Bitcoin At Work
What is yield farming? A beginner’s guide to passive income in DeFiRead on the DeFi Pulse Blog

Bitcoin At Work

274,149

USD Value

$12.94B

Wrapped Bitcoin Dominance

75.26%

Bitcoin At Work

  • BTC
  • TVL (USD)
  • All
  • 1 Year
  • 90 Day
  • 30 Day
defipulse chart
defipulse logoTokenTypeBTCUSD Value1 Day %
🏆
1.wbtc
WBTC
Custodial
206.3K
$9.74B
-0.14%
🥈
2.wbtc
HBTC
Custodial
39.9K
$1.88B
-0.14%
🥉
3.wbtc
RENBTC
Hybrid
15.6K
$737.3M
0.63%
4.wbtc
SBTC
Synthetic
4.8K
$225.1M
-0.13%
5.wbtc
pBTC
Hybrid
2.6K
$122.7M
-0.06%
6.wbtc
oBTC
Custodial
2.5K
$115.7M
-0.14%
7.wbtc
imBTC
Custodial
1.5K
$71.3M
2.33%
8.wbtc
TBTC
Decentralized
776
$36.6M
0.44%
9.wbtc
mBTC
Hybrid
193
$9.1M
2.82%
10.wbtc
BTC++
Hybrid
12
$564.2K
-0.14%
11.wbtc
acBTC
Custodial
1.3
$62.4K
-0.14%

What is DeFi?

DeFi is an abbreviation of the phrase decentralized finance which generally refers to digital assets and financial smart contracts, protocols, and decentralized applications (DApps), most of which are built on Ethereum. In simpler terms, it's financial software built on the blockchain that can be pieced together like Money Legos. Read more about DeFi.

What’s the purpose of DeFi Pulse?

DeFi Pulse is a site where you can find the latest analytics and rankings of DeFi protocols. Our rankings track the total value locked into the smart contracts of popular DeFi applications and protocols. Additionally, we curate The DeFi List, a collection of the best resources in DeFi, and DeFi Pulse Farmer, a newsletter covering the latest news and opportunities in DeFi.

What is Bitcoin at Work?

Bitcoin at Work measures the total amount of BTC being utilized within decentralized finance (DeFi). DeFi Pulse monitors each BTC token on the Ethereum blockchain. Every hour, we refresh our charts by pulling the total balance held by these smart contracts.

How do we define each type of BTC?

Decentralized - a BTC token backed by BTC held within a fully decentralized protocol
Custodial - a BTC token backed by BTC held in custody by a third party
Synthetic - a token which follows the price of Bitcoin but is not directly backed by BTC
Hybrid - a BTC token backed by BTC held within an open protocol transitioning towards decentralization

How do we calculate total value locked (TVL)?

TVL(USD) is calculated by taking the balance of each smart contract (excluding instances of double counting) and multiplying them by their price in USD. You can view the open source project adapters that power our metrics here.

How do I get involved in DeFi?

Decentralized finance is open for anyone to take part in. You can start by exploring the resources found on The DeFi List. Stay informed on the latest news and opportunities in DeFi by subscribing to the DeFi Pulse Farmer newsletter.

How do I get my project listed on DeFi Pulse?

Check out this step by step guide on how projects can partner with DeFi Pulse to join the DeFi Pulse Leaderboard.