Гаманець для Geist WBTC

What is Geist WBTC (GWBTC)?

Behind gWBTC there are two wrappers and a bridge. WBTC on Ethereum is custodial bitcoin in ERC-20 form; the Fantom version of it is that token carried across a bridge; gWBTC is the receipt for depositing the Fantom version into Geist's Aave v2 style lending market. Every layer has to hold for the top one to mean anything, and redeeming the receipt returns the Fantom token rather than bitcoin.

One small practical thing catches people out: gWBTC inherits bitcoin's 8 decimals rather than the 18 that most tokens on Fantom use. Balances display as 0.01250000, amounts look tiny next to FTM figures, and an amount field is easy to get wrong by a factor of a hundred. Count the digits before signing.

The quantity also rises on its own as borrowers pay interest into the WBTC pool, withdrawal depends on the pool having liquidity free, and gas for any of it is FTM, which has to be in the same address.

A wrapped, bridged, deposited bitcoin claim is the kind of thing people set aside and leave alone. The key for it is created inside the Tangem card's secure chip and stays there; a duplicate card kept in another place carries the same key, and a seed phrase is available if you want that option rather than required. Supported networks in Tangem (1): Fantom. Rarely used keys are precisely what a card like this is good at holding.