To close out launch day, we put together a summary compiling everything you need to know about eBTC.
To recap...
🟣 eBTC is Live on Mainnet
🟣 Get Paid to Borrow Bitcoin Month Kicks Off
🟣 Galxe Quest is Live
Read More 👇
badgerdao.medium.com/ebtc-is…
1/ Is the market giving you a case of the Mondays? 😢
When your bags are down, find comfort in juicy yields.
With the help of @LidoFinance, eBTC is PAYING YOU to Borrow Bitcoin using ETH or WETH.
Time is running out. Let us show you what you might be missing out on👇
BlackRock, the biggest asset manager in the world will be using @CurveFinance as a primary liquidity hub.
Perfect moment to stack $CRV
Might be biased though 👀
Security Matters 🟣
With over a year of active development, bringing a immutable DeFi protocol to life while upholding the highest security standards is not an easy task.
This is the security rigour the #eBTC protocol has gone through.
🧵
Are you ready to take the purple pill anon? 🟣
Announcing the official release of the eBTC dapp live on testnet.
Try It Now ➡️ alpha.ebtc.finance/
Huge day as we’re that much closer to mainnet launch!
🧵
Today is a big day after 1+ year of development in the depths of the 🐻.
The eBTC protocol codebase is now public and open sourced.
🟣 github.com/ebtc-protocol/ebt…
The march to launch continues with public beta of the dapp and testnet on the horizon next.
The #Chainlink platform accelerates the adoption of LSTs and LRTs within DeFi by providing crucial data, compute, and cross-chain services:
• Market rate feeds
• Exchange rate feeds
• Cross-chain transfers
• Proof of Reserve
And much more—dive in👇
blog.chain.link/chainlink-fo…
1/ eBTC is approaching fast, but our risk management process is slow and methodical.
With the help of risk management experts at @BlockAnalitica and @SteakhouseFi, we established BALCO to monitor and optimize eBTC parameters.
What does that entail? See below 🧵👇
$CRV is up 25% in the last month.
Here's how you can stack it up:
Add liquidity to the eBTC/tBTC pool on @CurveFinance & earn CRV rewards.
Simple as that! 🎯
Who doesn’t like some sweet $CRV rewards?
By adding liquidity into the eBTC/ tBTC pool on @CurveFinance ⤵️
You can now get upside on the primary liquidity hub of BlackRock, the biggest asset manager in the world.
To celebrate the launch of eBTC, we are running a month long campaign with our frens at @Galxe.
A $10,000 prize pool is up for grabs just for learning more about eBTC and helping to spread the word.
Will you embark on the quest anon?
galxe.com/7bJT2zk9hG9yjV6xEJ…
~12% APR on the eBTC/tBTC pool on @ConvexFinance sounds like a solid start to the week.
Let your assets do the heavy lifting while you focus on the bigger picture.
Native ETH deposits to borrow eBTC are now live on testnet
Protocol auto stakes your ETH to start earning yield.
With ZERO fees on eBTC, for the first time you actually get paid to borrow $BTC against your $ETH
With $CRV up 400% in a month, now’s the time to act.
Boost your returns by earning up to 10% APR with the eBTC/tBTC pool on @CurveFinance
Join below ⤵️
Introducing leverage on eBTC 🥳
You can now leverage your collateral up to 10x with eBTC, the most decentralized Bitcoin built on Ethereum.
Get more out of your stETH, ETH or wETH below ⤵️
Building a DeFi protocol while upholding the highest security standards is not an easy task.
This is the security rigor the $eBTC protocol has gone through that can hopefully be a standard others follow when launching their own projects.
🧵 1/10
🚨 𝗡𝗲𝘄 𝗣𝗼𝗼𝗹 𝗔𝗹𝗲𝗿𝘁 🚨
✅ We pay you to borrow #Bitcoin.
✅ We pay you to provide eBTC/wBTC liquidity.
Now, with support from our frens at @LidoFinance, you can earn even more when you deposit and stake with the new eBTC/wstETH LP.
Now live on @CurveFinance!
Soon you can mint a #bitcoin representation on Ethereum that’s exclusively smart contract based.
✅ No bridges
✅ Self custodial
✅ Immutable code
✅ Transparent
𝗲𝗕𝗧𝗖 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗦𝗽𝗼𝘁𝗹𝗶𝗴𝗵𝘁 🔒
Launching a novel DeFi primitive that users can trust demands the highest level of security. eBTC's dedication to creating a secure, decentralized protocol shows through its meticulous security measures and planning.
See how👇
Yield bearing assets are changing the game‼️
On Episode 003 of The Stake Out, @omgcorn from @yearnfi speaks to DeFi's unique value proposition as a potential onramp for new users and TradFi.
#Bitcoin#Ethereum$BTC$ETH
Does Decentralization really matter⁉️
On Episode 001 of The Stake Out, @langerstwit from
@Rocket_Pool shares his take where decentralization matters the most.
Listen to the full episode👇
piped.video/watch?v=nVfrcxr8…
When you realize its Get Paid to Borrow #Bitcoin month and you have ETH or WETH collecting dust.
➡️ Deposit ETH & WETH collateral
➡️ Borrow eBTC at no cost
➡️ Get stETH staking rewards + stETH incentives from @LidoFinance
Looking for yield opportunities?
Add liquidity to the eBTC/tBTC pool on @CurveFinance ⤵️
Earn $CRV rewards while being part of the DeFi hub shaping Bitcoin’s future in decentralized finance.
Your assets, your rewards.
BTCfi just got an upgrade.
Introducing the Bitcoin Stability Module:
A new way to mint eBTC directly with Bitcoin-backed assets at a 1:1 ratio.
