# sCIP#10 - Adding a Metapool for BBTC (Binance BTC) **URL:** \ **Category:** Proposals\ **Created:** [November 3, 2020, 12:13pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080 "2020-11-03T12:13:23Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![charlie\_eth](http://gov.curve.finance/user_avatar/gov.curve.finance/charlie_eth/32/646_2.png) [@charlie\_eth](http://gov.curve.finance/u/charlie_eth)\ **Post date:** [November 3, 2020, 12:13pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/1 "2020-11-03T12:13:24Z")
**Summary** : > **A proposal by The Binance Btoken Team, contact us: [buidl@binance.org](mailto:buidl@binance.org)** > BBTC (Binance BTC) is the ERC20 token on the Ethereum network created via the Binance Token Canal program, launched on the 31.Otc 2020. Binance will lock a portion of tokens on their own native chains and mint the same number of tokens as ERC20 tokens on Ethereum with a naming convention of BBTC. Deposits and withdrawals for BBTC are enabled on [binance.com](http://binance.com) by 31.Oct.2020 ([https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d](https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d)) **Motivation** : > BBTC Contract: ([https://etherscan.io/address/0x9be89d2a4cd102d8fecc6bf9da793be995c22541](https://etherscan.io/address/0x9be89d2a4cd102d8fecc6bf9da793be995c22541)) > BBTC was just launched last week, which is a very important strategy of the Binance and Binance community to support cross-chain assets and liquidities, and we are approaching/ adding liquidity to the top DeFi protocols of Ethereum; > Here’s the planned list we are going to add BBTC in the coming weeks: Uniswap, Aave, Curve, Compound, Cream, Fortube(Listed), MakerDao, Balancer, InstaDapp, and more. **Benefits** : > Larger User Bases and Liquidity Growth: > Binance is one of the largest crypto exchanges, and \>15m Binance communities can potentially contribute to the DeFi eco-system. BBTC will become an important bridge between CeFi and DeFi worlds, which will introduce quite decent liquidity in the DeFi eco-system in Ethererum. **Risks** : > - BBTC is an ERC20 token on the Ethereum network that represents a 1:1 peg of the same asset on their own blockchain. > - Heightened security and risk control measures for the wrapped tokens are in place, as well as using the SAFU fund to ensure the safety of users’ assets. > - BBTC might become an incentive token in the future, the holder will share a savings revenue of the BBTC they hold. (features are in design). **References** : > Binance Token Canal Enables Wrapped BTokens on Ethereum > [https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d](https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d) > Token Canal Upgrade: Binance Wrapped BTokens on Ethereum, Panama Turns into Bridge > [https://www.binance.com/en/blog/421499824684901158/Token-Canal-Upgrade-Binance-Wrapped-BTokens-on-Ethereum-Panama-Turns-into-Bridge](https://www.binance.com/en/blog/421499824684901158/Token-Canal-Upgrade-Binance-Wrapped-BTokens-on-Ethereum-Panama-Turns-into-Bridge) > BBTC on the Coinmarket Cap/Coingecko: In progress. > Custodian and the Audit Report:[GitHub - bnb-chain/token-canal-project: Project Token Canal is a new initiative, similar to many existing ‘wrapped coins’ in the crypto community, Binance.com, the largest crypto token vault and exchange, will stand to issue and bind more token assets on Binance Chain, Binance Smart Chain and Ethereum, and guarantee the conversion from and to the original tokens with our own credibility and infrastructure.](https://github.com/binance-chain/token-canal-project) **Poll** : > [https://signal.curve.fi/#/curve/proposal/QmfVFCStXbBa67SKv99WYCf6H7ugtdK34Fne8WjZZPTNc3](https://signal.curve.fi/#/curve/proposal/QmfVFCStXbBa67SKv99WYCf6H7ugtdK34Fne8WjZZPTNc3) > Pairing