iBTC Launches on Symbiotic to Enable Bridgeless BTC Staking with Mellow Finance Vault

Author

Prateek Ranka
January 28, 2025

Why It Matters

  • Safer Tech: iBTC Network’s decentralized wrapped Bitcoin is backed by the deposits of self-custodial merchants (KYC’d institutions) that self-wrap their BTC into what we call ‘lockboxes’ on Bitcoin Layer 1, minimizing third-party participation, and eliminating bridging risks.

  • Multi-Platform Rewards: Earn points through Symbiotic, Mellow, and iBTC simultaneously by using the vault—amplifying your DeFi ROI.

  • Exclusive Access: We’re limiting this initial vault to just $50M of iBTC stakes, open to both institutional participants and a smaller allocation for retail users. Once we hit that cap, you’ll have to wait for further expansions or new vault offerings.

We’re excited to announce that iBTC is among the first to go live on Symbiotic. This launch also unveils a $50M iBTC staking vault, designed primarily for institutional players seeking secure, self-custodial yield on their Bitcoin—yet still inclusive of retail investors who join early.

“iBTC's Self-Custodial Bitcoin staking product unlocks new restaking yield opportunities for Bitcoin users." - Felix Lutsch, Head of Ecosystem, Symbiotic

Why Symbiotic?

Symbiotic is a shared security protocol that gives projects complete flexibility in defining how they (re)stake assets and apply staking policies. By integrating with Symbiotic, iBTC’s decentralized Attestor Network can access a robust economic security layer—enabling operators to earn rewards while ensuring iBTC’s core infrastructure remains trust-minimized and fault-tolerant.

We’re deploying iBTC within the Symbiotic ecosystem for its restaking capabilities. Symbiotic provides the economic security and underlying smart contract logic that makes on-chain staking and slashing possible—ensuring that any misbehavior can be penalized and that legitimate participants earn rewards.

  1. Securing iBTC’s Attestor Network
    The shared security model of Symbiotic will reinforce the Attestor Network’s reliability. Each Attestor node (the independent signers who validate BTC deposits and signature requests) can register in Symbiotic as both Operators (providing node infrastructure) and Resolvers (voting on slashing requests to keep other Attestors in check). This synergy further decentralizes our network and imposes real economic consequences for malicious or suboptimal performance.

  2. Using iBTC as Collateral in Symbiotic
    Symbiotic’s Vaults will accept iBTC as a staking token. This means iBTC holders can deposit their tokens in Symbiotic-managed Vaults, delegate those tokens to Attestor Network operators, and earn rewards for helping secure networks that Symbiotic supports.

Why Mellow?

Mellow as the Front-End and Co-Partner

Mellow serves as our technical launch partner and user-facing platform:

  • Mellow Vault Listing: You’ll find a dedicated iBTC vault on Mellow, where you can stake iBTC and earn rewards from Symbiotic, Mellow, and iBTC.

  • Integrated Points & Tokens: Mellow will co-issue points, giving participants multiple reward streams. Mellow’s siBTC token gives users more flexibility to make their investment earn more and be more active in the DeFi space.

  • User Interface: While the iBTC vault will appear on Symbiotic’s interface, most interactions—like depositing iBTC—will happen on Mellow. Symbiotic will link users directly to the corresponding Mellow page for a seamless experience.

How It Works: Our Symbiotic + Mellow Deployment

Instead of diving into the nuances of Symbiotic’s internal operator layers or network registries, we want to highlight how iBTC integrates with Symbiotic—with an assist from Mellow—to bring you a streamlined, secure staking experience.

Combining Forces

  • Collateral in iBTC: You stake BTC (using iBTC) without relying on risky bridges. Mellow’s vault aggregates these deposits and directs them into Symbiotic’s restaking engine.

  • Triple Reward Streams: Because Symbiotic is a shared security protocol, both operators and vault participants (iBTC stakers) can tap into three distinct reward sources—iBTC, Symbiotic, and Mellow. Mellow’s points and LRT token (siBTC) add an extra layer of benefits, boosting the overall earning potential for everyone involved.

Rewards & Points

We’re introducing a points system to make your iBTC holdings even more valuable. Here’s how it works:

  • Daily Points Accrual: You earn 10,000 points per 1 iBTC per day (or 1 point per 0.0001 iBTC per day).

  • Points from Mellow and Symbiotic: In addition to daily points, you also earn points from Mellow and Symbiotic by staking your iBTC.

  • Vault Bonus: If you stake iBTC in our vault, you get 5× points on top of the daily accrual—an extra incentive for early adopters.

  • Prorated Calculation: Points are awarded based on how much iBTC you hold and for how long, so shorter durations or partial amounts still earn their fair share.

Future Utility:

  • Redeemable for BIT rewards and other perks

  • Fee & Service Discounts for iBTC or partner platforms

  • Additional Benefits to be announced soon

Next Steps

Where to get iBTC on Ethereum?

If you are looking to get your hands on some iBTC, you can find platform-specific step-by-step guides below:

Where to get iBTC for institutions?

If you are an institution interested in acquiring iBTC and you hold more than 50 BTC, reach out to us at [email protected] to get an allocation.

Where to deposit iBTC?

Our primary iBTC Vault is available on both Symbiotic and Mellow platforms. You can deposit iBTC there to earn rewards and help secure the network. Keep an eye on these platforms for updates about any new vault configurations or collateral options we may roll out in the future.

The Path Forward

Our partnership with Symbiotic and Mellow Finance is a strategic leap toward truly shared security. By aligning iBTC’s decentralized Attestor Network with a protocol specialized in flexible, on-chain staking and slashing policies, we’re ensuring the resilience, scalability, and economic sustainability of iBTC for years to come. 

Stay tuned for more technical details and how you can participate in future iBTC vaults on Symbiotic. As always, thank you for supporting iBTC as we continue to innovate on the frontier of self-custodial Bitcoin.

About Mellow Finance

Mellow is building a modular platform designed to power the creation of structured products that deliver onchain yield across diverse risk profiles. Our vision is based on the experiences of TradFi and the natural evolution of the yield markets, dictating the shape and form of the product. The ecosystem of primitives enables anyone to design and share their financial products with users almost effortlessly. The protocol is permissionless and compatible with any asset, making it adaptable to any underlying present or future use cases.
Want to know more about Mellow Protocol? Find us at:

About Symbiotic

Symbiotic is an innovative shared security protocol designed to enhance the security and efficiency of decentralized networks. It functions as a thin coordination layer, allowing network builders to customize their own staking and restaking implementations without the need for cumbersome governance structures or slashing committees.

About iBTC

iBTC Network's decentralized wrapped Bitcoin is a safer way to access DeFi with your Bitcoin. iBTC is backed by a network of leading node operators and merchants who self-wrap BTC into vaults on Bitcoin Layer 1 to provide liquidity to the iBTC Network. The merchant's signature on the multisig vault prevents network misuse without user consent, making iBTC the most secure wrapped BTC token.

iBTC can be acquired by retail users by swapping for it on popular decentralized exchanges such as Curve, Uniswap, and Balancer. Institutional users, on the other hand, can swap into iBTC through a trusted merchant in the iBTC network or mint iBTC following KYB. 

Join us as we make BitcoinFi safe again. Follow our socials and become part of the iBTC community:

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