What is Liquid Bitcoin (L-BTC)?

Liquid Bitcoin (L-BTC) is a synthetic asset representing Bitcoin on the Liquid Network sidechain. The supply of L-BTC is verifiably backed 1-to-1 with Bitcoin (BTC) held by the Liquid Federation on the Bitcoin mainchain. In addition to being a gas asset for all transaction fees, L-BTC can be used for trading and lending and borrowing on Liquid Network.