About sBTC

sBTC is a synthetic Bitcoin token enabled by the synthetix protocol. sBTC tracks the price of Bitcoin through price feeds supplied by Chainlink’s decentralized network of oracles. Synthetic assets (Synths) are derivatives that provide exposure to real-world assets on the Ethereum blockchain. Synths allow users to hedge and reduce their risk, speculate on price movements, and gain access to unavailable assets or markets. Through the use of sBTC, all this happens without an individual holding the underlying asset. The token aims to increase its value with time. The protocol will utilize the built-in smart contract token contraction and expansion algorithm, variable staking policies, and sBTC Foundation reserves to achieve this. To acquire sBTC, users must first obtain Synthetix Network Token, Synthetix’s native token (SNX).