dlcBTC at Chainlink SmartCon: Unlocking Bitcoin Yield with Garden Finance and CurveLend
Hey there, Bitcoin enthusiasts! Ready to put your BTC to work? Let's dive into the exciting developments unveiled at Chainlink SmartCon, where dlcBTC, Garden Finance, and CurveLend joined forces to bring you a game-changing yield strategy.
dlcBTC and Chainlink: Enabling Bitcoin Liquidity Flow in DeFi
dlcBTC's integration with Chainlink's Proof of Reserve (PoR) and Cross-Chain Interoperability Protocol (CCIP) creates a secure bridge between Bitcoin and DeFi. Chainlink's PoR ensures real-time 1:1 backing of dlcBTC with Bitcoin, providing unprecedented transparency. CCIP enables seamless cross-chain transfers, allowing dlcBTC to be utilized across multiple networks.
At SmartCon, dlcBTC announced an expansion of this integration, enabling minting and burning across Ethereum, Arbitrum, and Base networks. This multi-chain presence significantly boosts dlcBTC's liquidity and utility in the DeFi ecosystem. By combining Bitcoin's network strength with Chainlink's advanced oracles, dlcBTC is pioneering a new era of Bitcoin-DeFi interoperability, offering users enhanced security and access to diverse DeFi opportunities while maintaining Bitcoin exposure.
Garden Finance and CurveLend: Your Bitcoin Yield Powerhouses
Garden Finance: The fastest bitcoin bridge enabling native BTC to dlcBTC under 10 minutes, it’s only getting faster with act 2 incoming!
CurveLend: Offers innovative lending solutions with its soft-liquidation mechanism, making borrowing and lending more user-friendly.
Step-by-Step Guide to double-digit Real Yield + 5x dlcBTC Points
1. Convert BTC to dlcBTC with Garden Finance
a. Connect your wallet to garden.finance
b. Configure your swap: BTC to dlcBTC Arbitrum
c. Send your Bitcoin to the provided address
d. Wait for confirmations and claim your dlcBTC
Visit docs.garden.finance for a step-by-step guide.
2. Leverage your dlcBTC on CurveLend
a. Connect your wallet to CurveLend on Arbitrum
b. Navigate to the dlcBTC market
c. Deposit dlcBTC as collateral
d. Choose your leverage (up to 10x)
3. crvUSD strategies to maximize yields
Now that you have crvUSD borrowed against your dlcBTC here are some top crvUSD yield opportunities sourced from DeFi Llama
You might consider bridging crvUSD from Arbitrum to Ethereum to access Ethereum yield ✨
Remember, DeFi markets can be volatile. Always do your own research, understand the risks involved, and consider factors beyond just the APY, such as the platform's security, track record, and any lockup periods.
4. Earn and monitor
Start earning yield on your leveraged position
Keep an eye on your position's health factor
Enjoy 5x dlcBTC Points for participating!
Risk Considerations
Liquidation risk: Price drops may require adding more collateral or face liquidation.
Interest rate fluctuations: Borrowing rates can change, affecting overall returns.
Market volatility: Bitcoin's price swings can impact your position's health.
Conclusion: Your Bitcoin, Working Harder
The collaboration between dlcBTC, Garden Finance, and CurveLend opens up new horizons for Bitcoin holders in DeFi. This strategy is just the beginning - stay tuned for more exciting developments as we continue to bridge the gap between Bitcoin and the broader DeFi ecosystem.
Ready to take your Bitcoin game to the next level? Give this yield strategy a try and let us know how it works for you!
About dlcBTC
As a decentralized wrapped Bitcoin, dlcBTC leverages Discreet Log Contracts (DLCs) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge to cross-chain DeFi, backed by the security of the Bitcoin network. dlcBTC unlocks yield for your Bitcoin in DeFi with the benefit of lower fees and merchant self-custody, empowering users to put their Bitcoin to work.
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