Thread by @Juzzwashere

We have had $WBTC aka "Wrapped Bitcoin" for some time, we now have a powerful alternative in $BTC.b.
This is a 🧵to explain what $BTC.b is, how to get it, why it's a great alternative to $WBTC & how to earn yield from it.

BTC.b is a token representing BTC that was bridged from the Bitcoin native blockchain (".b") over to another chain, initially only Avalanche. the (".b") standing for an asset bridged from the native network of Bitcoin.

Why BTC.b over WBTC? Whilst both are tokenized versions of BTC, WBTC is controlled by a centralised entity, not ideal. BTC.b has the native asset held up & controlled by a smart contact at a rate of 1:1. BTC.b is less likely to depeg from the native value.

How do you get $BTC.b? You have 2 options.
1. You can buy it through DEX like @traderjoe_xyz here: traderjoexyz.com/trade?inputCur…
2. You can use the Core wallet to bridge your native BTC over. (What is core? here is a medium explaining medium.com/avalancheavax/…)

You have your BTC.b on the #AVAX chain, what can you do with it?
1. #HODL
2. Trade it
3. Add it to liquidity pool & farm fees
4. My favorite option, staking it in a vault, auto compound & grows your position. I use @steakhut_fi
(app.steakhut.finance/vaults/0x185bB…)

There has been announcements today that BTC.b is now an Omnichain Fungible Token (OFT), meaning it will be able to be bridged in the near future quickly to other chains. Check the medium here: tinyurl.com/2jy74fph

If you found this 🧵insightful or helpful, please give it a❤️& RT. If there is something you'd like a thread on drop it in the comments, so I can get one out in the near future! #keepitjuzzy🧃