Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin on the Ethereum blockchain. It allows users to access the functions and features of Bitcoin while also being able to participate in decentralized finance (DeFi) applications on the Ethereum network. WBTC is backed 1:1 by Bitcoin held in reserve by custodians, providing users with the ability to trade, lend, and borrow Bitcoin in a decentralized manner. WBTC aims to bridge the gap between the Bitcoin and Ethereum ecosystems, offering users the flexibility to interact with both networks seamlessly.