Here's what it means for you 🧵 ⤵️
Security Matters w/@trust__90
Security matters at all stages in a protocol's life cycle but can be especially critical in early phases of development.
Security from the ground up can be beneficial to a projects architecture and help to minimize potential attack vectors.
Introducing the BALCO led by @BlockAnalitica & @SteakhouseFi !
#Bitcoin Asset Liability Management Council.
As we prepare to go live it’s critical to have a detailed peg management and monetary policy strategy to ensure stability at launch & as it scales.
Dig into the plan
We’re excited to publish a $eBTC launch planning and monetary policy document, authored jointly with @SteakhouseFi and @BadgerDAO contributors!
The document covers key details for the upcoming launch including initial parameters, liquidity strategy, and risk management. ⬇️
Will institutional capital launch the next bull⁉️
On Episode 002 of The Stake Out, @leptokurtic_ from @ethena speaks to ETH staking products providing an on-ramp for net new money to enter the space.
Listen to the full episode👇 piped.video/watch?v=IGECEH5u…
3/ What is eBTC?
eBTC is a collateralized crypto asset soft pegged to the price of Bitcoin and built on the Ethereum network. It is backed exclusively by @LidoFinance stETH and powered by immutable smart contracts with minimized counterparty reliance.
7️⃣ Crowdsourced auditing contest
The goal in this excercise is to get as many eyes as humanly possible on the code from security researchers across all skill and experience levels.
eBTC protocol is working with @code4rena who @BadgerDAO has collaborated with across many protocol launches in the past.
Contest going live soon with public report to follow.
Using the eBTC protocol to go long ETH/BTC with leverage is one of its core use cases.
Let’s see how $eBTC would “Stack Up” against $GMX for capital efficiency.
🟣 $1M starting capital
🟣 5x Leverage
🟣 365 day position
🧵
That's about 10x the marketcap of $CRV.
In a single day.
And people out here genuinely believe that coins like $CRV won't see prior ATH ($6+) again...
You guys have no idea what's coming.
For users looking to borrow #BTC this how we stack up and shine.
Both for using ETH to borrow and hold or opening a long ETH/BTC position.
🧵 going into the details
Security Matters🟣
The first formal eBTC Smart Contract Audit Report conducted by @trust__90 has been posted to the eBTC Docs.
Read➡️docs.ebtc.finance/ebtc/secur…
In case you missed it‼️
Part 2 of the #eBTC Builder Series - @sajrajdev
looks at how top protocols handle liquidations and bad debt while sharing how the @Risk_DAO assessment helped to shape and validate the model for #eBTC.
Read more 👇
badgerdao.medium.com/ebtc-bu…
Next up in the EBTC Builder Series - Liquidations and Bad Debt Handling. @sajrajdev looks at how top protocols manage this process while digging into how the recent @Risk_DAO assessment was used to help shape and validate the model for EBTC.
badgerdao.medium.com/ebtc-bu…
1/ 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗛𝗮𝗹𝘃𝗶𝗻𝗴 𝗮𝗻𝗱 𝗘𝗧𝗛𝗕𝗧𝗖
The halving is a significant event for #Bitcoin, reducing the reward for mining blocks by half. With the next halving just days away, let’s see how this event has historically impacted the $ETHBTC ratio.🧵👇
A way to kick off the week!
Another round of $CRV and $BADGER incentives has been deployed on @CurveFinance
Deposit on the eBTC/ tBTC pool to unlock these rewards ⤵️
Must listen‼️
The first episode of The Stake Out takes on the Great #ETH Staking Debate, discussing whether protocols should self limit or not, how much decentralization really matters, the potential for re-staking and more.
Take a listen 👇
piped.video/watch?v=nVfrcxr8…
eBTC dapp looking 🔥
Cool feature. Based on the loan parameters selected it tells you what % of time you would of been safe from liquidation in the last year.
The first protocol built exclusively around the ETH/BTC pair.
Trade the #flippening in 1 click + earn ETH staking yield
Purple Paper dropped last week take a read ➡️ github.com/Badger-Finance/eb…
.@BadgerDAO has integrated #Chainlink Price Feeds on @ethereum to support eBTC adoption.
eBTC has also been made CCIP-compatible to enable a future integration to bring eBTC cross-chain in the most secure way. badgerdao.medium.com/badgerd…
5/ Why eBTC?
eBTC is the most decentralized synthetic Bitcoin in DeFi and allows anyone to borrow BTC at no cost. By using reward-generating stETH as collateral, eBTC provides the most transparent, secure, and capital-efficient method for borrowing BTC.
1/🚨 Get Paid to Borrow Bitcoin - Round 2 🚨
Missed the first round of juicy incentives?!
11 more stETH have been allocated from our frens at @LidoFinance for users who borrow eBTC with ETH or WETH now through May 24th.
eBTC - The #Bitcoin that keeps on giving 🤑
Officially announcing the eBTC protocol @code4rena contest in collaboration with @certora on Oct.24th!
🟣 $149,725 pot
🟣 21 day duration
Code opensourced and the contest details dropping soon.
code4rena.com/contests/2023-…
Wardens get ready
1/ 𝗲𝗕𝗧𝗖/𝘄𝗕𝗧𝗖 𝗜𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗶𝘇𝗲𝗱 𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆 𝗣𝗼𝗼𝗹 🤑
In collaboration with @merkl_xyz we're launching an eBTC/wBTC Incentivized Liquidity Pool on Uniswap V3, powered by @BadgerDAO$BADGER tokens.
Get ready to boost your #Bitcoin yield in DeFi! 👇
$CRV is up 25% in the last month.
Here's how you can stack it up:
Add liquidity to the eBTC/tBTC pool on @CurveFinance & earn CRV rewards.
Simple as that! 🎯