I have a question, I noticed that the wBTC moves in lockstep with the price of bitcoin, that is, if the price of bitcoin is $20.000, the price of wBTC is also $20.000, is there any possibility of a price difference?
Wrapped Bitcoin is a token on Ethereum blockchain, ERC20 chain.
About Wrapped BitcoinWrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.
WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.
WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner.
Wrapped Bitcoin was first announced on October 26, 2018, and officially launched on January 31, 2019.
It is a token minted with their promise to back 1 Wrapped Bitcoin by 1 bitcoin. You never knows what they do with the custodian party to back their token. They can back the token with less than 1:1 ratio and the token can be de-pegged when it is brought to the light.
Their team advertise that they do it to bring Bitcoin to DeFi but why Bitcoin need to exist in DeFi which is for altcoins?
Wrapped Bitcoin is a token, an altcoin, not Bitcoin. You don't have to buy the token and have risk that it will be de-pegged. If you want to join DeFi, buy any token on ERC20 like USDT, ETH and you have that token on its main chain.
Buy WBTC and think you have BTC but it's not bitcoin.