# Function

> Bitcoin, financialized

Function is a protocol that converts Bitcoin into FBTC, a 1:1 backed token deployable across DeFi networks for yield and lending.

Function allows BTC holders to access yield, liquidity, and capital efficiency by minting FBTC, a 1:1 Bitcoin-backed token. Users can deploy FBTC across lending, staking, and vault strategies on networks including Ethereum, Arbitrum, and Mantle. Each FBTC token is fully backed by Bitcoin reserves that are publicly verifiable on-chain.

- Type: Protocol
- Sector: Finance
- Status: Active
- Founded: 2024-04-01
- Profile: https://thegrid.id/profiles/function

## Products

- [FBTC](https://thegrid.id/profiles/function): FBTC is a multi-chain Bitcoin wrapping protocol that issues ERC-20 tokens backed 1:1 by native BTC held in custodial addresses, enabling BTC holders to access DeFi yield strategies across multiple blockchains. Merchants deposit BTC to custodial addresses and mint FBTC on destination chains through FireBridge smart contracts, with cross-chain transfers confirmed by threshold signature scheme nodes. The protocol is deployed on Ethereum, Mantle, BNB Smart Chain, Arbitrum, Base, and several other networks. (Bridge, Live, Main Product)

## Assets

- [FBTC (FBTC)](https://thegrid.id/profiles/function): FBTC is a wrapped Bitcoin token issued by Function, backed 1:1 by BTC held in custody. It is used for collateral in lending markets, liquidity provision, and yield strategies across multiple blockchains. Custodian-held Bitcoin reserve addresses are publicly verifiable, enabling confirmation that the total FBTC supply is fully backed. (Wrapped Tokens)

## Links

- [Main](https://www.fxn.xyz)
- [Documentation](https://docs.fbtc.com)
- [Whitepaper](https://www.fxn.xyz/FBTC-Whitepaper.pdf)
- [Privacy policy](https://www.fxn.xyz/privacy-policy)
- [Terms of Service](https://www.fxn.xyz/terms_of_service)
- [Media Kit/branding](https://drive.google.com/drive/folders/0ACVovE8xnZsNUk9PVA)
- [Twitter / X](https://x.com/FunctionBTC)
- [Discord](https://discord.gg/functionbtc)
- [Medium](https://medium.com/FunctionBTC)
- [GitHub](https://github.com/fbtc-xyz)
- [LinkedIn](https://linkedin.com/company/functionbtc)
- [Telegram](https://t.me/FBTC_Official)

## Legal

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Model 1 - open data. The open data core is licensed under the Open Database License (ODbL) — a copyleft/share-alike license allowing free use, modification, and sharing for any purpose. Attribution is required: include "Powered by The Grid" linking to https://thegrid.id wherever the data is used. Derivative databases must be shared under ODbL terms. Trademarks, logos, and brand names (marked "Special TPIP") are not covered by the ODbL. For ML/AI use: training datasets that substantially extract ODbL data are Derivative Databases and must be shared under ODbL if publicly used; models must be attributed in documentation.

Model 2 - commercial licenses. The Grid Data Service (TGDS) is also available as a commercial license. See [Web Services Terms](https://about.thegrid.id/legal/web-services-terms) for commercial use that is not covered by the open data service.

The following applies to both licensing models.
- All data is provided AS IS with no guarantees of accuracy.
- The Grid does not provide investment, legal, or tax advice, and
- a project's presence in The Grid's data does not imply endorsement.


- [Data Licensing & Disclaimers](https://about.thegrid.id/legal/data-licensing-and-disclaimers): Licensing models and disclaimers
- [Open Data (ODbL)](https://about.thegrid.id/legal/open-data): Open Database License terms and scope for The Grid's open data service.
- [Attribution Guidelines](https://about.thegrid.id/legal/open-data-attribution-guidelines): How to attribute The Grid's data when using the open data service.
- [Web Services Terms](https://about.thegrid.id/legal/web-services-terms): commercial Terms for using data services.
- [All Legal Documents](https://about.thegrid.id/legal): Full index of terms, policies, and disclosures

## Optional

- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
- [TGS JSON Structure](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-json-structure.md): Data model structure and relationships
- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP