Parity board · BTC Wrappers & Staked BTC
BTC parity board
Most wrapped bitcoin makes the same promise: one token, one BTC. The pools where each wrapper trades put a price on that promise every block. This board shows the current reading for each wrapper on our feed, plus one yield-bearing token read on different terms.
| Pair | Rate · delayed | vs par | Pools | Chains | Feed |
|---|---|---|---|---|---|
| ▸ cbBTC/BTC | 1.0006 | +0.06% | 19 | 5 | cbBTC/USD → |
| ▸ tBTC/BTC | 0.9993 | -0.07% | 9 | 4 | tBTC/USD → |
| ▸ solvBTC/BTC | 0.9989 | -0.11% | 1 | 1 | solvBTC/USD → |
The reference leg is bitcoin as it trades on-chain
There is no native BTC on Ethereum, so the pools behind these rates quote wrappers against WBTC: the oldest wrapper and the unit these pools settle in. That makes WBTC the measuring stick of this board rather than a row on it. A parity reading of one means the wrapper exchanges evenly with on-chain bitcoin where both actually trade.
WBTC itself is not unmeasured. The second table prices it in ether terms plus the major stablecoins, so its own market stands in the open alongside the wrappers it anchors.
Bitcoin in other units
The dollar legs and ether legs of the two largest wrappers, read from the same pool layer.
| Pair | Rate · delayed | Pools | Chains | Feed |
|---|---|---|---|---|
| ▸ WBTC/ETH | 31.3868 | 22 | 5 | WBTC/USD → |
| ▸ WBTC/USDC | 71,856 | 18 | 6 | WBTC/USD → |
| ▸ WBTC/USDT | 71,987 | 10 | 4 | WBTC/USD → |
| ▸ cbBTC/WETH | 31.4124 | 12 | 1 | cbBTC/USD → |
| ▸ cbBTC/USDC | 71,938 | 18 | 3 | cbBTC/USD → |
Yield-bearing bitcoin
LBTC reads on different terms. Lombard designs it as yield-bearing bitcoin: what the underlying BTC earns accrues into a rising LBTC/BTC exchange rate, so one LBTC is meant to be worth more than one BTC over time. A reading above one is mostly that accrued yield rather than a premium, which is why its row has no par column. The question it answers is how the market rate compares with Lombard's own exchange rate.
| Pair | Rate · delayed | Pools | Chains | Feed |
|---|---|---|---|---|
| ▸ LBTC/BTC | 1.0043 | 3 | 2 | LBTC/USD → |
When wrappers leave par
Par is the design target, not a law. In past stress events wrapped assets have traded at visible discounts while holders questioned a custodian or a bridge, then closed the gap once redemption proved out. Premiums appear too: a wrapper in demand on a chain where supply is thin has traded above one for stretches. The board does not judge those moves. It shows them while they happen, with the depth and the pool count behind every reading one click away on the feed page.
Parity board FAQ
Is WBTC pegged to BTC?
Yes by design: every WBTC is minted against bitcoin held in custody. The market then prices that promise continuously. On this board WBTC serves as the on-chain reference unit, so the other wrappers are read against it while WBTC itself is quoted in ETH plus the major stablecoins below.
What keeps a wrapped bitcoin at par?
Mint and redeem. As long as authorized parties can create the wrapper against real BTC or unwind it back, arbitrage pulls the market rate toward one. The parity rate shows how tightly that loop is holding at any moment.
Why would a wrapper trade above par?
Demand can outrun minting. When a wrapper is scarce on the chains where people want it, buyers pay a premium rather than wait for a mint. A discount is the mirror image: holders exiting faster than redemption absorbs.
Where does this data come from?
Each rate aggregates the on-chain pools where the pair actually trades, weighted by liquidity. The full method lives on our data feeds page; every row links to the feed behind it.