UniRouter officially Launches LSD Project, Boosts uBTC with B² Network
UniRouter is excited to announce the official launch of our Liquid Staking Derivatives (LSD) project, in collaboration with B² Network. This partnership is aimed at enhancing the utility and rewards for uBTC holders within the cryptocurrency ecosystem. This joint effort will introduce new mechanisms that benefit our users by integrating seamless reward systems and expanding the use cases of uBTC. Here’s what you need to know:
What is uBTC?
$uBTC is a Liquid Staking Derivative (LSD) token, which represents staked Bitcoin in a 1:1 ratio, allowing holders to participate actively in the DeFi ecosystem while their underlying assets generate staking rewards. This concept was detailed in our previous article, The Power of Liquid Staking and Restaking, where we discussed how liquid staking solutions like these are reshaping investor interactions with Proof-of-Stake blockchains.
To get uBTC on B² Network, feel free to follow this tutorial for existing B² native stakers or new users.
Introducing $B2 Reward Mechanism
The collaboration between UniRouter and B² Network introduces a new $B2 reward system that is intricately designed to benefit our stakers:
- Daily Balance Snapshot: Every day, we will take a snapshot of users’ $uBTC balances. This ensures that rewards from the Hive protocol are proportional to the amount of $uBTC staked.
- Claimable Rewards: Once $B2 rewards from Hive protocol become claimable, UniRouter will support the claiming process directly. This adds an extra layer of convenience for our users.
- Flexibility in Staking: $uBTC holders are encouraged to provide liquidity on decentralized exchanges (DEXes) or to deposit into lending protocols. Our snapshots are designed to accommodate these activities, capturing all eligible $uBTC balances even when utilized in different financial services within our supported B² Network ecosystem protocols.
Note: For platforms not yet supported, we welcome community feedback. Please mention them in our community forums, and we will consider integrating them.
U Point Reward System
In addition to financial incentives, we are also introducing a novel U Point reward system:
- Point Accumulation: For every uBTC a user holds, they will accrue 1000 U Points daily.
- Token Redemption: These points will be redeemable for future $URO tokens. We will publish a detailed post soon to explain the redemption mechanism in depth.
This points system not only incentivizes holding uBTC but also ensures active participation within the UniRouter ecosystem.
Expanding uBTC Use Cases
The partnership aims to broaden the spectrum of use cases for uBTC, increasing its utility across the crypto landscape:
- Liquidity Provision: Users can provide liquidity on platforms like Glowswap or use their uBTC to swap for other assets.
- Lending and Collateralization: uBTC can be deposited and used as collateral in various lending protocols, allowing users to leverage their holdings for additional financial opportunities.
- …and stay tuned for more innovative use cases that will continue to enhance the value and utility of uBTC within the crypto ecosystem!
About UniRouter
UniRouter is built to seamlessly bridge Bitcoin and EVM ecosystems, unlocking the full potential of Bitcoin Inscription Assets with High Liquidity & Use Cases.
By offering a secure and reliable cross-chain solution, UniRouter will act as the revolutionary way that assets are transferred and data communicated across various Blockchain platforms while improving the current inscription assets indexer network.
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