BTC Proxy Bitcoin Farming Will Be Live On 11th August 2021
An institutional-grade layer-2 protocol for bringing Bitcoin to DeFi, BTC Proxy announced that their Bitcoin farming program will kickstart on August 11, 2021.
The BTC Proxy protocol plays with two tokens. $BTCpx and $PRXY. BTCpx is the wrapped Bitcoin that users can use on the Ethereum chain that always keeps 1:1 peg with BTC (like WBTC and renBTC). And PRXY is the BTC Proxy protocol governance token.
BITCOIN FARMING DETAILS:
- PROGRAM ID: 001
- NETWORK: ERC20
- REWARD TYPE: Bitcoin
- REWARD TOKEN: BTCpx
- AMOUNT OF REWARDS: 1.0 BTCpx (split into .30/.30/.40 campaigns)
- STAKED ASSET: PRXY
- CONDITION: Users can begin to earn rewards on start date and stake into contract anytime. Then PRXY are locked until end date
- START DATE: 11th August 2021
- END DATE: 11th October
- CLAIM TOKEN: End Date
Important Reward Program Notes:
- The first vault will reach full capacity when APY falls to 12%. After this the pool will be closed to new stakers.
- The BTC Proxy pools will not be open ended, meaning that the assets will be locked in the pools for the entire duration of the campaign. So during this locked period stakers cannot unstake.
- Rewards and APY will be calculated daily.
- Stakers can claim the rewards on the end date.
PRXY staking rewards will be issued in BTCpx. BTCpx is pegged to Bitcoin 1:1 and can be redeemed for Bitcoin via https://btcpx.io/. BTC Proxy is the first protocol to offer rewards in Bitcoin.
ABOUT BTC Proxy
BTC Proxy is an institutional-grade layer-2 protocol for bringing Bitcoin to DeFi with no centralized exchange risk and no price slippage. BTCpx is an ERC20, and later a BEP20, wrapped bitcoin token that offers insured custody and ensures a 1:1 Bitcoin backing ratio that cannot be affected by volume or liquidity. PRXY is the ERC20 governance token that governs the protocol and can be used to Farm Bitcoin.
RESOURCES
Medium
