tBTC, A Decentralized Redeemable BTC-backed ERC-20 Token. No KYC, no middlemen, no bullshit. Period. Censorship resistant, seizure resistant, inflation resistant. The goal of tBTC is the creation an ERC-20 token that maintains the most important property of Bitcoin- its status as "hard money". To maintain the "hard money" status of its backing BTC deposits, tBTC must remain: • Censorship and seizure resistant, across friendly and unfriendly jurisdictions. • Inflation-resistant. TBTC may only be minted after proof is provided of a backing BTC deposit. • Leverage-resistant. The existence of tBTC shouldn’t allow cross-chain "printing" of additional synthetic Bitcoin. We can’t stop someone from launching a synthetic, but artificially expanding the Bitcoin supply is not a goal of the project. • Without middlemen, in the same sense as Bitcoin. The only rent extraction should be from the minimal participation of signers required to secure the network, similar to miners on the Bitcoin network. • Redeemable. The ability to trade scrip for its backing deposit freely is what distinguishes a backed currency from fiat money. The supply of tBTC is always backed by an equal number of reserved BTC. This means for every token in circulation, 1 BTC has been removed from circulation. Together, these properties ensure a strong supply peg across chains, and the closest to "hard money" status that a Bitcoin-pegged asset can achieve. Notably, these properties don’t require an artificial price peg as is common in stable coin projects — they instead require a supply peg across chains.