# Interlay

> One app, all things Bitcoin DeFi

Interlay is a Bitcoin DeFi protocol that lets users bridge BTC across blockchains as iBTC and use it to swap, borrow, and lend via a decentralized, collateral-insured network.

Interlay is a modular protocol layer connecting Bitcoin to the multi-chain ecosystem through a trustless decentralized bridge. Users lock BTC with overcollateralized vault operators to mint iBTC, a 1:1 Bitcoin-backed token redeemable for native BTC at any time. Operating as a Polkadot parachain, the protocol is governed by INTR token holders via onchain DAO voting. The Interlay DeFi Hub app lets users swap, borrow, and lend iBTC across supported networks, with vault operators earning fees and providing collateral insurance.

- Type: Company
- Sector: Finance
- Status: Active
- Founded: 2019-01-01
- Profile: https://thegrid.id/profiles/interlay

## Products

- [Kintsugi](https://thegrid.id/profiles/interlay): Kintsugi is the experimental Bitcoin bridge and DeFi network running as a Kusama parachain, serving as the canary deployment for Interlay's interBTC protocol. Users lock native BTC with overcollateralized vault operators to mint kBTC, a 1:1 Bitcoin-backed token redeemable for native BTC at any time. The network also includes an integrated AMM, borrowing, and lending interface accessible at kintsugi.interlay.io, governed by KINT token holders. (Bridge, Live)
- [Interlay DeFi Hub](https://thegrid.id/profiles/interlay): The Interlay DeFi Hub is an integrated Bitcoin DeFi app running on the Interlay parachain, combining an AMM-based DEX, a borrowing protocol, and a lending market into a single interface at app.interlay.io. Users swap iBTC for other assets, borrow against iBTC collateral, or supply iBTC to earn yield from borrowers. The hub routes cross-chain liquidity through iBTC, enabling Bitcoin holders to access DeFi across multiple supported networks. (Decentralised Borrowing & Lending, Live, Main Product)
- [interBTC](https://thegrid.id/profiles/interlay): interBTC is a trustless Bitcoin bridge that lets users lock native BTC with decentralized vault operators and mint iBTC at a 1:1 ratio on the Interlay Polkadot parachain. Vault operators deposit overcollateralized assets such as DOT or USDT as insurance, with collateral slashed to reimburse depositors in the event of vault failure. iBTC is redeemable for native BTC on the Bitcoin blockchain at any time without reliance on a central intermediary. (Bridge, Live, Main Product)

## Assets

- [Interlay (INTR)](https://thegrid.id/profiles/interlay): INTR is the governance and utility token of the Interlay protocol. It is used by holders to stake and vote on protocol proposals, pay transaction fees on the Interlay parachain, and serve as collateral for vault operations that back iBTC issuance. INTR has an initial supply of one billion tokens distributed over four years as vault rewards and staking incentives, with 2% annual inflation thereafter allocated to the protocol treasury. (Governance)
- [Kintsugi BTC (KBTC)](https://thegrid.id/profiles/interlay): KBTC is a fully decentralized 1:1 Bitcoin-backed asset issued on the Kintsugi Kusama parachain. It is minted when users lock native BTC with overcollateralized vault operators and redeemable for native BTC on the Bitcoin blockchain at any time. KBTC serves as the primary reserve asset within Kintsugi's experimental DeFi environment, usable for swapping, lending, and borrowing. (Wrapped Tokens)
- [Kintsugi (KINT)](https://thegrid.id/profiles/interlay): KINT is the governance and utility token of the Kintsugi network, Interlay's experimental Kusama parachain. It is used by holders to stake and vote on network governance proposals, pay transaction fees on the Kintsugi chain, and serve as collateral in vault operations backing kBTC issuance. KINT mirrors the role of INTR on Interlay but operates in the higher-risk, faster-moving Kusama environment. (Governance)
- [Interlay BTC (IBTC)](https://thegrid.id/profiles/interlay): IBTC is a 1:1 Bitcoin-backed asset issued on the Interlay Polkadot parachain through the interBTC bridge protocol. It is minted when users lock native BTC with overcollateralized vault operators and is redeemable for native BTC on the Bitcoin blockchain at any time without reliance on a central intermediary. IBTC is usable across the Interlay DeFi Hub for swapping, borrowing, and lending, and is transferable to other networks via cross-chain messaging. (Wrapped Tokens)

## Links

- [Main](https://www.interlay.io)
- [Whitepaper](https://gateway.pinata.cloud/ipfs/QmWp62gdLssFpAoG2JqK8sy3m3rTRUa8LyzoSY8ZFisYNB)
- [Documentation](https://docs.interlay.io)
- [Terms of Service](https://drive.google.com/file/d/1_oA3ZHoqzIFcE7Z-YeNTJ8g3bpeB9Glt/view)
- [Privacy policy](https://static.interlay.io/Interlay%20Privacy%20policy.pdf)
- [Governance](https://interlay.subsquare.io)
- [Twitter / X](https://x.com/interlayHQ)
- [YouTube](https://www.youtube.com/@InterlayHQ)
- [Medium](https://medium.com/interlay)
- [Telegram](https://t.me/interlay)
- [Discord](https://discord.com/invite/interlay)
- [Telegram](https://t.me/interlay_community)
- [GitHub](https://github.com/interlay)
- [LinkedIn](https://linkedin.com/company/interlay-network)

## Legal

This data is provided under two licensing models.

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
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- [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