Are you restaking wBTC right now? | Bitcointalksearch.org

Iamcrypticguy

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Navigating the Crypto world & Holding BGB Along..

Quote from: makishart on April 28, 2024, 02:03:59 AM

Quote from: AltLord on April 26, 2024, 03:31:11 PM

Quote from: AVE5 on April 26, 2024, 12:55:43 AM

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

Adbitco

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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.

aima55

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Quote from: makishart on April 25, 2024, 10:34:54 PM

Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

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.

Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

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.

Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

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.

dimonstration

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Dimon69

Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

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.

leeboy

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

Bushdark

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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.

JeffBrad12

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Quote from: God bless u on April 28, 2024, 02:14:22 AM

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.

God bless u

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Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

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.

makishart

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Quote from: AltLord on April 26, 2024, 03:31:11 PM

Quote from: AVE5 on April 26, 2024, 12:55:43 AM

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.

adaseb

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I wouldn’t do any type of staking with BTC or WBTC with any of these programs or protocols because Bitcoin naturally is POW and doesn’t have a real staking program.

Those are all fake staking and it’ll be fine for a while but eventually there is going to be some bug discovered and you might lose all your funds.

With how high BTC can go naturally, it’s not worth risking it with all these WBTC programs.

poodle63

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Quote from: Tipstar on April 26, 2024, 01:00:49 PM

The problem with staking wbtc or other form of btc and wrapped btc, the interest rate provided are very low. The interest on btc are also low in centralized exchanges. It's more risk to stake the coin and spend on fees than you actually gain form staking. If you have btc on centralized exchange lying around and have no plan to sell it at current prices, it's good to stake them. But if you are to really earn on the market, you could place a grid order which on long run has a better ROI even if the price difference are larger. Just make sure the grid limits exceeds your price expectations.

most of the people that staked their WBTC aren't really in for that APY offered but they just want to accumulate points for future airdrop, for example is bouncebit, you can restake your WBTC, they will give you point that gonna be used to convert for BB token in the future when TGE is held and the coin earned from airdrop through TGE usually amounts to massive return of investment, thats why people are willing to go certain extent to stake their millions of dollars in WBTC, just imagine you can get big share of the point distributed through airdrop because you're among the whales that staked your BTC.
it definitely good additional profit all the while you're waiting for BTC price to somehow increase in the future since halving has passed anyway.
but of course this also have the risk implied by many people above that its not always smooth sailing.
always be sure to calculate the risk before staking your WBTC at the end of the day.

sunsilk

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As much as it is interesting and rewarding to stake wBTC because BTC doesn't have a staking mechanism and we're seeing exchanges offer deposit interest rates from BTC deposits. I don't want to convert my BTC into wBTC because de-pegging is a risk and I don't want to get into it.

In exchanges, they're saying that it's staking BTC for you to earn interest but it's not really staking at all. You're lending them your BTC in the form of deposits and you're sacrificing the ownership of your BTC because you have no keys after you deposit on them.

In return, they're giving you few amount of interest rates that they earn from your BTC just like the banks but the risk is there as well. And that is if a hacking incident happens to them or gives you trouble to withdraw and asks you a lot of verifications with your own money before you take it back.

Phoenixtrader

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Quote from: AltLord on April 26, 2024, 03:31:11 PM

Quote from: AVE5 on April 26, 2024, 12:55:43 AM

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

Haven't really explore bouncebit cos I've been utilizing other options for passive income, didn't even know they are the pionerr native BTC restaking chain(made me looked it up). since there's good sentiment on the project, I'll proceed to checkout the pre market trading you suggested. Hopefully I bid at a decent price.

AltLord

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Quote from: AVE5 on April 26, 2024, 12:55:43 AM

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

Sophokles

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Restaking for bitcoin has become a new narrative in the industry. There are few project that are working with this same concept and many of them have partnership with big VCs. Another bitcoin restaking protocol called babylon also made a partnership with Binance. We already have RWA, AI, DePin that can create the hype about the next altseason and even some of Layer 2 and layer 3 doing pretty well. New concept like bitcoin restaking, Interoperability can also bring new user onboard.

Tipstar

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The problem with staking wbtc or other form of btc and wrapped btc, the interest rate provided are very low. The interest on btc are also low in centralized exchanges. It's more risk to stake the coin and spend on fees than you actually gain form staking. If you have btc on centralized exchange lying around and have no plan to sell it at current prices, it's good to stake them. But if you are to really earn on the market, you could place a grid order which on long run has a better ROI even if the price difference are larger. Just make sure the grid limits exceeds your price expectations.

JeffBrad12

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I've been restaking my ethereum for some time now and there's also many bitcoin restaking platform coming out of nowhere these days definitely interested if you somehow got some bitcoin as an investment instead of just letting it lying around you can just stake it with the restaking protocol it does increase the profit rate of your asset but you should also know that whatever staking mechanism out there there's always risk of contract breach so never put all egg in one basket.
I mean some people are definitely not comfortable putting their hard earned bitcoin at stake with some smart contract that have the potential of getting breached but these days these projects that offer restaking and layer 2 are quite interesting in term of the return that it might yield, there's usually no promise on how much is the return rate but i know from histories that these project always yield good, at the end of the day it depends whether you can tolerate the risks staking your bitcoin.

jrrsparkles

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I am not going to utilize BTC for some useless tokens, wBTC is not real BTC, it promises that it is pegged to BTC but we never know whether it is or not so better not to take any risk with your BTC for returns that don't even worth considering in this volatile range.

If staking is your goal then I would recommend to go with AVAX which gives rewards to become a validator while running their node and also 7.6 APY which is considerably high compared to staking BTC in platforms like Binance which gives around 2.6 APY.

AVE5

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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.

Bureau

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Quote from: R1dwanRz on April 25, 2024, 04:11:50 PM

snip~~

WBTC is not BTC so why will it have a staking mechanism? WBTC is an altcoin created on the Ethereum blockchain and has no resemblance to Bitcoin. Rather than investing money in a copy I would like to keep on holding to my stash and it will give me more returns than staking. There are other good altcoins that give good rewards than the one you are talking about.

Topic: Are you restaking wBTC right now? (Read 270 times)