Custodied BTC · Ethereum
Coinbase Wrapped BTC cbBTC
An Ethereum token representing BTC held by Coinbase. It combines Bitcoin price exposure with issuer and custody dependencies.
Sample protocol snapshot. These figures are not the current protocol state.
Assessment overview
The assessment could not be loaded. Available protocol data is shown below.
Risk data & lending terms
Lending terms
Effective annual interest
1.25% – 1.75%
Current rate, adjusted for retained reserve
Retained reserve
20.0%
Current share of gross minted debt
Global minting limit
15.0M ZCHF
Across all originals · 53.7% used
Effective interest = (base rate + contract premium) ÷ (1 − retained reserve). Rates vary; average 1.66%, weighted by debt outside the reserve.
Positions & price exposure
Price exposure
25.8k ZCHF (0.32% of this asset's debt) is within 10% of its configured liquidation price at the last observed market price.
The last price observation is 1580 hours old; this asset's monitoring window is 1 hours. Price-based figures describe that earlier observation.
Collateral value / debt
173%
reference-priced collateral ÷ debt across the considered positions
Nearest price cushion
reference-price distance to the highest configured liquidation price · median 40.3%
Positions considered
15
active, with debt, at 64.1k CHF / cbBTC
Debt by price cushion
- ≤ 0%–
- 0 – 5 %–
- 5 – 10 %25.8k
- 10 – 20 %–
- 20 – 40 %6.1M
- > 40 %1.9M
Positions nearest their liquidation price 1 within 10 %
| Position | Price cushion | Debt ZCHF | cbBTC | Liq. price | State |
|---|---|---|---|---|---|
| 0xDa2fC6…B42099v2 · clone | 6.4% | 25.8k | 0.4303 | 60'000 | open |
| 0xDc189A…9d9382v2 · clone | 22.0% | 6.0M | 150.00 | 50'000 | open |
| 0x9212FB…465551v2 · clone | 23.7% | 19.6k | 0.4000 | 48'882 | open |
| 0x7c7EEa…53EC78v2 · clone | 23.7% | 5.7k | 0.1163 | 48'908 | open |
| 0xF70103…f26e7Dv2 · clone | 25.1% | 30.4k | 0.6340 | 48'000 | open |
Cushion = reference-price distance to the configured liquidation price. Reference price: 64'106 CHF. Showing 5 of 15; the full list is in the Positions block.
What if the price falls?
Explore debt at or beyond its configured liquidation price. Positions and parameters stay unchanged. This estimates threshold exposure, not liquidation proceeds or losses; comparisons assume 1 ZCHF = 1 CHF.
Starting price: 64'106 CHF / cbBTC, observed 07 Sept 2026, 14:22 UTC. This scenario uses an unverified or outdated reference price.
25.8k ZCHF (0.32%) across 1 positions at or beyond their configured liquidation price.
Scenario price: 57'695 CHF
Compare price scenarios
| Price drop | Reference CHF price | Debt beyond threshold | Share of asset debt | Positions |
|---|---|---|---|---|
| 0% | 64'106 | 0 ZCHF | 0.00% | 0 |
| 10% | 57'695 | 25.8k ZCHF | 0.32% | 1 |
| 20% | 51'285 | 25.8k ZCHF | 0.32% | 1 |
| 40% | 38'463 | 6.1M ZCHF | 76.22% | 7 |
Positions
| Position | Owner | cbBTC | Minted ZCHF | Coll. ratio | Liq. price | Effective interest | Reserve | Auction | Expires |
|---|---|---|---|---|---|---|---|---|---|
| 0xDc189A…9d9382v2 · clone | 0x0a63…6026 | 150.00 | 6.0M | 160% | 50'000 | 1.75% | 20% | 24 h | 31 Mar 2027 |
| 0x865762…E8158ev2 · clone | 0x93F9…f6A7 | 40.00 | 1.4M | 183% | 35'000 | 1.25% | 20% | 24 h | 25 Feb 2027 |
| 0xAC1814…5CA6E2v2 · clone | 0xA30a…39c0 | 10.74 | 354.4k | 194% | 33'000 | 1.75% | 20% | 24 h | 24 Oct 2026 |
| 0x1eEd91…254804v2 · original | 0x963e…b301 | 1.9995 | 70.0k | 183% | 35'000 | 1.75% | 20% | 24 h | 29 Nov 2027 |
| 0x5F2c10…55bb95v2 · original | 0x963e…b301 | 10.00 | 50.0k | 1'282% | 38'000 | 1.25% | 20% | 24 h | 25 Feb 2029 |
| 0x2Adf6E…0a830Av2 · clone | 0x1C69…5cBa | 1.0458 | 45.0k | 149% | 43'100 | 1.75% | 20% | 24 h | 29 Nov 2026 |
| 0xF70103…f26e7Dv2 · clone | 0x6616…7945 | 0.6340 | 30.4k | 134% | 48'000 | 1.25% | 20% | 24 h | 09 Oct 2026 |
| 0xDa2fC6…B42099v2 · clone | 0x80A0…3BC0 | 0.4303 | 25.8k | 107% | 60'000 | 1.75% | 20% | 24 h | 31 Mar 2027 |
