> For the complete documentation index, see [llms.txt](https://docs.hermetica.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.hermetica.fi/hbtc.md).

# hBTC

- [Overview](https://docs.hermetica.fi/hbtc/overview.md)
- [How it Works](https://docs.hermetica.fi/hbtc/how-it-works.md)
- [Flows](https://docs.hermetica.fi/hbtc/how-it-works/flows.md)
- [Yield](https://docs.hermetica.fi/hbtc/how-it-works/yield.md): Where does hBTC yield come from?
- [Basis](https://docs.hermetica.fi/hbtc/how-it-works/yield/basis.md)
- [Staking](https://docs.hermetica.fi/hbtc/how-it-works/yield/staking.md)
- [Liquidity](https://docs.hermetica.fi/hbtc/how-it-works/liquidity.md)
- [Risk Controls](https://docs.hermetica.fi/hbtc/how-it-works/risk-controls.md)
- [Accounting](https://docs.hermetica.fi/hbtc/how-it-works/accounting.md)
- [Governance](https://docs.hermetica.fi/hbtc/how-it-works/governance.md)
- [Smart Contracts](https://docs.hermetica.fi/hbtc/how-it-works/smart-contracts.md)
- [Transparency](https://docs.hermetica.fi/hbtc/transparency.md)
- [Reserve Fund](https://docs.hermetica.fi/hbtc/reserve-fund.md)
- [Audits](https://docs.hermetica.fi/hbtc/audits.md)
- [Fees](https://docs.hermetica.fi/hbtc/fees.md)
- [Risk Disclosures](https://docs.hermetica.fi/hbtc/risk-disclosures.md)
- [Infrastructure Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/infrastructure-risk.md)
- [Smart Contract Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/smart-contract-risk.md)
- [Counterparty Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/counterparty-risk.md)
- [Market Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/market-risk.md)
- [Operational Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/operational-risk.md)
- [General Risk](https://docs.hermetica.fi/hbtc/risk-disclosures/general-risk.md)