Apr 26, 2021

4 min read

Launching ACoconut v2 on Ethereum

🧑🏽‍🌾 Maximize returns on your idle BTC yield tokens from Curve, Vesper Finance and Badger!

ACoconut v2 on Ethereum Main Access: https://app.acoconut.fi

tl:dr

ACoconut v2 on Ethereum beta testing begins on 17:00 4/26/2021 (UTC+8);
Earn further yields on idle BTC yield tokens from Curve, Vesper Finance and Badger;
Mint and stake renCrv+, vBTC+, brenCrv+, acBTC+ to earn rebased BTC interests and AC;
Beta testing participants will be eligible for AC Airdrop and more 🤫

The highly anticipated ACoconut v2 on Ethereum is finally here!

We are super excited to resume our Ethereum journey starting with the v2 beta testing campaign.

ACoconut v2 on Ethereum supports BTC yield tokens from Curve, Vesper Finance and Badger.

If you are holding onto renCrv, vWBTC or brenCrv, you can now earn additional yields by putting your idle BTC yield tokens to work!

New Features in ACoconut v2

Single+ token, BTC+ and cross-chain BTC yield aggregator
Compatible with Ethereum and BSC
AC Tokenomics v2
New DApp UI

What is the ACoconut Protocol Suite?

ACoconut v2 consists of two open asset 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. The BSC launch proves to be a hit amongst BTC yield lovers within the BSC community.

After a month of user engagement, product iteration and smart contract security enhancement, we are excited and confident to roll out ACoconut v2 on Ethereum; providing a truly robust BTC DeFi solution for the Ethereum ecosystem.

Incentives & Requirements

Ethereum beta testing participants will be eligible to receive AC upon successful completion of testing requirements:

Mint Single+ tokens with any of the following BTC yield tokens

acBTC → acBTC+
renCrv → renCrv+
brenCrv → brenCrv+
vWBTC → vWBTC+

2. Deposit Single+ tokens to the corresponding Single+ gauge to earn mock AC

3. Claim and retain AC in your wallet

AC earned during beta testing represents mock AC. Mock AC can be converted to AC token at a predetermined rate once beta testing ends.

Prerequisites

Beta Testing Start Date: 17:00 4/26/2021 (UTC+8)

Access: https://beta.acoconut.fi/

Supported Network: Ethereum

Supported Wallet: MetaMask, WalletConnect

Please ensure your wallet is equipped with ETH for transaction gas fees and one of the following BTC yield tokens: acBTC, renCrv, brenCrv, vWBTC.

You can refer to this guide on obtaining BTC yield tokens

Resources

ACoconut v2 on Ethereum Beta Testing Guide
ACoconut: The First Cross-Chain BTC Yield Aggregator
Introducing AC Tokenomics v2
Join Telegram → https://t.me/acbtc_community
Join Discord → https://discord.com/invite/mvANFYe

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.