with ren pool would allow for higher liquidity as the somewhat “low” market cap of sBTC could be a limiting factor for liquidity BUT pairing with sBTC would make cross-asset bridge swaps via Synthetix cheaper and more efficient (sBTC pool pairing would also mean sbtc remains as the standard go-to base pool like the 3pool is for stable coins) **Important:** > Signal must now reach a 5% quorum ---
**Author:** ![Helen\_ACE](http://gov.curve.finance/user_avatar/gov.curve.finance/helen_ace/32/261_2.png) [@Helen\_ACE](http://gov.curve.finance/u/Helen_ACE)\ **Post date:** [November 3, 2020, 1:37pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/2 "2020-11-03T13:37:15Z")
please vote for BBTC, any comments or advice, please feel free to contact us. Thanks a lot! ---
**Author:** ![Neozaru](http://gov.curve.finance/user_avatar/gov.curve.finance/neozaru/32/196_2.png) [@Neozaru](http://gov.curve.finance/u/Neozaru)\ **Post date:** [November 3, 2020, 2:24pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/3 "2020-11-03T14:24:23Z")
Centralized, but this is kind of where BTC on Ethereum seems to be headed to anyway (as well as so much more assets to come). BUSD, USDC and USDT are not that different. Let’s tokenize! ![image](https://gov.curve.finance/uploads/default/original/1X/bf2ef74e70469acf4386045d8dc2304d7b6eabdf.jpeg) ---
**Author:** ![WormholeOracle](http://gov.curve.finance/letter_avatar_proxy/v4/letter/w/9f8e36/32.png) [@WormholeOracle](http://gov.curve.finance/u/WormholeOracle)\ **Post date:** [November 3, 2020, 3:14pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/4 "2020-11-03T15:14:39Z")
Exactly how much veCRV voting power would be 5% quorum in this case? ---
**Author:** ![charlie\_eth](http://gov.curve.finance/user_avatar/gov.curve.finance/charlie_eth/32/646_2.png) [@charlie\_eth](http://gov.curve.finance/u/charlie_eth)\ **Post date:** [November 3, 2020, 3:25pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/5 "2020-11-03T15:25:31Z")
32.7M veCRV at creation so 1.63M is quorum. ---
**Author:** ![cryptoguy123](http://gov.curve.finance/letter_avatar_proxy/v4/letter/c/bbce88/32.png) [@cryptoguy123](http://gov.curve.finance/u/cryptoguy123)\ **Post date:** [November 5, 2020, 10:05pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/6 "2020-11-05T22:05:39Z")
I’m in favor. sBTC is the better choice as it will provide more currency trading pairs and create a common denominator for Curve BTC meta pools. More BTC meta pools will entice more deposits into the sBTC pool, so the current fact that it’s less liquid than ren isn’t a concern IMO. ---
**Author:** ![tian7](http://gov.curve.finance/letter_avatar_proxy/v4/letter/t/e0b2c6/32.png) [@tian7](http://gov.curve.finance/u/tian7)\ **Post date:** [November 6, 2020, 6:11am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/7 "2020-11-06T06:11:17Z")
There are only 100 BBTC now and the project is still too early. [https://etherscan.io/token/0x9be89d2a4cd102d8fecc6bf9da793be995c22541#balances](https://etherscan.io/token/0x9be89d2a4cd102d8fecc6bf9da793be995c22541#balances). So it’s better wating when it becomes stable. I don’t think who has interests in this erc20 token now. By the way, Binance’s users are mainly for trading and there’s nothing to do with BBTC project. So talking about user bases has no meaning. The user bases are not BBTC users. ---
**Author:** ![cryptoguy123](http://gov.curve.finance/letter_avatar_proxy/v4/letter/c/bbce88/32.png) [@cryptoguy123](http://gov.curve.finance/u/cryptoguy123)\ **Post date:** [November 6, 2020, 5:24pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/8 "2020-11-06T17:24:36Z")
I’m sure they can mint more. Things like earning rewards through Curve LP shares and having liquidity to other BTC flavors through Curve can really boost demand and therefore supply for BBTC. ---
