THE TRANSFORMATIVE POWER OF BTC PROXY
The growth of decentralized finance in the last year has spelt success in a financial world that was once ruled by overlords and Kings. However, even during this growth, there are lapses left unchecked, gaps that, if not filled, and mistakes that, if not corrected, will leave the DeFi space more culpable for centralization than centralized systems.
What I mean is that the world of Decentralized Finance is seemingly controlled by a few networks, no thanks to the lack of interoperability in blockchain technology.
But such drawbacks are in the past!
The call for a more democratic and inclusive system that allows many investors to participate is here. It is BTC PROXY!
Before now, when you hear about decentralized Finance, what readily comes to mind is the Ethereum blockchain. In the last couple of years, however, the narrative has changed. Now we have more developers building blockchain networks that allow for decentralized financial operations.
However, the number of cryptocurrencies Bitcoin is still excluded from the haloed party of Decentralized Finance. It seems, some will say, that Bitcoin holders and investors can only use bitcoin as a store of value, and not get the abundance of financial opportunities in the DeFi space.
But not anymore!
With BTC Proxy, bitcoin holders and investors can now partake in the plethora of financially rewarding activities common in DeFi. The staking, farming, lending, etc. BTC proxy was developed for this reason.
WHY BTC PROXY WAS DEVELOPED
For many bitcoin holders and investors, it was frustrating seeing amazing staking and farming opportunities but not being able to participate because the projects were built on the Ethereum blockchain or Matic Polygon. It was like seeing gold pass by you but you’re helpless to do anything with the gold.
Transferring bitcoin value to these Ethereum blockchain-based projects required a third party, many times these third parties are unsafe and unreliable. Plus, for institutions who wanted to transfer BTC values to Ethereum or Matic Polygon based projects, third parties were a no-no.
Another issue with trying to use BTC to participate in DeFi is the high slippage fees. These third-party platforms often charge ridiculously high slippage fees, making it difficult for investors to swap their BTC for these Eth-based tokens.
BTC PROXY IS HERE!
BTC Proxy serves as:
1. A decentralized bridge between BTC and DeFi projects on the Ethereum and Matic Polygon networks.
2. The protocol that brings liquidity to bitcoin; you can stake your BTC, after you’ve used it to mint BTC Proxy native token, BTCpx.
3. The interoperable platform between some cryptocurrencies.
4. A secured BTC lubrication.
FEES GET TO PAY ON BTC PROXY
1. Minting fees: When you want to mint your BTC to BTCpx, you pay some fees.
2. Redemption fees: The fees you pay when you want to redeem your BTCpx to BTC.
3. Custodian and insurance fees
4. Bridge Fees.
OTHER AMAZING FEATURES OF BTC PROXY
· PROXY GOVERNANCE: One of the major issues people had with centralized finance is the type of autocratic power the top dogs have. Democratic leadership, one where everyone’s voice is equal and respected, is lacking a centralized system. But with BTC proxy, the governance system is democratic. When there is a business decision to be made, one that concerns the growth of the platform, investors with BTCpx tokens will vote on whether the issue should stand or be tossed. Makes for a better community. Also, the fees gotten from the approval of any project hosted on the network are shared with investors in the network’s pool.
· GREAT INTERFACE: The user interface is easy to understand, and makes navigating the platform easy for anyone, even people who’re unfamiliar with cryptocurrency.
CONCLUSION: The future of decentralized finance is brilliant. However, with Bitcoin Proxy, the number one cryptocurrency is now in the game, and you can bet your money that this will change the DeFi ecosystem. You should be staking your BTC already. Have you started? What are you waiting for?
Get on, Now!