I wanted to start this discussion off the back of [referendum #197](https://hydration.subsquare.io/democracy/referenda/197) which stopped farming rewards for WBTC/ iBTC 2-Pool.

BTC is a critical asset for the Hydration DAO but it is important to not blindly ignore risks associated with our existing portfolio products (WBTC & iBTC). At the time of writing this, Hydration holds 17 WBTC which are supplied to our Money Market and around 34 BTC 2-Pool shares (so approximately 17 WBTC & 17 iBTC) in the Omnipool.

I would like to explore diversifying some of these into either tBTC or cbBTC - my personal preference would be tBTC due to the inherently more decentralised design, which I believe in combination with Snowbridge could prove to be a killer product. I personally believe that due to our limited Treasury we should select only one - so something like:

- withdraw 2/3 of WBTC from money market
- withdraw all BTC 2-Pool shares from Omnipool
- add iBTC & WBTC to Omnipool directly (half of our current 2-Pool equivalent) so they are no longer pegged to one another and market forces can do what they need to
- Diversify the remainder of WBTC & iBTC into tBTC through Snowbridge (2/3+) and consider options for the remaining
- Launch tBTC in Omnipool
- Launch tBTC in Money Market
- Profit? (this part is shitpost, NFA)

### tBTC
https://www.coingecko.com/en/coins/tbtc
https://x.com/TheTNetwork
Threshold has recently had a lot of attention due to their proposal to take over the WBTC product entirely
$479M total supply

### cbBTC
https://www.coingecko.com/en/coins/coinbase-wrapped-btc
$2.1B total supply
cbBTC is a product of Coinbase CEX

#223 Diversify WBTC/ iBTC holdings to alternative BTC products