sBTC

sBTC, or Synthetic Bitcoin, is a type of cryptocurrency that exists on decentralized finance (DeFi) platforms, representing a derivative asset pegged to the value of Bitcoin (BTC). It is created using synthetic assets protocols, allowing users to gain exposure to Bitcoin's price movements without holding the actual cryptocurrency. sBTC can be traded on various DeFi platforms, providing liquidity and enabling users to hedge their positions or speculate on BTC's price using Ethereum-based smart contracts.