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James-

Are dBTC backed 1:1 to btc?

#blockchain #cryptocurrency #defichain #english
0

2 ответов

16 просмотров
DanieL-BaptistA

Yes. Cake acts as custodial for the unwrapped BTC that is sent in or out of Defichain currently. There is unbacked BTC created by an exploit on the atomic swap functionality that was created by Defichain to allow incoming and outgoing of BTC without the need of Cake. Unfortunatelly, the exploit allowed the creation of unbacked BTC and when it was detected, it was disabled to stop it from being used by malicious actors. From that moment on, is currently being perfected and fees are being charged in the respective pool and being burned to level the unbacked BTC doen until there is no unbaked BTC on Defichain.

0
11.06.2022
James- Автор вопроса
DanieL BaptistA
Yes. Cake acts as custodial for the unwrapped BTC ...

So in worst case scenario if there is a bank run would cake be able to cover my BTC?

0
11.06.2022

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