The inCredbull Vault is live on Bitlayer with step by step guide!
Credbull has launched its inCredbull Vault for early contributors to benefit from the Credbull Airdrop while also earning a fixed yield!
In preparation for the highly anticipated Credbull token launch, you can now participate in the inCredbull Vault on Bitlayer. This gives you early access to the first licensed on-chain private credit fund offering high fixed yield and additional incentives such as an exclusive NFT, as well as eligibility for the Credbull airdrop.
Quickstart
- Visit https://www.incredbull.io/bitlayer and connect your wallet to start lending
- Deposit USDC or USDT into inCredbull Vault on Bitlayer
- Earn +8% APY on USDC/T with 6 months lock OR 10% APY on USDC/T with 12 months lock (4% Effective interest, paid in USDC/T)
- Earn $CBL tokens airdrop
- Earn partner token airdrops ($BTR Bitlayer tokens)
- Get a free ‘Credbull x Bitlayer’ NFT when you lend above for lending above $1,000 USDC/USDT
The higher the deposit, the greater the airdrop allocation!
The more you refer, the greater the airdrop allocation!
Here’s a step-by-step guide on how to participate in the vault
How to Supply USDT or USDC to the inCredbull vault
Go to the inCredbull page on Bitlayer and click on “connect wallet”
Once connected, you have access to the vaults. Pick between 8% APY (6-month term) or 10% APY (12-month term) or you can deposit USDT/C to both vaults. The minimum deposit is $50, however the higher the lending deposit, the greater the airdrop rewards!
Once your deposit is successful, you will be able to access your “referral link” and invite friends to join! The more friends you refer, the more airdrop rewards you will receive.
Once the vault is ready for withdrawal, the corresponding flow will be enabled and you can follow the same sequence to withdraw your deposit.
Need to bridge BTC to Bitlayer? Here’s how
Bridge BTC
Gas fees on Bitlayer are paid with BTC. Therefore, you’ll need to bridge your Bitcoin to Bitlayer. If you already have BTC, you can skip to the next step.
- To bridge BTC refer to the official bridging tutorial by Bitlayer: Bitlayer Official Bridge Cross-Chain (Cross-In) Tutorial (OKX Wallet).
- If you need BTC as a gas fee on Bitlayer quickly, you can refer to this guide from Bitlayer: Bitlayer’s Quickest Gas Fee Acquisition Guide.
Bridge Stables USDC/T
In addition to the official bridge, you also have the option to use the third-party bridge such as Owlto Finance, Orbiter Finance, and Meson for your operations.
Let’s take Owlto Finance for example:
- Visit Owlto finance
- Connect your wallet
- Swap USDC/T from any chain of your choice to Bitlayer
- Sign the transaction and you are done.
FAQs
When will I receive airdrops?
You will receive both $CBL and $BTR airdrops at the TGE of both projects. Airdrops unlock on TGE.
How many airdrops will I receive?
Significant token allocations have been set aside for inCredbull Vault x Bitlayer campaign and will be distributed accordingly. The more you lend and refer, the more airdrops you will be allocated.
When and how will I get my stablecoins back?
You will get your stables back, with interest paid upon the end of your lending period (depending on the vaults you’ve chosen to deposit into) — 6 or 12 months. Refer to the landing page link to redeem your stables when the loan tenure is up. More instructions on stablecoin redemption will be available — a guide will be provided. Follow our socials for the latest news.
Are your code and vaults safe?
Our code has been audited by CertiK and the audit report can be found here https://skynet.certik.com/projects/credbull
About Credbull
Founded by a strong team of DeFi and TradFi veterans, Credbull recently launched DeFi’s first licensed on-chain private credit fund, offering unprecedented, chain-agnostic access to real-world assets. The decentralized fund structure offers real-time transparency, risk management, and all off-chain capital allocation. In addition, Credbull provides other diversified solutions such as Credbull Pro and inCredbull Earn, helping institutional asset managers, crypto platforms and DAO treasuries enter the rapidly evolving RWA space.
X (Twitter) | Discord | Telegram | Website
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 solution based on the BitVM paradigm. Bitlayer’s core objective is to address the trade-off between security (trustlessness) and Turing completeness in BTC layer 2 through cryptographic innovations and blockchain protocol engineering.
Bitlayer is committed to becoming the computation layer for Bitcoin, aiming to introduce ultra-scalability to Bitcoin while inheriting its security, providing users with a high-throughput, low-cost transaction experience.
Website | Twitter | Discord | Medium | Github | Youtube
DISCLAIMER
Investing in the Credbull On-Chain Private Credit Fund 1 involves inherent risks, with past performance not indicative of future results. The Fund, registered in the Bahamas and subject to its regulatory framework, operates on-chain to provide transparency and accessibility to lenders. However, prospective lenders should be aware of the decentralised nature of the Fund, which entails unique risks associated with DeFi, such as smart contract vulnerabilities and regulatory uncertainties. With lock-up periods and minimum investment requirements in place, lenders are encouraged to consult with financial advisors or legal counsel before participating, ensuring alignment with their investment objectives and risk tolerance.