| 0x9212FB…465551v2 · clone | 0x411B…9faf | 0.4000 | 19.6k | 131% | 48'882 | 1.75% | 20% | 24 h | 03 Mar 2027 |
| 0xF4a7dD…0FB327v2 · clone | 0x5a4F…2dE6 | 0.5000 | 19.1k | 168% | 38'262 | 1.25% | 20% | 24 h | 29 Dec 2027 |
| 0xFce997…aA3e9Fv2 · clone | 0x982d…6c72 | 0.2238 | 8.7k | 165% | 38'901 | 1.25% | 20% | 24 h | 10 Jun 2028 |
| 0x75E44F…449Fbdv2 · clone | 0xA564…82f4 | 0.2783 | 8.7k | 206% | 31'135 | 1.25% | 20% | 24 h | 31 Oct 2027 |
| 0x3f135A…C3cDB3v2 · clone | 0xE346…D341 | 0.2000 | 7.0k | 183% | 35'000 | 1.25% | 20% | 24 h | 25 Feb 2029 |
| 0x7c7EEa…53EC78v2 · clone | 0xC3F5…38Be | 0.1163 | 5.7k | 131% | 48'908 | 1.75% | 20% | 24 h | 06 Sept 2027 |
| 0x088462…1D43bav2 · clone | 0x3777…B1E0 | 0.1372 | 5.0k | 175% | 36'667 | 1.75% | 20% | 24 h | 31 Mar 2027 |
19 closed or denied positions
| 0x4a3834…112cbEv2 · clone | 0xfE63…B2A8 | 0.0000 | 0 | – | 30'000 | 1.75% | 20% | 24 h | 14 Jul 2027 |
| 0x3B07CE…4011a7v2 · clone | 0xc984…1dc9 | 0.0000 | 0 | – | 45'000 | 1.75% | 20% | 24 h | 30 Sept 2026 |
| 0xA4158e…DA0f9Av2 · clone | 0x798d…6167 | 0.0000 | 0 | – | 45'000 | 1.75% | 20% | 24 h | 30 Sept 2026 |
| 0x0744FD…C80C0Fv2 · clone | 0x3D60…96a1 | 0.0000 | 0 | – | 35'000 | 1.75% | 20% | 24 h | 21 May 2026 |
| 0x1d48F8…aa2Dcev2 · clone | 0x3D60…96a1 | 0.0000 | 0 | – | 45'000 | 1.25% | 20% | 24 h | 16 Apr 2026 |
| 0xC7bdd6…290782v2 · clone | 0x6616…7945 | 0.0000 | 0 | – | 42'000 | 1.25% | 20% | 24 h | 12 Jul 2026 |
| 0x8179Ce…f7Fd0Cv2 · clone | 0xc2fe…D930 | 0.0000 | 0 | – | 42'397 | 1.25% | 20% | 24 h | 30 Jun 2026 |
| 0x6C6ad6…a7DB39v2 · clone | 0x6433…3032 | 0.0000 | 0 | – | 41'070 | 1.25% | 20% | 24 h | 30 Jun 2026 |
| 0xDF07D6…f505E8v2 · clone | 0x5b61…F1C0 | 0.0000 | 0 | – | 40'000 | 1.25% | 20% | 24 h | 31 Mar 2027 |
| 0x8b06f6…3793Dfv2 · clone | 0xbfE1…494e | 0.0000 | 0 | – | 43'069 | 1.75% | 20% | 24 h | 31 Mar 2026 |
| 0x444717…0E4893v2 · clone | 0xbfE1…494e | 0.0000 | 0 | – | 43'069 | 1.75% | 20% | 24 h | 31 Mar 2026 |
| 0x4f3427…14EFfAv2 · clone | 0x963e…b301 | 0.0000 | 0 | – | 43'069 | 1.75% | 20% | 24 h | 31 Mar 2026 |
| 0x797749…BC0b8fv2 · clone | 0x5C93…CA04 | 0.0000 | 0 | – | 43'100 | 1.75% | 20% | 24 h | 31 Mar 2026 |
| 0x6971eC…064864v2 · clone | 0x80A0…3BC0 | 0.0000 | 0 | – | 40'000 | 1.75% | 20% | 24 h | 31 Dec 2026 |
| 0x883Ac4…2FeB59v2 · clone | 0x5f23…0846 | 0.0000 | 0 | – | 43'069 | 1.75% | 20% | 24 h | 31 Mar 2026 |
| 0xB4b394…1C75eCv2 · clone | 0x220B…1809 | 0.0000 | 0 | – | 43'100 | 1.75% | 20% | 24 h | 08 Feb 2026 |
| 0x8ba0D7…bad423v2 · clone | 0x5275…f3a2 | 0.0000 | 0 | – | 55'000 | 1.75% | 20% | 24 h | 04 Mar 2026 |
| 0xA733d5…79484ev2 · clone | 0x5a4F…2dE6 | 0.0000 | 0 | – | 40'000 | 1.75% | 20% | 24 h | 29 Nov 2026 |
| 0x293c66…e35db8v2 · clone | 0xA30a…39c0 | 0.0000 | 0 | – | 39'000 | 1.75% | 20% | 24 h | 24 Oct 2026 |
Effective interest includes the reserve adjustment. Collateral ratio = collateral value at the current price ÷ minted. Open a position on app.frankencoin.com ↗.
Changes & sources
Governance reference: not linked. A discussion link and a published assessment do not by themselves verify an adopted parameter set.
All protocol parameters
Reference market price
64'106 CHF
$79'171
Minted ZCHF
8.0M
debt against this collateral
Remaining aggregate limit
7.0M
of 15.0M ZCHF total limit
Estimated collateral value
13.8M CHF
216.70 cbBTC locked
Open positions
15
15 total · 2 original / 13 clones
Debt / collateral value
58.1%
debt ÷ reference-priced collateral
Contract risk premium (V2)
0.32%
positions range 0.00% – 0.40%
Annual fee rate on gross debt
1.32%
= base rate + contract premium, before reserve adjustment
Challenges
0
active · 0 total
Source: protocol aggregate (api.frankencoin.com/ecosystem/collateral/stats) · price via defillama (07 Sept 2026, 14:22 UTC)
Community discussion
No discussion thread found for this collateral yet.