cbBTC on Monad: the canonical reference for Coinbase Wrapped BTC

This is the MONAF canonical reference for cbBTC on Monad mainnet as of 27 October 2026. The token list names it Coinbase Wrapped BTC, symbol cbBTC, 8 decimals, address 0xd18B7EC58Cdf4876f6AFebd3Ed1730e4Ce10414b. It is bridged, not natively issued. The extension says Chainlink CCIP, bridge contract 0x33566fE5976AAa420F3d5C64996641Fc3858CaDB. The docs say it is bridgeable from Base, through Transporter, and they name a Curve pool that holds cbBTC together with WBTC and LBTC, plus a Uniswap USDC/cbBTC pool. Redemption for bitcoin, if your situation allows it, is a Coinbase and CCIP question. It is not a withdraw() on this contract, and it is not a Pancake swap.

Why it is not WBTC

WBTC is an OFT at 0x0555E30da8f98308EdB960aa94C0Db47230d2B9c, bridged by LayerZero from many chains. cbBTC is a CCIP token at the address above, bridged from Base. Both have 8 decimals. Both track bitcoin closely enough that Curve stable-swaps them with LBTC. Your wallet does not stable-swap them when you transfer. A transfer of cbBTC to a contract that asked for WBTC leaves cbBTC in a contract that may not have a path to return it. The allowance is per contract. The first close of each is its own approval. The fill remembers which one you bought, and the close sells that one.

When both pools would accept a clip, this desk uses WBTC, because its measured round trip has been lower. The cbBTC card stays on the list anyway. A call on WBTC does not delete it. Holding both is allowed and is two positions. The gap between their MON prices is the basis between two pools. Crossing it costs two fees. If that gap is smaller than the fees, the cheaper-looking coin is not cheaper.

Coinbase Wrapped BTC. CCIP from Base. Eight decimals. WMON is token0. Not an OFT, and not WBTC.

The pool

Execution pool: 0x614B85502B89540Bb79bE98d5429EC032A78A284, PancakeSwap v3, fee 500. WMON is token0. token0IsMon is true, which is the WETH and USDC direction, not the WBTC direction. Reference pool, not used to execute: 0xebc92C45C652E9AaE8a886fA49Fb2135796d1be1. Router: 0x21114915Ac6d5A2e156931e20B20b038dEd0Be7C. Raw cbBTC out for a MON spend in wei is that wei times the sqrt price squared, over 2^192. MON value of a raw balance divides by the square. Run the WBTC formula here and the mark inverts. A healthy 50 MON clip marks near 50 MON just after entry. A million, or a fraction of a MON, is the formula or the decimals.

Size

Minimum entry in the registry is 10 MON. The measured round trip is about 0.72 percent at 10 MON and about 7.3 percent at 1 MON. The 1 MON size is refused. At a bitcoin print near the WBTC card, 50 MON is on the order of 0.0000136 coins, about 1,360 raw units. Four-decimal wallets will hide it. Divide by 1e8. The two wrappers will not match to the last raw unit. That is the basis, not a bug in the card, and it is not a reason to buy both unless you mean to.

What a button does, and what a bridge does

The cbBTC button is dark on its own card. It can light on USDC, WETH, and WBTC when the wallet holds the token and native MON for gas. The path hops through WMON. You stay on Monad. Bridging back to Base is Transporter and the CCIP contract named above, a different signature, a different destination chain, and not something Close will attempt. Close sells on the pool. The floor starts at half the mark so the next block does not revert a reasonable exit, and a small gain is not a reason for the button to refuse. That rule is general. It is not special to cbBTC.

Separation checklist

Contract 0xd18B7EC5…414b means this token. Contract 0x0555E30d…2B9c means WBTC. Bridge 0x33566fE5…aDB means CCIP, not an OFT send. Pool 0x614B…8A284 with fee 500 means the desk’s execution pool. token0 is WMON. Raw amount divided by 1e8 matches the size. Chain id is 143. Spender, if you approved, is the Pancake router. Any one of those wrong is a reason to stop, including a wallet row that says BTC in a larger font than the contract.