Recently, we announced the launch of uniBTC, Bedrock’s universal bitcoin token in partnership with Babylon chain. This token allows holders to earn staking yield through their BTC assets without losing any liquidity, allowing them to participate in other DeFi activities. For Proof-of-Stake (PoS) chains, this increases their security and efficiency by having another large pool of staking capital. We are extremely excited to be at the forefront of this innovation.
If you’d like to be a part of it too, here’s an easy-to-follow step-by-step guide on depositing wBTC, minting your own uniBTC, and earning staking yield on your BTC assets.
How to Mint uniBTC
Step 1: Before getting started, ensure that you have Wrapped Bitcoin (wBTC) to stake, and ETH for gas fees. wBTC can be swapped on Curve or 1inch.
Step 2: Go to https://app.bedrock.technology/uniBTC, and connect your wallet.
Step 3: If this is your first time staking wBTC, click “Approve wBTC” and approve the spending cap for wBTC. It may take a few minutes for the transaction to complete.
Step 4: Input the amount of wBTC you would like to stake and mint uniBTC, then click “Stake”.
Step 5: Review the details, and click “Stake” again to confirm that the details are correct.
Step 6: Click “Confirm” to sign and approve the transaction, and wait for 1–2 minutes for the transaction to be processed.
Step 7: Once the transaction is confirmed, click “OK”.
Step 8: You can now see the amount of uniBTC you have in your wallet on the Bedrock platform. To be able to see your uniBTC balance and transactions in your Web3 wallet, click the “+” button next to Staked Amount to add the uniBTC token into your wallet.
By following these simple steps, you can begin earning staking yield on your BTC holdings and contribute to the security of PoS chains. The process of staking wBTC and minting uniBTC is straightforward and can be completed within minutes, allowing you to make the most of your cryptocurrency investments. Start staking today and unlock the potential of decentralized finance.
Conclusion
With the rapid growth of decentralized finance and the increasing adoption of PoS chains, the future of bitcoin staking looks incredibly promising. By actively participating in the staking process, not only can you earn passive income on your BTC holdings, but you also contribute to the security and stability of the entire ecosystem. As more individuals and institutions recognize the potential of staking, we can expect even greater rewards and opportunities in the world of decentralized finance. So, seize the moment, start staking today, and be part of the exciting future of bitcoin staking.
