How to mint oBTC on Obelisk
Last updated
Last updated
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.
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.
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.
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.
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.
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.
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.
BTC Liquid Token:
Deposit BTC: Retail investors can deposit BTC via Multi-Party Computation (MPC) and map it to oBTC .
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.
Governance:
Strategy Management: Oversee DeFi and CeFi strategies.
Mapping Execution: Manage oBTC mapping.
Incentives: Distribute points and $OB tokens as incentives.
OmniChain Compatibility:
Cross-Chain Movement: Enable native cross-chain functionality for oBTC and oyBTC.
