Institutional Grade Bitcoin Bridge. Unlocking Bitcoin for DeFi on Matic L2 with low costs, high speeds and PRXY token governance.
60 ETH priced at $3500
Only 1% of Bitcoin is on DeFi, we need better Bitcoin Bridges to get the other 99% across. BTCpx solves the problems with WBTC and RenBTC with the ProxyRelay solution. BTC Proxy has a user interface, insured custodian, Matic L2 gas efficiency and is governed by the PRXY token.
Institutions demand an insured custodian (which RenBTC lacks) and BTC Proxy uses HEX_Trust. Institutions also need a slick user interface (which WBTC lacks) without the slippage and counterparty risks of CEXes.
Confirmation of Bitcoin blocks onto an Ethereum smart contract using a Matic side chain means low minting and redemption fees with fast confirmations in under 30 mins.
Transactions are all transparent onchain and verifiable with the BTC Proxy team never touching any funds. No KYC is needed. Uniswap will have LP pools with WBTC:BTCpx and RenBTC:BTCpx initially where users can Stake Bitcoin and earn PRXY token rewards.
Use of Token: The PRXY token will be utilized for:
- Voting for future development of protocol
- Staking for Bitcoin Farming from the Minting Fees of 0.1% and Redemption Fees of 0.3% at https://btcpx.io
- Liquidity Mining incentive for BTCpx pools
- Institutional Bitcoin Bridge minting and redeeming BTCpx on MATIC L2 to unlock Bitcoin on DeFi
- Institutionally qualified custody to insure Bitcoin Deposits
- No Slippage or ill effects from low volume
- No Counterparty Risk
- Low Gas Fees - see the benchmark test
Project coming soon
What is allocation mining?
Allocation mining is the action of staking $LPOOL to receive a part of the allocation offered by projects on the Launchpool platform.
What is AMR - Allocation Mining Reward
This is a measure akin to APY. It is designed to help participants understand the rate which they are mining allocation over the Allocation Mining Event.
What is an AME - Allocation Mining Event
An Allocation Mining Event (AME) is a staking pool in which you lock up your $LPOOL until the end of the AME (normally 4 or 5 days in length). Staking your $LPOOL in the AME gives you the option to purchase the allocation you mined - using ETH to make the investment - at the end of the AME countdown. After the AME your $LPOOL is returned, regardless of whether or not you take the allocation mined.Learn more about Launchpool