rect

stETHBacked

BTCLoans

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110%

Collateralization

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0%

Fees

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11X

Leverage

How it works

Trade the Flippening

Trade the Flippening Step 1

Step 1

Borrow eBTC against your stETH

Trade the Flippening Step 2

Step 2

Swap eBTC for stETH

Trade the Flippening Step 3

Step 3

Swap back to eBTC and close the loan

Why eBTC

collateral

Capital Efficiency

With no interest, initiation or closing fees and 110% minimum collateralization ratio, eBTC is the most capital efficient way to borrow Bitcoin anywhere.

Transparency

Powered by immutable smart contracts, it enables users to verify the backing of eBTC at all times while maintaining custody of their positions.

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liquidation

Lower Liquidation Risk

Borrowing BTC against ETH ensures a significantly higher correlation between the collateral and borrowed asset and reduces liquidation risk.

Security Matters

Built by Badger

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With 3 years building in DeFi, over $3.5B in lifetime BTC deposits, a commitment to open source development and 6 protocol launches, Badger knows how to ship to the highest standard. There was no exception when bringing the eBTC protocol to life and ensuring the same security rigor was followed.

Learn more