First BTC and ZEC bridge on BSC
Deployed by Value DeFi; Powered by RenVM.
Key Points:
- First native RenVM integration on Binance Smart Chain (BSC).
- First Zcash stableswap pool: renZEC/ZEC-B.
- Third renBTC stableswap pool on Binance Smart Chain: renBTC/BTCB.
- First renZEC liquidity mining program
Link to Bridge: https://bsc.valuedefi.io/#/ren
Link to Original Article: https://medium.com/valuedefi/value-defi-x-ren-protocol-f6e3d9838b81
Overview
Value DeFi and Ren Protocol will combine their resources to bring BTC and ZEC directly to Binance Smart Chain (BSC). Ren recently added BSC support to RenVM and released RenBridge 2, designed to easily bridge BTC, ZEC, DOGE, etc to other chains. Using this bridge, users can easily convert any amount of native BTC, etc to renBTC BEP-20 and vice versa.
As a result of this partnership, Value DeFi has implemented the first of its kind RenVM bridge on BSC to enable users to earn yield on their Bitcoin holdings swiftly and on the same platform.
Pools
ZCash Stableswap Pool | renZEC <-> ZEC-B
The first ZEC stableswap pool in history is now live on BSC. It allows users to trade renZEC to ZEC-B at very low slippage, along with providing ZEC holders an opportunity to earn yield on their assets with little risk of impermanent loss.
- Trade $renZEC and $ZEC-B here: https://bsc.valuedefi.io/vswap/#/vpeg-swap
- Deposit real $ZEC, $renZEC, or $ZEC-B and earn yield here: https://bsc.valuedefi.io/#/add/0x2b0be1e0d8459111f5d8da74327e533e428deb88
Bitcoin Stableswap Pool | renBTC <-> BTCB
To further bootstrap $BTC on BSC, the Value DeFi team has launched a renBTC <-> BTCB stableswap pool. This has all the attributes needed to jumpstart liquidity within the BSC ecosystem.
- Trade $renBTC and $BTCB here: https://bsc.valuedefi.io/vswap/#/vpeg-swap
- Deposit real $BTC, $renBTC or $BTCB and earn yield here: https://bsc.valuedefi.io/#/add/0xec83f548fd71b3371eab8bbb646263a15df9d4ea
Incentives And Rewards
Those who provide liquidity will earn both trading fees, as well as extra yield in ZEC and BTC during the yield farming campaign.
Our Partnership with Ren
In addition to BTC and ZEC stable pools, Value DeFi and Ren will be exploring native RenVM integration via RenJS, which will allow direct deposits and withdrawals of real BTC and ZEC into the Value DeFI Platform, a first for Binance Smart Chain!
The end product of this partnership is to enable a seamless option for DeFi users to deposit/withdraw BTC, ZEC, directly onto BSC to receive high yield. By using Value DeFi’s tech and products, this process will have very low slippage and minimal fees. Therefore maximizing profits and user accessibility in the process.
How to use the Bridge?
After going to https://bsc.valuedefi.io/#/ren you will be required to sign into your BSC account (we highly recommend Metamask). Here you will be offered 2 options, minting and releasing.
Minting (left):
Enter how much renBTC you wish to create (mint). After confirming the amount and expected fees, simply click the bottom button View BTC Gateway Address. You will be provided an address to send your real BTC. After sending this BTC, you will receive your renBTC.
Releasing (right):
Enter how much renBTC you wish to unwrap (Release). After confirming the amount and expected fees, enter the Bitcoin address where you wish to send your released BTC.
