Bitcoin bridge and PBTC

In shortPBTC is Bitcoin held one-to-one in the bridge's cold vault. Deposit BTC to a vault address and PBTC is minted to your wallet; send PBTC back and BTC is paid to the address you chose. Reserves are public.

Backing

1 PBTC = 1 BTC in the vault

Fees

0.25% in, 0.25% out plus miner fee

Deposit confirmations

2 to 6, by size

Payouts

batched every 10 minutes

PBTC is a Phantasma token that stands for Bitcoin held by the Saturn bridge. Every PBTC in circulation is matched by BTC sitting in the bridge's cold vault, and the Bridge page shows that match, read from the Bitcoin network, every few minutes. It is what lets RA and TAZ trade against real Bitcoin on Saturn without anyone leaving the chain.

Depositing BTC

1. Open Bridge, Deposit BTC, and connect the wallet that should receive the PBTC.
2. Press Get a deposit address. The address is derived from the vault's public key for you alone; the bridge can see it but cannot spend from it.
3. Send BTC from any wallet. Under 0.01 BTC needs 2 confirmations, under 0.1 needs 3, larger amounts need 6.
4. Once confirmed, PBTC equal to your deposit minus the 0.25 percent fee is minted to your wallet. The row in Your deposits links both transactions.

Do not send less than the minimum shown on the page. Amounts below it cannot be credited and are kept as a fee.

Withdrawing BTC

1. Open Bridge, Withdraw BTC. Enter the amount and the Bitcoin address to pay, then Create order.
2. Press Send PBTC. Your wallet signs one transfer of exactly that amount to the bridge, with the order id inside the transaction, so the bridge can match it.
3. The bridge checks the transfer on chain, burns the PBTC, and queues the payout. Payouts leave in batches every ten minutes or when five are waiting, so the miner fee is shared.
4. Your order shows paid after the Bitcoin transaction confirms. The page links it.

• Fee: 0.25 percent with a floor of 5,000 sats, plus your share of the batch's miner fee, all deducted from the payout.
• Orders above the page's approval limit wait for an operator before they are paid.
• An order expires after an hour if no PBTC arrives. Sending after that does not fund it; open a new order.

What keeps it honest

• The vault is a cold wallet. The bridge holds its public key only, so it can watch deposits and never spend them. Withdrawals are paid from a small separate float.
• Every deposit and every redemption is recorded once, keyed by the transaction itself, so nothing is minted or paid twice.
• If the vault ever holds less BTC than the PBTC in circulation needs, the bridge pauses both directions on its own.
• PBTC is issued by one wallet that is only allowed to mint against a confirmed deposit; its supply is public on the chain.

PBTC is custodial: the BTC behind it is held by the bridge operator. Check the reserves line before relying on it, and keep only what you are trading on the chain.