BTC Proxy’s Bitcoin Farming will go Live Today

Stake PRXY to earn Bitcoin. Mine the BTC King! Limited space in the pools, so first come first served.

Good day Proxy users,

Interested in earning staking rewards in the crypto king, BTC? The newest and only institutional-grade wrapped Bitcoin protocol on the block, BTC Proxy, has the farms for you. These farms are kindly co-sponsored by the Alphabit Digital Currency Fund.

First let’s get one thing straight. The BTC Proxy protocol plays with two tokens. $BTCpx and $PRXY. Wat? So 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.

https://app.prxy.fi/ will be the user interface for all the farms. There will be three Bitcoin farming campaigns each lasting 60 days. Here’s exactly how staking PRXY for Bitcoin will work:

Bitcoin Farming Details:

Important Reward Program Notes:

1. The first vault will reach full capacity when APY falls to 12%. After this the pool will be closed to new stakers. Be ready!
2. 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.
3. Rewards and APY will be calculated daily.
4. 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. Who doesn’t like mining digital gold? But be careful because the pools will have limited access and work on a first come first served basis.

Thanks again to Alphabit for sponsoring these farms. Be ready for the first pool opening up today (August 11th 2pm UTC time). Keep an eye wrapped on PRXY socials so you don’t miss out on the chance to mine the King!

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 #FarmBitcoin.

📰 INFO

https://medium.com/btc-proxy/btc-proxys-bitcoin-farming-live-11th-august-2pm-utc-time-fd5b2cbc5d7f