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The operation of Wrapped Bitcoin is quite simple; a user who owns a certain amount of BTC in their wallet can request either from an enabled "merchant", by undergoing KYC and/or AML processes, or through a DEX, to transform their sum into WBTC, which are minted according to the demand. This will allow the user to use them as they wish within any Lending or Margin Trading dApps, for example.

Each time a WBTC is minted or burned, the blockchain will track and verify any changes. The process of reducing the circulating supply, called "Burning" in technical language, occurs as soon as the user requests to redeem their WBTC in BTC. 

The integrity of the WBTC ecosystem is made possible thanks to the interaction of different parties, including enabled "merchants", DEXs, "custodians" and DAO members. 

It is possible to keep track of the continuous updating of the network in the WBTC "Order Book".