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TeleBTC

TeleBTC is a decentralized wrapped Bitcoin — a 1:1 representation of BTC that lives on TeleSwap's destination chains. It is minted when BTC is bridged in and burned when BTC is redeemed, so the circulating supply always tracks the BTC held by Lockers.

A decentralized alternative to custodial wrapped BTC​

Most wrapped-BTC tokens (such as WBTC) are custodial: a single company holds the underlying BTC, and you have to trust it not to misuse or lose those funds. TeleBTC removes that single point of trust:

  • No central custodian — BTC is held by permissionless, collateral-backed Lockers, not one company.
  • Verifiable backing — every mint is gated by a light-client bridge that checks a real Bitcoin transaction on-chain; nothing is minted on someone's say-so.
  • Economic guarantees — Locker misbehavior is punished by slashing & liquidation, so backing stays honest without a trusted intermediary.

Key properties​

  • 1:1 with BTC — each TeleBTC corresponds to BTC custodied by a Locker.
  • Collateral-backed — Lockers post collateral worth more than the BTC they hold; misbehavior is punished by slashing & liquidation.
  • Minted only on proof — the light-client bridge must verify the incoming Bitcoin transaction before any TeleBTC is minted.
  • 8 decimals — like BTC.

Where TeleBTC fits​

BTC ──wrap──▶ TeleBTC ──swap (AMM)──▶ target token
target token ──swap (AMM)──▶ TeleBTC ──unwrap──▶ BTC

In a swap, TeleBTC is the intermediate asset routed through the AMM/DEX; in a plain bridge, TeleBTC is what the user receives (or burns). If a swap fails, the user is refunded in TeleBTC/BTC — see Swap Failures & Refunds.