CelsiusX Wrapped BTC (CXBTC)

CelsiusX aims to seamlessly bridge the DeFi and CeFi worlds by acting as a cross-chain liquidity bridge. The ultimate goal is for CelsiusX to evolve into a liquidity platform, which is a superset of being a retail and institutional lending platform. Upon implementation, the CelsiusX platform can be used as a bridge to all chains as well as an on/off ramp into the fiat world. The CelsiusX wrapped token infrastructure enables the creation of tokens on a target chain collateralized by assets on the native blockchain. Our implementation differs from other collateralized tokens in three major aspects. First, we offer yield generation on both the target and native blockchains. Second, key actions such as minting are functionally controlled utilizing a decentralized oracle service. Third, the intent of our final implementation is to provide a fully decentralized wrapping service, which will be enabled via a trustless bridge without the need for any central agency. Wrapped assets are the concrete representation of the CelsiusX liquidity bridge. Assets are locked on one blockchain and a corresponding amount of wrapped tokens are minted on another blockchain. Using the bridge, these wrapped tokens can be redeemed for the underlying asset at any time.