# ETH and BTC based Derivatives

## BTC Based derivatives

#### PumpBTC

* Roughly 8% market share of the Bitcoin LRT market 
* Over $370mil in TVL (at the time of writing) 
* Over $19mil worth of liquidity in Uniswap V3 
* Based on (re) staking the following assets: FBTC + WBTC 

#### EBTC

* Over $600mil in TVL (at time of writing)
* $7.2mil worth of liquidity on Curve
* Roughly 22% market share of the Bitcoin LRT market 

#### SolvBTC

* Offers two different Bitcoin backed LSD’s, and beraborrow will accept the following as collateral assets: 
* * 1:1 Backed -> SolvBTC
  * Yield bearing -> SolvBTC.BBN
* Consists of around 20% of the Bitcoin LRT market share 
* Offer a fully transparent proof of reserve system -> showing that, in real time, each asset is fully backed 1:1 by BTC

#### UniBTC

* Offers a restaked Bitcoin derivative, via staking on Babylon 
* Offer a proof of reserves solution via Chainlink 
* Just over $400mil in TVL (at time of writing) 
* Have $85mil worth of liquidity on Ethereum’s Taiko DEX (at time of writing) 

#### SBTC

* Offers a simple 1:1 backed Bitcoin derivative, no underlying yield to keep track of
* Accepts cbBTC, fBTC, bBTC as collateral for their derivative asset
* Working with eOracle as their oracle provider 
* Raised over $20mil
* Just over $17mil worth of TVL (at time of writing) 

#### LBTC

* Lombard have over $1billion in TVL (at time of writing)
* Underlying derivative is backed by vanilla Bitcoin, which is staked with Babylon to earn yield 
* Utilise Redstone as their proof of reserves solution 
* $40mil worth of liquidity is present on their Uniswap V3 LBTC/WBTC pair
* Consists of over 25% market share of the current BTC LRT market (at time of writing) 

## ETH Based Derivatives

#### BeraETH (Bridged pxETH)

* ETH staking derivative by Redacted Cartel 
* Has roughly $17mil worth of liquidity sitting in a Curve pool (pxETH-WETH pair) 
* Use Redstone as their oracle provider

\
**StoneETH**

* Offer a yield bearing ETH derivative that is yield bearing based on a number of different strategies 

#### CianETH

* Accepts wsETH, stETH and wETH as the underlying backing for its derivative receipt token 
* Underlying yield is derived from a number of different sources, such as Eigenlayer AVS yield and Renzo points


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://beraborrow.gitbook.io/docs/borrowing/understanding-collateral/eth-and-btc-based-derivatives.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.