Underlying Asset Price Variation
Currently, we support RedStone Oracle for underlying asset price feeds. BitFi plans to integrate more underlying asset oracles in the future.
Due to the requirements of quantitative strategies, bfBTC currently does not support WBTC as a deposit asset. Therefore, the content of this section is not applicable at the moment and is for reference only.
Different underlying assets are used for deposits on different chains:
Bitcoin: BTC
Ethereum: WBTC
Binance Smart Chain: BTCB
Bitlayer: BTC (native token/gas token)
Hemi: hemiBTC
On Bitcoin, Ceffu mirrors BTC assets to the exchange at a 1:1 ratio. Ideally, depositing 1 BTC yields bfBTC based on the ratio corresponding to 1 BTC.
Binance Smart Chain's BTCB is backed by Binance at a 1:1 exchange rate. Depositing 1 BTCB yields bfBTC based on the ratio corresponding to 1 BTC (1 BTCB = 1 BTC).
HemiBTC (on Hemi Network) and Bitlayer BTC (on Bitlayer) are each 1:1 pegged to Bitcoin, with:
1 HemiBTC = 1 BTC
1 Bitlayer BTC = 1 BTC
Ethereum's WBTC has price fluctuations; deposits are calculated based on the Redstone Oracle price.
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