Bitcoin has been added to Starknet’s staking mechanism.
That means from now on, you can use Bitcoin to help secure and decentralise Starknet (an Ethereum L2).
And when you do, you’ll be rewarded.
The Starknet Foundation is announcing more details about BTCfi and Bitcoin staking shortly.
Stay tuned for updates.
What’s BTCfi?
BTCfi is an incentive program by the Starknet Foundation.
Its goal? Make Starknet the go-to destination for Bitcoin DeFi.
In order to make this reality, the Starknet Foundation has announced that it will distribute STRK tokens in rewards to people who bridge their Bitcoin to Starknet and use it in DeFi.
You can earn BTCfi rewards by:
- Staking Bitcoin
- Lending or borrowing
- Providing liquidity to DEXs
Bitcoin staking, lending, and borrowing are fully integrated into Ready.
How do you stake Bitcoin?
1. Download Ready (iOS & Android) or Ready Wallet (Web & Mobile)
2. Fund your account with WBTC, LBTC, tBTC, or SolvBTC
3. Tap the Bitcoin staking banner and follow the instructions
Staking Bitcoin has never been this simple.
Bitcoin staking is fully integrated into Ready & Ready Wallet. Unstaking takes 7 days.
We will update this article with more information about Bitcoin staking and BTCfi after Starknet and the Starknet Foundation have announced.
