1 basis by native Bitcoin held in reserve via custodial arrangements. Important elements include:\n- **Supply Metrics:**\nThe total supply of pumpBTC tokens is determined by the smart contract parameters, with the [circulating supply](https://iq.wiki/wiki/circulating-supply) representing the tokens in active use across supported networks.\n- **Yield Accrual:**\nYields generated by the Babylon protocol are automatically reflected in the value of pumpBTC tokens, creating a passive income mechanism for stakers.\n- **Governance:**\nThe pumpBTC token may also serve a [governance](https://iq.wiki/wiki/governance-tokens) function, allowing stakeholders to participate in protocol decisions and upgrades, as specified in the project documentation. [[10]](#cite-id-A5xX8pTKsM) [[7]](#cite-id-65tuobQ6WP) [[1]](#cite-id-RE9q1dZyWb) [[2]](#cite-id-ISWTygJii4)\n\n## Use Cases\n\npumpBTC is designed to serve several functions within the [Bitcoin](https://iq.wiki/wiki/bitcoin) and [DeFi](https://iq.wiki/wiki/defi-dave) sectors:\n- **Liquid Staking:**\nBy enabling the [staking](https://iq.wiki/wiki/staking) of tokenized Bitcoin while preserving liquidity, the protocol offers an alternative to conventional staking that typically requires long-term lock-up of assets.\n- **Cross-Chain Participation:**\nWith its multi-chain support, pumpBTC facilitates participation in a variety of DeFi protocols, enabling interaction with multiple applications and services.\n- **Risk Mitigation:**\nThe use of audited smart contracts and collaboration with licensed custodians contributes to a secure staking environment that aims to reduce risks associated with asset bridging and direct custody. [[1]](#cite-id-RE9q1dZyWb) [[2]](#cite-id-ISWTygJii4)\n\n## Partnerships\n\nPumpBTC has established partnerships with various projects in the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) space. The platform collaborates with Babylon, a Shared Security Protocol that leverages Bitcoin to enhance the security of other [Proof-of-Stake](https://iq.wiki/wiki/proof-of-stake) chains [[2]](#cite-id-ISWTygJii4).\n\nThe platform also works with professional custodians like [Cobo](https://iq.wiki/wiki/cobo-argus) and Coincover to secure user assets. Additionally, PumpBTC has integrated with multiple DeFi platforms, allowing users to utilize their pumpBTC tokens across various applications [[4]](#cite-id-rEuGd7nvZg).\n\nSome of the integrated platforms include:\n- [Pendle Finance](https://iq.wiki/wiki/pendle-finance) for yield boosting;\n- [ListaDAO](https://iq.wiki/wiki/listadao) for using pumpBTC as collateral;\n- [Synfutures](https://iq.wiki/wiki/synfutures) Vault for deposits;\n- KiloEx Hybrid Vault for deposits;\n- Avalon on [Zetachain](https://iq.wiki/wiki/zetachain-zeta) and [Ethereum](https://iq.wiki/wiki/ethereum) for deposits.\n\n## Future Developments\n\nPumpBTC plans to support native BTC [staking](https://iq.wiki/wiki/staking) in Stage 2 of its development. This will allow users to stake native BTC and mint pumpBTC on various [EVM](https://iq.wiki/wiki/ethereum-virtual-machine-evm) chains to unlock [DeFi](https://iq.wiki/wiki/defi) functionality and earn points [[2]](#cite-id-ISWTygJii4).\n\nThe platform also plans to support withdrawals once Babylon is live. Users will either wait for a 7-day unstaking period or use an instant withdrawal solution [[2]](#cite-id-ISWTygJii4).\n\nAdditionally, PumpBTC is in ongoing discussions with prominent networks like [Scroll](https://iq.wiki/wiki/scroll), Fuel, Zircuit, and [Karak](https://iq.wiki/wiki/karak) to introduce additional Point-earning opportunities for depositing or using pumpBTC on these [Layer 2](https://iq.wiki/wiki/layer-2) networks [[2]](#cite-id-ISWTygJii4).