Centralized, but this is kind of where BTC on Ethereum seems to be headed to anyway (as well as so much more assets to come).
BUSD, USDC and USDT are not that different.
Let’s tokenize!
Exactly how much veCRV voting power would be 5% quorum in this case?
32.7M veCRV at creation so 1.63M is quorum.
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I’m in favor. sBTC is the better choice as it will provide more currency trading pairs and create a common denominator for Curve BTC meta pools. More BTC meta pools will entice more deposits into the sBTC pool, so the current fact that it’s less liquid than ren isn’t a concern IMO.
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There are only 100 BBTC now and the project is still too early. https://etherscan.io/token/0x9be89d2a4cd102d8fecc6bf9da793be995c22541#balances. So it’s better wating when it becomes stable. I don’t think who has interests in this erc20 token now. By the way, Binance’s users are mainly for trading and there’s nothing to do with BBTC project. So talking about user bases has no meaning. The user bases are not BBTC users.
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I’m sure they can mint more. Things like earning rewards through Curve LP shares and having liquidity to other BTC flavors through Curve can really boost demand and therefore supply for BBTC.
I’m pretty sure there will be an option to withdraw Bitcoin as BBTC on Ethereum from Binance so it’ll provide a nice bridge to the biggest cex.
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Curve has no duty for boosting users’ deman for BBTC. This argument is meaningless. Any coin wanted to be listed on Curve can use the same reason.
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So what? My doubt is still who will use it? Does it mean whenever Binance add some surpports then users will be eager to try? Why not wait for Binance surpport the bridge and see how users react before doing a signal vote?
Agree it has no duty to boost users’ demand for BBTC. It does however have a duty to evaluate whether a current supply of 100 BBTC is a major impediment to a BBTC metapool being successful. Answer, likely no. A BBTC metapool can succeed to earn more fees for vecrv holders despite the current supply being small.
Wait, BBTC, is BTC on the binance chain, that is now moved to Ethereum as ERC token. Did I get that right?
Thanks for the question, Btoken is a series wrapped token, which uses the Binance bridge cross-chain service. for BTC wrapped tokens, BBTC is on Etheruem (ERC20), similar to WBTC. and the BTCB is on the binance chain and the binance smart chain(BEP2, BEP20).
can also check the proof of assets from the link: https://www.binance.org/en/assets-proof
Binance users are not the same as DeFi users? I disagree. All of them are crypto users; the market is still tiny compared to the traditional world; it’s wired to distinguish CeFi and DeFi users in this way.
Absolutely it’s a good idea to provide more options to the users; if they want to move their BTC from binance to curve, why should we stop that?
You totally misunderstand all things. Binance users use Binance for trading not for DeFi. And BBTC has nothing to do with DeFi if no DeFi dapps support it. I am sad seeing people like you post at this forum.
Besides that binance has a large user base, the Binance ecosystem contains almost the most active users in DeFi, Market Makers, tons of arbitrageurs, holders look for a higher APY, those DeFi projects which had listed their tokens on binance, they will potentially have BTC in binance, and might need to transfer BTC ERC-20 to the DeFi world, e.g. Curve.
BBTC it’s a good bridge/cross-chain service to connect CeFi and DeFi protocols, which means that users can quickly use binance.com or simply use binance bridge(decentralize tools) to convert their BTC to BBTC (ERC20), at the same time enjoy service with a high standard of security. It’s a good idea to list BBTC, and to provide a solid option to users.
Not sure if Curve would list all kinds of BTC wrapped tokens (WBTC, RenBTC, imBTC, Binance BTC), we recommend listing more and bring more users and assets into this eco-system.
How to convert BBTC via binance.com:
Binance Token Canal Enables Wrapped BTokens on Ethereum | Binance Support
How to convert BBTC via binance bridge:
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The wrapped BTC (BBTC)can be printed very quickly. After 2 weeks of binance launched BBTC, there is 600 BBTC on-chain. Will have more according to requirement. please check the proof of asset. (https://www.binance.org/en/assets-proof)
Here’s the target list where we are going to add BBTC soon: Uniswap(by this week), Aave(in progress), Curve, Compound, Cream(listed), Fortube(Listed), MakerDao, Balancer, InstaDapp, and more, we will work closely with the community, hopefully, we will see the increase of BBTC in the coming weeks.
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why? you don’t like don’t bbtc, don’t use the pool. why stop the pool from being added?
Two thoughts
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It seems very early for this. I’d like to see this asset have at least a few months of seasoning before going live.
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It also seems like this kind of thing would benefit Binance a lot more than Curve. Perhaps Binance should be incentivizing this pool.
Signal has passed already.
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