Yesterday, the ‘Bitcoin on Ethereum’ coin BTC20 was launched on Uniswap decentralized exchange, and the success of the staking is already evident. According to the latest data on the real-time dashboard of the BTC20 website, 54% of the tokens have been deposited into the smart contract, and the current annual percentage yield is 79.47%. The token is trading at around $0.94 on DEXTools.
The BTC20 team has started a buyback program using the funds raised in the presale, and so far, $70K has been bought. The emission schedule of the token mirrors that of Bitcoin since 2011, where each block production rate is one every 10 minutes, and 50 BTC20 are minted.
Stakers can earn a valuable income stream by having a claim on the staking pool in proportion to the number of coins they have deposited into it. There is no need to set the staking time in advance, and rewards can be claimed when the tokens are withdrawn.
The liquidity on Uniswap V2 and V3 is currently $332K. On V2, 87% of the $153K liquidity is locked for 12 months, while liquidity providers earn 0.3% of the value of each transaction. On V3, the pool fee for liquidity providers is 1%.
The team intends to introduce a ‘buy and stake’ button next week to make the process of buying and staking easier. As inflation slows, the Fed pauses, and the Bitcoin halving approaches, the price of BTC20 is expected to surge. The token has a DEXTools reliability score of 99 out of 99, and there is no blacklist function in the smart contract.
To sum up, BTC20 has a strong foundation for future growth, and now is the perfect time to buy. Visit the BTC20 website for more information on providing liquidity for BTC20 on Uniswap.