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Wrapped Bitcoin (WBTC) is the first ERC20 token backed 1:1 with Bitcoin, the project was started by Kyber Network, BitGo and Ren. It aims to be community led being managed by a DAO. The swapping process of minting new WBTC is completely transparent making the process 100% verifiable. The main idea is the bridge the liquidity gap between cryptocurrency trading on centralized platforms and decentralized exchanges or Dapps on Ethereum.