Introducing ACoconut v2
You won’t want to miss this if you’re a BTC holder!
tl:dr
- ACoconut v2 on BSC Beta testing begins on 17:00 3/26/2021 (UTC+8)
- Beta testing participants will be eligible for $AC Airdrop
- BTC+ on BSC supports BTC assets from: Venus, Autofarm, ACryptoS and ForTube
- Mint and deposit vBTC+, autoBTC+, acsBTCB+, fBTCB+ to earn global interests and $AC
We are thrilled to introduce the launch of ACoconut v2 Beta on BSC!
The launch of ACoocnut v2 also marks the inauguration of BTC+. BTC+ is a positively rebasing synthetic BTC designed to provide global interests, stable peg and protocol versatility for BTC holders.
With the addition of BTC+, the ACoconut protocol suite is the first BTC DeFi solution that empowers BTC holders to realize cross-chain yield opportunities.
New Features in ACoconut v2
- Single+ token, BTC+ and cross-chain BTC yield aggregator
- Compatible with BSC, Ethereum and multiple networks
- $AC Tokenomics v2 (details will be released via a separate post)
- New DApp UI
What is the ACoconut Protocol Suite?
ACoconut v2 consists of two open protocols: BTC+ and acBTC. The protocol suite aims to enable frictionless movement of BTC liquidity between decentralized systems.
BTC+
BTC+ is a positively rebasing synthetic BTC composed of BTC-yield tokens. The positive rebase mechanism of BTC+ provides holders with a number of benefits currently unavailable to BTC-yield token holders, namely:
- Global interests from underlying BTC-yield tokens
- Stable peg against BTC
- Composability with DeFi protocols
acBTC
acBTC is a synthetic BTC backed by a basket of pegged BTC assets. The acBTC composite basket serves as a swap engine to facilitate the exchange of underlying pegged BTC constituents. acBTC holders benefit from the powerful swap engine, namely:
- Affordable cross-chain transfer of BTC liquidity at scale
- Mitigates single point of failure
- Stable peg against BTC
As BTC liquidity continues to enter Ethereum, we foresee a growing number of use cases for frictionless transfer of BTC liquidity between Ethereum and next generation Layer 1 networks. Furthermore, demand for consistent returns on BTC will be highly sought after by BTC holders.
ACoconut v2 is a truly innovative BTC DeFi solution compatible with multiple networks. It is built to enable efficient cross-chain movement at scale; empowering BTC holders to effectively put Bitcoin to work.
Beta Testing Details
ACoconut v2 is a significant milestone for the BTC DeFi community. With months of research, design and implementation, we would like to invite all BTC holders, DeFi maximalists, yield farmers, traders and BSC community advocates to participate in Beta testing!
Full Beta Testing Guide can be accessed here.
Incentives & Requirements
Beta testing participants will be eligible to receive $AC Airdrop upon successful completion of testing requirements:
- Mint Single+ tokens with any of the following interest bearing BTC tokens
- vBTC → vBTC+
- autoBTC → autoBTC+
- acsBTCB → acsBTCB+
- fBTCB → fBTCB+
2. You can also mint Single+ tokens with BTCB directly
3. Deposit Single+ tokens to the corresponding Single+ gauge to earn mock $AC
4. Claim and retain mock $AC in your wallet
Please note that you will be earning mock $AC during the Beta testing period. Maintain mock $AC in your wallet balance to qualify for $AC airdrop.
Prerequisites
Beta Testing Period: Begins on 17:00 3/26/2021 (UTC+8)
Access: https://bsc-beta.acoconut.fi/
Supported Network: Binance Smart Chain
Supported Wallet: MetaMask, WalletConnect
Please ensure your wallet is equipped with BNB, BTCB or one of the following interest bearing BTC tokens: vBTC, autoBTC, acsBTCB, fBTCB.
Resources
About ACoconut
ACoconut is a BTC DeFi protocol suite designed to enable frictionless movement of BTC liquidity between decentralized systems. The ACoconut protocol suite consists of BTC+ and acBTC, powered by NUTS Finance.
About NUTS Finance
NUTS Finance is a blockchain development DAO focuses on building secure, composable and open source technology to empower financial applications on the blockchain. Our team is composed of experienced developers, financiers and serial entrepreneurs.
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