Summary
Ketju does not approve Stacks sBTC: we could not confirm how long withdrawals take, though its signer committee matches one Ketju approves. sBTC does not use a small custodial multisig. Instead, 14 to 15 elected signers, including Figment, Blockdaemon and Kiln, approve mints at a threshold of roughly 70%. That committee is close in size to Lombard BTC.b’s 14-member Security Consortium, which approves at 10 of 14 and which Ketju approves. Stacks’ own documentation gives no timing for deposits or withdrawals, and we could not confirm how peg-out works anywhere. Without confirmed redemption terms, we cannot judge what a redemption would look like under stress.
Review triggers
- Withdrawal or peg-out timing and steps are independently confirmed and shown to work at proposed size
- Current signer count and threshold are confirmed precisely, resolving the discrepancy across sources
- Phase 3's permissionless signer model, tied to Proof-of-Transfer, is built and independently verified
- Twelve consecutive months with no depeg or signer-related incident following the above disclosures
Facts
- Verdict
- Not approved
- Type
- Other
- Chains examined
- Ethereum
- Reviewed
- Last confirmed