How to mint oBTC on Obelisk

Introducing Obelisk: Unlocking Bitcoin's DeFi Potential

Obelisk is dedicated to transforming Bitcoin into a dynamic financial tool by seamlessly integrating it with Decentralized Finance (DeFi). We're establishing a universal standard for Bitcoin, secured by key players in the Bitcoin ecosystem. Our goal is to enable yield-bearing Bitcoin to move across chains without fragmenting liquidity, making it a major catalyst for new capital inflow into DeFi.

Our Flagship Product: oBTC

Convert BTC into oBTC on EVM to unleash Bitcoin's DeFi potential:

• Earn Yield: Utilize various yield pools to earn returns from Bitcoin Layer1.

• DeFi Interoperability: Hold Bitcoin as a store of value while simultaneously earning, staking, trading, and engaging with DeFi at scale.

How to mint oBTC on Obelisk

1. Deposit BTC:

   • Go to the "Deposit" tab on the Obelisk web frontend.

   • Select "BTC (Bitcoin L1)" from the available options.

   • Enter the amount of BTC you wish to deposit.

   • Click the "Deposit" button to initiate the deposit process.
2. Monitor the Deposit Status:

   • Navigate to the "Deposit" tab to view the deposit record.

   • The deposit will initially have a "Pending" status, indicating that the transaction is being processed.

3. Mint oBTC:

   • Once the deposit is complete and the status changes to "Mintable", you can proceed to the "Mint" tab.

   • In the "Mint" section, you will see the claimable amount of oBTC (0 oBTC) corresponding to your BTC deposit.

   • Click the "Claim" button to mint the oBTC.
4. Verify the Minted oBTC:

   • After minting, you can check the "Receive" section to see the balance of your minted oBTC.

   • The "Balance" field will show the amount of oBTC you have received.

5. Withdraw oBTC (Optional):

   • If you wish to withdraw your oBTC, navigate to the "Withdraw" tab.

   • Select the "oBTC" option and enter the amount you want to withdraw.

   • Click the "Withdraw" button to initiate the withdrawal process.

Key Features

1. BTC Liquid Token:

   • Deposit BTC: Retail investors can deposit BTC via Multi-Party Computation (MPC) and map it to oBTC .

2. Yield Generation:

   • Yield Pools: Deposit oBTC into yield pools where the underlying BTC follows specific yield strategies.

   • Strategy Types: DeFi strategies use time-weighted points, while CeFi strategies use traditional fund net value management.

3. Governance:

   • Strategy Management: Oversee DeFi and CeFi strategies.

   • Mapping Execution: Manage oBTC mapping.

   • Incentives: Distribute points and $OB tokens as incentives.

4. OmniChain Compatibility:

   • Cross-Chain Movement: Enable native cross-chain functionality for oBTC and oyBTC.