Wrapped bTokens

What are Wrapped bTokens?

Wrapped bTokens (or wbTokens) are wrapped versions of bTokens to be used within DeFi to avoid loss to rebasing due to corporate actions such as stock splits or dividend payouts. Just like using wstETH instead of stETH in DEX pools or lending markets.

How can I get access to Wrapped bTokens?

If you hold bTokens, you can wrap it via our DeFi dashboard.

https://defi.backed.fi/

What are the addresses for the current Wrapped bTokens?

1. wbCOIN - 0xdec933e2392ad908263e70a386fbf34e703ffe8f

2. wbTSLA - 0x1f82284c1658ad71c576f7230e6c2dee7901c1fa

3. wbNVDA - 0x7e8101a1c322d394b3961498c7d40d2dfa94c392

4. wbMSTR - 0x1a4f71b0ff3c22540887bcf83b50054a213c673d

Why are some bTokens not available to be wrapped?

bCSPX, for example, is not available to be wrapped, as it is not rebasing. As the ETF is accumulating, there is no rebasing needed.