Wrapped Bitcoin’s Supply Has More Than Doubled, but BadgerDAO Hack Exposed Risks of Moving Bitcoin to Ethereum

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“It turns out that it’s currently easier to borrow and lend with WBTC than BTC since users can interact with DeFi lending protocols like Compound, Aave and Maker to lend their WBTC and borrow USDC, dai, or other assets against it,” Joe Keefer, a dealer at Grapefruit Trading, one of the largest WBTC retailers, informed CoinDesk on Telegram. “There are also many opportunities to use WBTC directly in yield farming.”