\n\npumpBTC (PUMPBTC) is a [liquid staking](https://iq.wiki/wiki/liquid-staking) protocol that integrates [Bitcoin](https://iq.wiki/wiki/bitcoin) into the [DeFi](https://iq.wiki/wiki/defi) ecosystem by converting tokenized Bitcoin into yield-bearing pumpBTC tokens. The project emphasizes multi-chain compatibility, secure asset management through licensed custodians, and transparency via on-chain dashboards and regular audits. Its smart contract architecture manages the [minting](https://iq.wiki/wiki/minting), [burning](https://iq.wiki/wiki/token-burn), and cross-chain transfer of pumpBTC tokens, ensuring that each token is fully backed by native Bitcoin reserves. As pumpBTC continues to evolve and expand its network support, it represents a structured approach to addressing limitations in traditional Bitcoin [staking](https://iq.wiki/wiki/staking) within a decentralized finance framework. [[1]](#cite-id-RE9q1dZyWb) [[2]](#cite-id-ISWTygJii4) [[3]](#cite-id-1lev9CCzLP) [[4]](#cite-id-rEuGd7nvZg) [[5]](#cite-id-Ngnmd0enDz) [[6]](#cite-id-MoeXLhNhay) [[7]](#cite-id-65tuobQ6WP) [[8]](#cite-id-BdFvyh9h10) [[9]](#cite-id-YANUR1OX4A)","summary":"pumpBTC is a liquid staking solution for Bitcoin, enhancing DeFi integration and yield maximization for BTC holders.","images":[{"id":"QmNwkiMjJZoihUNyRcQd8iubb15Es53k4kyf431u4wR6Fj","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Protocols"},{"id":"DEXes"},{"id":"Marketplaces"}],"media":[{"id":"QmdUH7tx6wSCZh1E2yqXRHdwfcpr8M2cn1MoBpx31vwS7q","name":"32272 (1).png","caption":"","thumbnail":"QmdUH7tx6wSCZh1E2yqXRHdwfcpr8M2cn1MoBpx31vwS7q","source":"IPFS_IMG"},{"id":"QmSJhRDSdEt9ofzrA1pyA7JbfPdNcFnRtJBbLXHFhoDdp3","name":"Design sem nome.png","caption":"","thumbnail":"QmSJhRDSdEt9ofzrA1pyA7JbfPdNcFnRtJBbLXHFhoDdp3","source":"IPFS_IMG"},{"id":"QmPeo82G6TYAfLAk6gBEtCLdeLg4DZx7jmMJLoHBKnuukV","name":"logo-D-vEVGcr.png","caption":"","thumbnail":"QmPeo82G6TYAfLAk6gBEtCLdeLg4DZx7jmMJLoHBKnuukV","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=ZzRW-1I75O8","name":"ZzRW-1I75O8","caption":"","thumbnail":"https://www.youtube.com/watch?v=ZzRW-1I75O8","source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"RE9q1dZyWb\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc\",\"description\":\"Official Documentation\",\"timestamp\":1743561297677},{\"id\":\"ISWTygJii4\",\"url\":\"https://mainnet.pumpbtc.xyz/\",\"description\":\"PumpBTC Website\",\"timestamp\":1743561297677},{\"id\":\"1lev9CCzLP\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc/tech-specs/mint-and-burn-process\",\"description\":\"Mint & Burn Documentation\",\"timestamp\":1743561297677},{\"id\":\"rEuGd7nvZg\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc/step-by-step-guides\",\"description\":\"Step-by-Step Guides\",\"timestamp\":1743561297677},{\"id\":\"Ngnmd0enDz\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc/custody-and-security/cobo-mpc-case-study\",\"description\":\"Cobo MPC Case Study\",\"timestamp\":1743561297677},{\"id\":\"MoeXLhNhay\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc/resources/key-address\",\"description\":\"Key Addresses\",\"timestamp\":1743561297677},{\"id\":\"65tuobQ6WP\",\"url\":\"https://www.coingecko.com/en/coins/pumpbtc\",\"description\":\"CoinGecko\",\"timestamp\":1743561297677},{\"id\":\"BdFvyh9h10\",\"url\":\"https://pumpbtc.gitbook.io/pumpbtc/points-and-referral-program/pumpbtc-referral-program\",\"description\":\"Referral Program Documentation\",\"timestamp\":1743561297677},{\"id\":\"YANUR1OX4A\",\"url\":\"https://x.com/pumpbtcxyz\",\"description\":\"PumpBTC Twitter\",\"timestamp\":1743561297677},{\"id\":\"A5xX8pTKsM\",\"description\":\"CoinMarketCap: Pumpbtc\",\"timestamp\":1743562172981,\"url\":\"https://coinmarketcap.com/currencies/pumpbtc-pump/\"},{\"id\":\"1lYqK12qfd\",\"description\":\"Whitepaper: Pumpbtc\",\"timestamp\":1743562204380,\"url\":\"https://drive.google.com/file/d/1X6LUHklR7wOBx2VAsRhSc--zzFm3SL3C/view\"}]"},{"id":"website","value":"https://mainnet.pumpbtc.xyz/"},{"id":"github_profile","value":"https://github.com/pumpbtc/pumpBTC-contract"},{"id":"discord_profile","value":"https://discord.gg/pumpbtc"},{"id":"twitter_profile","value":"https://twitter.com/Pumpbtcxyz"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/pumpbtc"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/pumpbtc-pump/"},{"id":"contract_url","value":"https://bscscan.com/token/0xB7C0007ab75350c582d5eAb1862b872B5cF53F0C"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmWkBHVR4wpYQkCWrqusow5h51q7H6NyF7v77uzKa9Q13d\""},{"id":"commit-message","value":"\"Republished the pumpBTC wiki with updated content and media.\""},{"id":"previous_cid","value":"QmWkBHVR4wpYQkCWrqusow5h51q7H6NyF7v77uzKa9Q13d"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}