Roles

System Roles

Qualified User

An entity or a party that mints FBTC from BTC and burns FTBC into BTC is known as a qualified user. A qualified user can be an institution, an individual or a merchant. Each qualified user will have to fulfill certain requirements and complete Know Your Customer (KYC) or Know Your Business (KYB) before onboarding. Qualified users play a pivotal role in the distribution of FBTC. If you want to know current qualified users information, please check here.

Security Council

FBTC has introduced a Security Council, which is responsible for BTC custodian MPC multi-signature and the bridge's TSS Nodes running. Currently, Mantle, Antalpha Prime, and Cobo serve as the initial council members, with plans to gradually introduce more trusted council members.

Custodians

The custodians refer to the financial institutions that hold customers' assets for safekeeping to prevent them from being stolen or lost. The custodian has responsibility for the care, preservation, and management of the assets on behalf of the customers. In the case of FBTC, the custodians manage users’ assets in an MPC address whose key shares are held by several trusted institutions. Custodians guard the user-deposited BTC and conduct the FBTC issuance under restricted risk control in a decentralized way.

Contract Roles

Contract Owner (Owner)

Responsibilities:

• Safe MultiSig

• Holds the highest authority to make significant changes and manage the contract.

• Executes contract upgrades and sets new implementation contract addresses.

• Adds or removes qualified users.

• Sets fee models and fee recipients.

• Pauses or resumes contract functions when necessary.

Minter

Responsibilities:

• Responsible for minting and burning FBTC tokens.

• Confirms users' minting and burning requests.

• Ensures that the circulation and supply of tokens comply with system rules.

Pauser

Responsibilities:

• Has the authority to pause and resume contract functions.

• Pauses critical operations of the system promptly when potential risks or vulnerabilities are detected.

Safety Committee Member

Responsibilities:

• Safe MultiSig

• Handle emergencies by executing emergency burn operations to protect the system and user assets.

• Review and respond to potential security threats.