Wrapped BTC holders can now secure a 6% annual percentage yield (APY) on the Base layer-2 network through the Umoja decentralized finance (DeFi) protocol. Umoja achieves this yield by utilizing a variety of trading strategies, including covered calls and arbitrage. The protocol supports Yield Vault Tokens (YVTs) collateralized by cryptocurrencies, with yBTC being one such token minted when users deposit Coinbase wrapped BTC (cbBTC). It’s important to note that cbBTC is an ERC20 token backed 1:1 by bitcoin held at Coinbase, not bitcoin itself. As bitcoin’s value dropped from over $100K to a low of $74.8K on April 7, the demand for yield strategies to offset spot value losses may increase. Meanwhile, Japanese firm Metaplanet has begun earning a yield on its bitcoin by purchasing spot assets and put options, then selling the premium as prices decline.
DFINITY
@dfinity
·
Apr 1 Full custody Bitcoin DeFi is here.Our ETHDenver spotlight with Neil Fitzhugh(
@fitzyOG
) shares
@tap_protocol
‘s groundbreaking approach.Here’s what they’re innovating:
L1 co-processing for direct Bitcoin UTXO manipulation
No bridges or custody loss for Bitcoin DeFi
Aaron
@AaronBremser_
·
Feb 5 Bitcoin DeFi built on $ICP could be one of the biggest longterm cooks in CryptoIn this video I talk about why, and how projects like http://odin.fun and
@tap_protocol
are utilizing the ICP chain fusion to build out BTC DeFiAnd how
@kongswap
will get into BTC DeFi
Crypto City
@CryptoCity53
·
23h Babylon is rewriting the rules for BitcoinFor the first time ever, BTC can be staked natively — without losing custody.
No wrapping
No bridges
No trust requiredAlready crushing it:
52K BTC pledged
DeFi Raccoons
@DeFi_Raccoons
·
23h The next BTCFi bluechip is here — Babylon
Trustless BTC staking
100% custody-retained
No bridges or wrapping risks
Fully on-chain yield from securing PoS chainsAlready trusted by:
Binance Earn
OKX Wallet
Bitget
Crypto Whales Club | AMA + Space
@CryptoWhalesAMA
·
22h The Bitcoin DeFi revolution is here — and Babylon is leading it.Introducing native BTC staking with:
No custodians
No wrapping
No bridgesAlready dominating:
$4.3B TVL
52,000 BTC pledged
CipherSwap
@CipherSwap
·
26m umoja drops new cbBTC yield tool on Base offering 6% APY thru CEX/DEX strats while BTC DUMPS -25% from ATH to $74.8k. bitcoin maxis weep as wrapped tokens save portfolios from bleeding out. DeFi wins again despite maxi cope
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
