Bitlayer has teamed up with Kamino Finance and Orca to bring a Bitcoin backed token called YBTC onto the Solana blockchain. Think of it as a new bridge that lets Bitcoin holders do more with their coins, faster and more flexibly.
One to One Bitcoin Backing, No Middlemen
YBTC is pegged 1:1 to Bitcoin, meaning every YBTC token is backed by real BTC locked away.
You can always redeem your YBTC for actual Bitcoin, and the system doesn’t rely on a central keeper it uses a trust minimized bridge (BitVM) instead, aiming to keep things safe and transparent.
Faster and Cheaper DeFi on Solana
With YBTC on Solana, users can tap into yield-generating options through Kamino's automated vaults these put your Bitcoin to work, earning returns over time, all on Solana’s speedy and low cost network. Plus, Orca makes trading YBTC smooth and efficient, offering low slippage swaps through its smart liquidity pools.
Complete Control, Anytime Redemption
Even though your Bitcoin can be used within Solana’s DeFi world, you’re never stuck. You can redeem YBTC for native BTC anytime, giving you full control over your assets.
Tested on the Move
In addition to Solana, Bitlayer’s trust minimized bridge is already working with other blockchains like Sui, Base and Cardano.
They’re also running an incentive program for early users during their mainnet beta offering rewards in their native token, BTR.
YBTC brings real Bitcoin into the fast moving world of Solana DeFi, letting you earn yield, trade easily and redeem your actual BTC whenever you want all without trusting a central custodian. It’s a big step toward making Bitcoin more useful in decentralized finance.
