The memo
REJECTED ON UNCONFIRMED WITHDRAWAL TIMING, DESPITE A SIGNER COMMITTEE COMPARABLE TO AN ALREADY-APPROVED PEER. sBTC uses a genuinely different design from custodial wrappers: 14 to 15 elected signers, including named entities such as Figment, Blockdaemon, and Kiln, approve mints at a roughly 70% threshold rather than a small custodial multisig — a committee comparable in size to Lombard BTC.b's approved 14-member, 10-of-14 Security Consortium. But Stacks' own documentation does not specify deposit or withdrawal timing for either direction, and this review could not confirm the peg-out mechanics anywhere. A comparably sized committee is not sufficient on its own; without confirmed exit terms this registry cannot certify what a stressed redemption would actually look like.
What would reopen the file
- Withdrawal or peg-out timing and mechanics are independently confirmed and demonstrated at proposed size
- Current signer count and threshold are confirmed precisely, resolving the discrepancy across sources
- Phase 3's permissionless, Proof-of-Transfer-integrated signer model is implemented and independently verified
- Twelve consecutive months with no depeg or signer-related incident following the above disclosures
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Ethereum
- Memo version
- v1
- Reviewed
- Next review