1. What is imBTC?
imBTC is an ERC777 token-backed 1:1 with Bitcoin, issued and regulated by Tokenlon. Tokenlon supports imBTC exchange.
2. How is imBTC issued and redeemed?
imBTC is not a freely issued token, but is generated by locking an identical amount in BTC. Completely transparent and 100% verifiable.
Transfer real BTC to Tokenlon's multi-signature account to lock BTC and to get the same amount of imBTC. the locked BTC by sending back the imBTC. This approach ensures an accurate 1:1 relationship between imBTC and BTC, while the transparency of the blockchain lets you track and verify the process.
3. How to get imBTC?
Participate in the imBTC subscription
You can open the "Bitcoin cross-chain service" DApp to participate imBTC subscription, here is the tutorial.
Exchange it in Tokenlon
Tokenlon will open the imBTC trading pair, users can use ETH or USDT to exchange imBTC
4. Where is the BTC stored after the subscription of imBTC? Is it safe?
BTC will be stored in Tokenlon's cold wallet, and the cold wallet will ensure the security of BTC assets.
5. How does Tokenlon ensure that imBTC with liquidity?
The liquidity of imBTC is reflected in two points below:
- Users can redeem their BTC anytime through imBTC
- Tokenlon can support imBTC trading pairs always, and users can exchange imBTC for other digital assets at anytime