WBTC on BOB is being upgraded to an OFT, or Omnichain Fungible Token. The LayerZero OFT Standard provides a framework that makes it easy to transfer fungible tokens like WBTC across a wide variety of different blockchains.

This means users and institutions can rapidly bridge WBTC to BOB from EVM networks and others including Solana, Aptos and much more. 

The previous WBTC contract on BOB is non-upgradable, so existing WBTC liquidity will need to be manually migrated - user action is required to swap from the old to the new OFT version of WBTC. 

The new WBTC OFT contract and a Stargate route between BOB and Ethereum have now been deployed. WBTC holders on BOB are therefore requested to migrate their assets to the new standard. 

To make this as simple as possible, a 1:1 swap contract has been created, accessible via the migration page in the BOB App. You simply deposit original WBTC to receive OFT WBTC, without needing to bridge your assets off BOB.

This swap contract has been seeded with $8,000,000 of WBTC OFT liquidity, which should be plenty for the current retail liquidity on BOB. But please note that this liquidity is available on a first-come, first-served basis, and the swap contract is planned to be deprecated in 90 days on October 29th, 2025. 

If you need to migrate after this date, if the liquidity in the swap contract is used up, or if your WBTC position is greater than $200,000, we kindly ask that you migrate by bridging your WBTC off BOB, and then back to BOB via the BOB Bridge or Stargate. This will convert your standard WBTC on mainnet to the OFT version of WBTC on BOB. Please note: While bridging WBTC off BOB by the native bridge to Ethereum will take up to 7 days, the return trip via Stargate will finalise in just a couple of hours.

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Old contract address: 0x03C7054BCB39f7b2e5B2c7AcB37583e32D70Cfa3

New contract address: 0x0555E30da8f98308EdB960aa94C0Db47230d2B9c

Old Name & Symbol: Bridged WBTC (WBTC)

New Name & Symbol: Wrapped BTC (WBTC)

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