Bitcoin ( cbBTC )
Auto Allocation - Coinbase Wrapped BTC : cbBTC
Accumulate dollar cost averaged Bitcoin with automatic swaps into cbBTC.
Any WETH sent to an Amasa account which has setup Bitcoin in Auto Allocation on Base, automatically enters a set of smart contracts and is swapped via decentralized exchange ( Uniswap / Sushiswap ).
The percentage of WETH swapped to cbBTC will match the set percentage chosen by the user in their Auto Allocation.
As part of the same transaction executed by the smart contracts, the user wallet address which was connected to setup the Amasa account will be sent the cbBTC.
This asset is then held by, and under the control of the user, not the smart contracts or Amasa.
When rebalancing a portfolio, a user can swap existing assets back to WETH from their dashboard and deposit into their updated Auto Allocation. This may be done if a user wants to change their approach from Stabilise to Amplify or vice versa.
Users can independently confirm and track all transactions on Basescan.
Risk Disclaimer
The DeFi space is not without risk. It is highly recommended to do your own research and only supply assets you can afford to lose. Read Risk Disclaimer
What is cbBTC?
Coinbase Wrapped BTC (cbBTC) is a token that is backed 1:1 by native Bitcoin (BTC) held by Coinbase, meaning that for all cbBTC in circulation, there is an equivalent amount of BTC held in a secure custody solution (including cold storage) provided by Coinbase.
Wrapped assets, like cbBTC, are transferable tokens that are redeemable for the underlying asset. Coinbase customers can unwrap cbBTC and redeem a corresponding amount of the underlying BTC simply by depositing the cbBTC into their Coinbase accounts. cbBTC is built to be seamlessly compatible with DeFi applications, giving customers the option to tap into DeFi and unlock financial utility.
cbBTC removes a key point of friction by allowing customers to use Bitcoin they already hold in new ways onchain. cbBTC is built to be seamlessly compatible with DeFi applications, so users can now tap into novel DeFi use cases like providing their Bitcoin as liquidity to DeFi protocols, using it as collateral to borrow other crypto assets, or spending it as a payment method.
Wrapped assets like cbBTC are a mature concept in the crypto world, helping to bring more liquid assets onchain and facilitate an expansive financial ecosystem.
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