Coinbase Wrapped LTC
CBLTC
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Coinbase Wrapped LTC (CBLTC) is a centralized ERC-20 wrapped asset deployed on the Base network, backed 1:1 by Litecoin held in Coinbase custody with transparent proof-of-reserves. Active Development (6.5/10) and Team and Governance (7.0/10) benefit from Coinbase's operational backing, institutional custody infrastructure, and transparent mint/burn mechanics. Security and Audit History (7.5/10) is anchored by an OpenZeppelin audit of Coinbase's wrapped-token framework and a clean incident track record with no protocol exploits or depegs. However, the asset suffers from structural limitations: Community Support (2.0/10) is minimal due to the absence of independent grassroots governance or a DAO, while Market and Use Case (4.0/10) reflects niche adoption, thin liquidity concentrated on Aerodrome, and a sub-$5M market cap. Tokenomics (6.0/10) is transparent but carries significant centralized counterparty risk inherent to custodial assets. No qualifying red-flag events were identified, and no section had missing data.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Coinbase Wrapped LTC (CBLTC)
Coinbase Wrapped LTC (CBLTC, also known as cbLTC) is an ERC-20 wrapped asset issued on the Base network. Launched in June 2025 by Coinbase, the token is designed to bring Litecoin exposure into the Base decentralized finance (DeFi) ecosystem. It operates with an elastic, demand-driven supply where each token is backed 1:1 by Litecoin held in Coinbase custody, supported by public proof-of-reserve reporting.
The underlying wrapped-token contract framework utilized by Coinbase was audited by OpenZeppelin in August 2022. Because of its custodial design, CBLTC lacks independent decentralized governance, a DAO, or a separate community infrastructure. Coinbase serves as the sole custodian, mint authority, and burn authority, retaining administrative control over the token contracts.
While the project has experienced no smart contract exploits, hacks, or depeg events, it carries inherent centralized counterparty risk, linking token redemption and security to Coinbase's operational and custodial status. Additionally, the asset maintains a niche market footprint with a market capitalization below $5 million and liquidity primarily concentrated on decentralized trading venues such as Aerodrome Slipstream.