Are you restaking wBTC right now?

[makishart]

As far as it's my fund, I'd after having Invested on the bitcoin, I diversifies to farm on well lucracious, populous and a listed token projects where I don't only rean my faith on hypes but reputations.

I may only assume that investing on this your introduced Bouncebit token would me a gamble but yet I'm not in for it until it's listed in the market cap to trending.

I share  your skepticism so I checked it out a little more. And I see it's  been listed on some Cexs  already   https://www.coincarp.com/fa/events/bouncebit-new-listing-on-bitget-pre-market/. All in all,  I would say investing in a new token is a gamble. So its wise risk what you're ready to loose

I take the picture directly from bitget pre market



https://www.bitget.com/pre-market

I think you are misunderstanding it now. It's not investing but it's staking your token to get a new token. Nothing to lose here but it's only coming from the volaitlity of your staking assets. I have been also staking this and i received a lot of points to be eligible for the airdrops.

I used stable token to invest and got free tokens as my return, i will also able to withdraw my stable token too. It seems you never participated in the LRT staking program.

The better for you to take risk rather than only keep your money and wait it to be eaten by the inflation.

This is the better way to earn free token that can be exchanged with some money.

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[God bless u]

Well so, as of now, BTC is at 63K and I know that it'll stop going down at some point, so I was wondering if any of you are restaking wBTC right now?

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

This seems an interesting offer. If you would have elaborated more about the utilisation of wBTC then it would have been more interesting but we can have a look at this staking system.  Actually due to the high price off BTc  staking it it a little difficult for most of the users. So an alternative like this can be really helpful for people who are interested into BTC staking.

The only point that needs to be elaborated is the use case and utilisation of the wBTC. Then automatically the projects like Bounce bits which are related to WBTC will be successful once this staking system will be successful.

[JeffBrad12]

This seems an interesting offer. If you would have elaborated more about the utilisation of wBTC then it would have been more interesting but we can have a look at this staking system.  Actually due to the high price off BTc  staking it it a little difficult for most of the users. So an alternative like this can be really helpful for people who are interested into BTC staking.

The only point that needs to be elaborated is the use case and utilisation of the wBTC. Then automatically the projects like Bounce bits which are related to WBTC will be successful once this staking system will be successful.

WBTC literally just BTC but wrapped as an ERC20 token so that its spendable through smart contract use in a blockchain that has smart contract capability and the value is pegged to real bitcoin held in reserve since usually WBTC issued by the total BTC held in reserve so its essentially just tokenized BTC in other blockchain, usually what interesting is not the WBTC itself but the restaking protocol that allows us to stake our BTC in various platform all in the same time, so basically we just reused the staked BTC in other platform through issuance of LSTs.
what make the yield seem attractive for people is probably the TGE of the native tokens introduced by the restaking platform or the layer 2 that usually getting distributed through airdrop to any stakers out there.
so its just that honestly.

[Bushdark]

Staking Bitcoin can be rewarding for people that have large amounts just just a single Bitcoin or lesser. I have been seeing the staking advantage on some few exchanges and j never knew what we would be gotten in return is wbtc which can be quite interesting for someone that would want to put their Bitcoin into use. It is very important we make sure to understand the process and not to go stake in a way that one will not be able to withdraw it until few weeks.

[leeboy]

Not sure that i can trust my btc to projects like that, too many risks involved for small APY

[dimonstration]

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

First of all it’s not Bitcoin you are restaking but rather just an altcoin substitute for your Bitcoin that you choose to wrap in exchange for the altcoin you are holding. So it’s nit really Bitcoin and you are risking your Bitcoin to the smart contract holding your real Bitcoin.

Why do you need to use Bitcoin if you can just directly use Altcoin for staking and leave your Bitcoin as is investment. This way you can make sure that your Bitcoin safe while earning rewards using altcoins without relying on wrapping your Bitcoin using a smart contract which is not totally safe.

[aima55]

Well so, as of now, BTC is at 63K and I know that it'll stop going down at some point, so I was wondering if any of you are restaking wBTC right now?

It's not even worth to stake Wbtc but i have staked BTCB or Merlin BTC to get Yield + free tokens. This is still worthy caused by we got two benefits at the same time which is also helping us to get some money.

I know that BTC doesn't have a staking mechanism. So there is wrapped bitcoin that makes it easier to stake and etc
I can see some projects like Bouncebit offering a restake for the wBTC, first you deposit wBTC and you get BBTC in return. This BBTC can then be staked to earn rewards, or utilized in a variety of DeFi activities across different networks.
Interestingly, BounceBit also uses a dual-token system with its native token, BB, which plays a role in securing the network and potentially offering additional benefits. The project is relatively new and the token is not listed yet on exchanges.

I have participated in the BB stake. Have you got your points today? I thought that the points have stopped already but it's still running now.
https://i.postimg.cc/PJFkDxt9/bnzdrjhzdj.png

But anyways this is really cool once you start to farm your yield from your BTC. You will feel that's making you reap more benefits from your BTC. So are you actually utilizing the potential of your Bitcoin holdings in this way?

Having l2 bitcoin has been als really helpful for me caused by non sense fees in bitcoin blockchain caused by the high traffic due to the spam transactions by runes and ordinal minters. This give me at least alternative solution to transfer my btc with cheaper fees.

I'm experiencing the same thing when I visit the page, but the points are still adding up. I've heard discussions in the group chat about how stakers might not receive as high a percentage as those who took part in the megadrop. Judging by the current trends, it seems like the launch is going to be big. I've noticed that BB is selling at $1.5 on Bitget's pre-market, which indicates high anticipation for the launch.

[Adbitco]

I would want you to have this in mind that wbtc is not bitcoin and wbtc is more riskier to hold than bitcoin itself, why because wbtc is on bsc or any other wallet that supports erc20 this can decouple as well and you can lose them. Take for example of what happened to Luna, you would understand that both aren't the same.

Currently I don't hold wbtc or even having to stake them on any platform, since it can't be trusted that much though is another way to use it on another chain outside btc chain. Now what most project does is to launch program of staking as well as earning some percentage on their native coin which make it more attractive in a way it could be hard for you to resist their offer but truth be told you can never trust any of this project.

[Iamcrypticguy]

As far as it's my fund, I'd after having Invested on the bitcoin, I diversifies to farm on well lucracious, populous and a listed token projects where I don't only rean my faith on hypes but reputations.

I may only assume that investing on this your introduced Bouncebit token would me a gamble but yet I'm not in for it until it's listed in the market cap to trending.

I share  your skepticism so I checked it out a little more. And I see it's  been listed on some Cexs  already   https://www.coincarp.com/fa/events/bouncebit-new-listing-on-bitget-pre-market/. All in all,  I would say investing in a new token is a gamble. So its wise risk what you're ready to loose

I take the picture directly from bitget pre market



https://www.bitget.com/pre-market

I think you are misunderstanding it now. It's not investing but it's staking your token to get a new token. Nothing to lose here but it's only coming from the volaitlity of your staking assets. I have been also staking this and i received a lot of points to be eligible for the airdrops.

I used stable token to invest and got free tokens as my return, i will also able to withdraw my stable token too. It seems you never participated in the LRT staking program.

The better for you to take risk rather than only keep your money and wait it to be eaten by the inflation.

This is the better way to earn free token that can be exchanged with some money.

Saw this on Google & this explains pre market trading in a jiffy