Convex bBTC
Last updated
Last updated
Unlike a traditional liquidity pool, you can participate by depositing only 1 of 4 assets rather than supplying equal balances of each.
1. You must first hold any amount of renBTC, wBTC, sBTC or bBTC, in your wallet before beginning the process. wBTC can be acquired from any reputable centralized exchange such as Coinbase or Kraken and swapped for on any decentralized exchange like Sushiswap or Uniswap. renBTC, sBTC and bBTC can be swapped for in Curve. And bBTC can be converted by withdrawing native BTC via Ethereum in Binance. Alternatively, both wBTC and renBTC can be converted from native Bitcoin using the Badger Bridge.
2. Once you have acquired the necessary assets, you will head over to Curve to deposit your asset of choice into their bBTC pool. PLEASE NOTE: You must select deposit NOT deposit & stake in gauge in order to receive the necessary LP token needed in the Badger App.
3. After depositing into the Curve pool, you will receive an LP token that represents the value of your deposit in that pool. This token is called bBTC/sbtcCRV and will not appear in your wallet unless the token has been added but that does not mean it isn't there. It will appear visible in the Badger App during the next step.
4. You will then head over to the Badger App, select the bBTC vault on the Sett Vault page and proceed to deposit your bBTC/sbtcCRV LP token to receive rewards.
wBTC: 0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.
renBTC: 0xEB4C2781e4ebA804CE9a9803C67d0893436bB27D.
sBTC: 0xfe18be6b3bd88a2d2a7f928d00292e7a9963cfc6.
bBTC: 0x9be89d2a4cd102d8fecc6bf9da793be995c22541.
CRV-LP: 0x410e3e86ef427e30b9235497143881f717d93c2a.
bCRV-LP: 0x2e1f902b9067b5fdd7af29ef05d4ff6212588388.
Withdrawal fee: 0.1%.
Performance fee: 20%.
