How to start earning money by providing liquidity in pools with TBTC
You’ve probably already heard about Defi and liquidity pools. What is it and how to make money using TBTC?
A liquidity pool is a kind of storage where market participants put their assets together to provide a very large supply of liquidity for everyone who wants to exchange this asset. In the traditional financial system, such pools are large banks, they manage the funds of a large number of depositors and can even “print” additional money.
A cryptocurrency liquidity pool is a stock of tokens that are locked in the account of a special smart contract. They are used to ensure trading activity (trading) and are intensively used by decentralized exchanges (DEX).
For providing liquidity in pools, members receive rewards, which allows you to earn passively. One of the first projects that introduced the concept of a liquidity pool was the Bancor project, but the Uniswap project brought great popularity to the concept of a pool.
About TBTC
A month ago, the Keep, Summa and Cross-Chain Group teams launched the tBTC-an ERC-20 token fully backed by BTC and tied to its offer. It allows BTC holders to access the DeFi ecosystem built on Ethereum. Here are its key features:
• Backed — Every TBTC is backed 1:1 with BTC
• Permissionless — No intermediaries — Redeem TBTC for BTC at any time
• Secure — Audited and open-source
• Simple — 3 steps to convert from BTC to TBTC and back
Thus, you can transfer your BTC to TBTC and participate in liquidity pools. It is a safe way to earn money with your Bitcoin.
Which pools using TBTC can you participate in?
Despite the fact that only a month has passed since the release of TBTC, you can already earn money right now by participating in the liquidity reward pools of KEEP partners such as: SushiSwap, Curve, Balancer and Mooniswap. These sites have launched or will soon launch liquidity pools that offer the opportunity to earn money by providing liquidity for tBTC.
Let’s look at the process of providing liquidity using the example of the WBTC-TBTC pool from Sushiswap:
1.Let’s go to the site;
2.Connect our wallet through Metamask;
3.Click + liquidity;
4.Select the pair TBTC-WBTC, select the currency, enter the amount and click add;
5.Done! Now you will passively receive interest on commissions!
With TBTC, you can not only earn commissions in liquidity pools, but also farm completely new tokens! Last week, Keep’s partners at Harvest added the ability to farm the FARM token for providing liquidity to TBTC.
Summing up the above, we can conclude that despite the fact that the TBTC was launched only about a month ago, professional market participants have already recognized it and appreciated it. TBTC is used in leading liquidity pool platforms. And this is just the beginning! TBTC allows you to earn passively and most importantly safely!
For more information please visit:
Official site: https://keep.network/
Official Discord: https://discord.gg/CzfZx9
TBTC site: https://tbtc.network/
Created by kudo94#3025
