Introducing BTC Proxy — A Revolutionary Bitcoin Bridge for the Crypto Community, Where you can do More With Your Bitcoin
The BTCProxy is without doubts going to gain a massive amounts of traction considering what they are offering. Imagine a platform where you can earn up to 170% Annual Profit Yield(APR) from your Bitcoin. So, what is BTCProxy? Is It Bitcoin? The answer may actually surprise you.
Since the inception of Bitcoin, the technology has hardly changed, but on the other hand blockchain technology as a whole has transformed greatly. When Satoshi Nakamoto created Bitcoin i am sure he barely had had any idea what blockchain technology would turn out to be. But since he didn’t stay to continue This amazing development, it has turn out to be increasingly difficult to make Bitcoin fit into a world which is run on Ethereum or the Polygon/matic network
But considering the DeFi movement evolution, which ensures that people to use cryptocurrency for traditional financial products, which includes loans and derivatives, making use of the Ethereum blockchain has grown to become a lot popular. But this is where the issue is, there is at the moment no easy way to ones Bitcoins and invest them in this DeFi movement as there is no bridge between Bitcoin and Ethereum or the Polygon/Matic blockchains. BTCProxy solves this problem as it is essentially a form of Bitcoin which exists on the Ethereum and Polygon/Matic blockchain, and can also be made use of for DeFi purposes. It is interesting to know that this way, Bitcoin holders can interact with the Ethereum and Polygon blockchain without requiring to sell their Bitcoin. And not leaving those in the DeFi world behind where they can enjoy the liquidity of Bitcoin while using Ethereum and polygon bridges to run DeFi products.
What is BTC Proxy
BTC Proxy team has developed this revolutionary platform with the aim of providing a more scalable layer-two protocol to decentralize the tokenization of Bitcoin mainly for multinational institutions. Integral to this is the BTCpx which is a Bitcoin bridge using insured multisig third-party custodians to facilitate the unlocking of an otherwise dormant BTC. One interesting fact is the with the Proxy Finance liquidity mining and rebase staking programs BTC holders holders on this exceptional platform can with ease participate in a DeFi 2.0 protocol to earn significantly appreciably yields.
Why BTC Proxy
You may be wondering why there is a need to have a Bitcoin-like asset bridge which can be spent on the Ethereum and the Polygon blockchain, and the answer is basically for earning higher APR and basically for ease of use. Not also forgetting the fact that BTC Proxy has changed Bitcoin’s utility narrative by giving it access to the vastly expanding DeFi landscape in the crypto community today.
Leading the way for Bitcoin liquidity to Ethereum and Polygon network is extremely important to having a resilient and rich ecosystem, the protocol will without doubts help in facilitating this cross-chain transaction with the help of the BTC Proxy smart contract. The liquidity been flexible is the central task of BTC Proxy project, as this allows users to move their BTC to and from Ethereum and Polygon network via the decentralized bridge.
HERE ARE SOME OF THE INTERESTING FEATURES OF THE BTC Proxy PROJECT
- Minting: This enables users create new BTC Proxy tokens. And this is completed in a decentralized form through interaction with a smart contract of the platform.
- REDEMPTION: This allow users to redeem BTCpx tokens for Bitcoin. You need to connect your ETH or Polugon/Matic wallet to the Web3.js interface of the btcpx.io.
- There is also the earning yield: Which allows you to stake BTCpx into liquidity pools to earn rewards at a high percentage at PRXY.FI
- Custody — Insured by a regulated custodian Hex Trust the features of this custodian allows for the safekeeping of funds using mulitsig hot/cold wallets with insurance against Crime, theft and employee dishonesty, this makes the project reliable and holders can be sure that this isn’t a scam platform/
- Proxy Governance: The PRXY token will be used for voting on key business issues surrounding the growth of the Proxy Protocol as well as Bitcoin Farming of the fees generated by the protocol
HOW DO YOU EARN 170% APY
The team has developed the platform in a way that within the DeFi ecosystem, BTCpx can be staked into a program called iBTCpx which is the Interest Bearing BTCpx and this yields $PRXY governance tokens for each block on the platform. $PRXY has been set out to derive its value from the Total Value Locked (TVL) which is gained from Minting, Staking and then Restaking.
Restaking on this amazing platform allows participants to increase their profits when $PRXY rewards is been claimed and staked in the main Compounding Staking Pool.
How Users of the Platform Provide BTC Liquidity to claim PRXY and MATIC rewards:
- Deposit BTC into custody to mint BTCpx (Polygon) Please kindly visit the link here for more enquiry. https://btcpx.btcproxy.io
- Deposit BTCpx into the iBTCpx program to earn PRXY tokens. Please kindly visit the link here for more enquiry. https://app.btcproxy.io/#/programs
- Claim and Stake PRXY rewards into the compounding staking program to earn 170% APY. Please kindly visit the link here for more enquiry. https://app.btcproxy.io/#/stake
Conclusively, BTC Proxy token provides an requisite service to Bitcoin holders who are looking to earn higher returns in the DEFI world. BTC Proxy is filling a technological gap that of Course needed to be bridged in order to get moving the blockchain technology to higher heights. Overall, BTC Proxy is a developing technology, and it will be quite interesting to see how it’s future unravel in the cryptocurrency community, where users can be assured of a better liquidity for their Bitcoin.
For More Enquiries visit the Links Below;
Website: https://btcproxy.io/
Whitepaper: https://docs.btcproxy.io/
Telegram: https://t.me/BTC_Proxy
Twitter: https://twitter.com/BTC_proxy
Medium: https://medium.com/btc-proxy
Discord: https://discord.com/invite/JVHUbREbBU
Bounty0X Username: Brainerdpaul
