Minting CBTC

This guide walks you through the process of minting CBTC on the Canton Network using Bitcoin.

Prerequisites

Before you begin, ensure you have:

• A Bitcoin wallet that supports Taproot (P2TR) addresses

• A Canton Network wallet

• Sufficient BTC for the deposit plus network fees

Step-by-Step Minting Process

Step 1: Initiate a Deposit

Navigate to the BitSafe application and select Mint CBTC. You will be presented with a unique Bitcoin deposit address.

Step 2: Send Bitcoin

Send the desired amount of BTC to the provided Taproot deposit address from your Bitcoin wallet.

Step 3: Wait for Confirmations

The system requires a minimum number of Bitcoin block confirmations before processing your deposit. The Coordinator monitors deposit accounts and will detect your transaction.

Step 4: Attestor Verification

Once sufficient confirmations are received, the Attestor network verifies the deposit through the governance module. Each Attestor must independently submit their confirmation signature.

Step 5: CBTC Minted

After the threshold of Attestor confirmations is reached, the equivalent amount of CBTC is minted on the Canton Network and sent to your Canton wallet.

Important Notes

• Each CBTC is backed 1:1 by Bitcoin held in the decentralized custody system

• The minting process typically completes within minutes after sufficient Bitcoin confirmations

• Minimum deposit amounts may apply