**Author:** ![charlie\_eth](http://gov.curve.finance/user_avatar/gov.curve.finance/charlie_eth/32/646_2.png) [@charlie\_eth](http://gov.curve.finance/u/charlie_eth)\ **Post date:** [November 6, 2020, 10:11pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/9 "2020-11-06T22:11:49Z")
I’m pretty sure there will be an option to withdraw Bitcoin as BBTC on Ethereum from Binance so it’ll provide a nice bridge to the biggest cex. ---
**Author:** ![tian7](http://gov.curve.finance/letter_avatar_proxy/v4/letter/t/e0b2c6/32.png) [@tian7](http://gov.curve.finance/u/tian7)\ **Post date:** [November 9, 2020, 3:36am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/10 "2020-11-09T03:36:16Z")
Curve has no duty for boosting users’ deman for BBTC. This argument is meaningless. Any coin wanted to be listed on Curve can use the same reason. ---
**Author:** ![tian7](http://gov.curve.finance/letter_avatar_proxy/v4/letter/t/e0b2c6/32.png) [@tian7](http://gov.curve.finance/u/tian7)\ **Post date:** [November 9, 2020, 3:38am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/11 "2020-11-09T03:38:07Z")
So what? My doubt is still who will use it? Does it mean whenever Binance add some surpports then users will be eager to try? Why not wait for Binance surpport the bridge and see how users react before doing a signal vote? ---
**Author:** ![cryptoguy123](http://gov.curve.finance/letter_avatar_proxy/v4/letter/c/bbce88/32.png) [@cryptoguy123](http://gov.curve.finance/u/cryptoguy123)\ **Post date:** [November 9, 2020, 4:05am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/12 "2020-11-09T04:05:22Z")
Agree it has no duty to boost users’ demand for BBTC. It does however have a duty to evaluate whether a current supply of 100 BBTC is a major impediment to a BBTC metapool being successful. Answer, likely no. A BBTC metapool can succeed to earn more fees for vecrv holders despite the current supply being small. ---
**Author:** ![SquareCat](http://gov.curve.finance/letter_avatar_proxy/v4/letter/s/7993a0/32.png) [@SquareCat](http://gov.curve.finance/u/SquareCat)\ **Post date:** [November 12, 2020, 11:13am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/13 "2020-11-12T11:13:06Z")
Wait, BBTC, is BTC on the binance chain, that is now moved to Ethereum as ERC token. Did I get that right? ---
**Author:** ![Helen\_ACE](http://gov.curve.finance/user_avatar/gov.curve.finance/helen_ace/32/261_2.png) [@Helen\_ACE](http://gov.curve.finance/u/Helen_ACE)\ **Post date:** [November 17, 2020, 10:52am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/15 "2020-11-17T10:52:32Z")
Thanks for the question, Btoken is a series wrapped token, which uses the Binance bridge cross-chain service. for BTC wrapped tokens, BBTC is on Etheruem (ERC20), similar to WBTC. and the BTCB is on the binance chain and the binance smart chain(BEP2, BEP20). can also check the proof of assets from the link: [https://www.binance.org/en/assets-proof](https://www.binance.org/en/assets-proof) ---
**Author:** ![Esmaeel](http://gov.curve.finance/letter_avatar_proxy/v4/letter/e/e274bd/32.png) [@Esmaeel](http://gov.curve.finance/u/Esmaeel)\ **Post date:** [November 17, 2020, 11:37am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/16 "2020-11-17T11:37:14Z")
Binance users are not the same as DeFi users? I disagree. All of them are crypto users; the market is still tiny compared to the traditional world; it’s wired to distinguish CeFi and DeFi users in this way. Absolutely it’s a good idea to provide more options to the users; if they want to move their BTC from binance to curve, why should we stop that? ---
