BTCLP (BTC Liquidity Provider)
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What is BTC Staking
BTC staking is a product from Waves.Exchange and the first DeFi interchain product on the Waves blockchain. Funds are accumulated on the Waves blockchain, which are then proxied into DeFi products of the Ethereum ecosystem, including Curve, Uniswap, etc.
When staking BTC, you receive the BTCLP assets in return. BTCLP is the assurance of your funds staked to the smart contract. The BTCLP price is formed from the ratio of the amount of BTC in staking to the amount of BTCLP assets in circulation. Income in BTC is accrued daily and added to the staking pool, while BTCLP is not issued.
At any time, you can unstake BTC, i.e. exchange your BTCLP assets to BTC assets at a new, increased rate. The difference in BTCLP price when you start staking and exit staking will be your income. This difference can only be positive. You can find out more in the FAQ.
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