**Author:** ![tian7](http://gov.curve.finance/letter_avatar_proxy/v4/letter/t/e0b2c6/32.png) [@tian7](http://gov.curve.finance/u/tian7)\ **Post date:** [November 17, 2020, 11:51am UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/17 "2020-11-17T11:51:25Z")
You totally misunderstand all things. Binance users use Binance for trading not for DeFi. And BBTC has nothing to do with DeFi if no DeFi dapps support it. I am sad seeing people like you post at this forum. ---
**Author:** ![Helen\_ACE](http://gov.curve.finance/user_avatar/gov.curve.finance/helen_ace/32/261_2.png) [@Helen\_ACE](http://gov.curve.finance/u/Helen_ACE)\ **Post date:** [November 17, 2020, 7:46pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/18 "2020-11-17T19:46:12Z")
Besides that binance has a large user base, the Binance ecosystem contains almost the most active users in DeFi, Market Makers, tons of arbitrageurs, holders look for a higher APY, those DeFi projects which had listed their tokens on binance, they will potentially have BTC in binance, and might need to transfer BTC ERC-20 to the DeFi world, e.g. Curve. BBTC it’s a good bridge/cross-chain service to connect CeFi and DeFi protocols, which means that users can quickly use [binance.com](http://binance.com) or simply use binance bridge(decentralize tools) to convert their BTC to BBTC (ERC20), at the same time enjoy service with a high standard of security. It’s a good idea to list BBTC, and to provide a solid option to users. Not sure if Curve would list all kinds of BTC wrapped tokens (WBTC, RenBTC, imBTC, Binance BTC), we recommend listing more and bring more users and assets into this eco-system. How to convert BBTC via [binance.com](http://binance.com): [https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d](https://www.binance.com/en/support/announcement/b4b0312230964cf1a347d4712be5123d) How to convert BBTC via binance bridge: > **[BNB Chain Bridge | Cross-Chain Transfer](https://www.bnbchain.org/ru-RU/bnb-chain-bridge)** > > Bridge and transfer your assets between networks (Ethereum, Polygon and etc.) and BNB Chain blockchain ecosystem. ---
**Author:** ![Helen\_ACE](http://gov.curve.finance/user_avatar/gov.curve.finance/helen_ace/32/261_2.png) [@Helen\_ACE](http://gov.curve.finance/u/Helen_ACE)\ **Post date:** [November 17, 2020, 7:50pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/19 "2020-11-17T19:50:13Z")
The wrapped BTC (BBTC)can be printed very quickly. After 2 weeks of binance launched BBTC, there is 600 BBTC on-chain. Will have more according to requirement. please check the proof of asset. ([https://www.binance.org/en/assets-proof](https://www.binance.org/en/assets-proof)) Here’s the target list where we are going to add BBTC soon: Uniswap(by this week), Aave(in progress), Curve, Compound, Cream(listed), Fortube(Listed), MakerDao, Balancer, InstaDapp, and more, we will work closely with the community, hopefully, we will see the increase of BBTC in the coming weeks. ---
**Author:** ![cryptoguy123](http://gov.curve.finance/letter_avatar_proxy/v4/letter/c/bbce88/32.png) [@cryptoguy123](http://gov.curve.finance/u/cryptoguy123)\ **Post date:** [November 18, 2020, 7:40pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/20 "2020-11-18T19:40:34Z")
why? you don’t like don’t bbtc, don’t use the pool. why stop the pool from being added? ---
**Author:** ![Jon](http://gov.curve.finance/letter_avatar_proxy/v4/letter/j/3bc359/32.png) [@Jon](http://gov.curve.finance/u/Jon)\ **Post date:** [November 20, 2020, 2:40pm UTC](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080/21 "2020-11-20T14:40:35Z")
Two thoughts 1. It seems very early for this. I’d like to see this asset have at least a few months of seasoning before going live. 2. It also seems like this kind of thing would benefit Binance a lot more than Curve. Perhaps Binance should be incentivizing this pool. [Next page](http://gov.curve.finance/t/scip-10-adding-a-metapool-for-bbtc-binance-btc/1080.md?page=2)