Introduction to the oBTC Yield Pool
Last updated
Last updated
The oBTC Yield Pool is a decentralized finance (DeFi) protocol that allows users to deposit their wrapped Bitcoin (oBTC ) and earn yields. The protocol currently offers afew yield pool - the B2 Network pool, Babylon Pool.
How to Use the oBTC Yield Pool
Depositing oBTC :
Visit the Obelisk platform and navigate to the "Restaking" section.
Locate the B2 Network pool under the "Defi" category.
Click the "Stake" button to deposit your oBTC into the pool.
Confirm the transaction and wait for the deposit to be processed.
Earning Yields:
Once your oBTC is deposited, the protocol will automatically stake it in the B2 Network to generate yields.
Your earned yields will be tracked in the form of "oyBTC-b2" tokens, which represent your share of the pool's rewards.
The "My oyBTC-b2" and "My oyBTC-b2 Points" fields will display the amount of tokens and points you've accumulated, respectively.
Withdrawing Funds:
When you're ready to withdraw your deposited oBTC and earned rewards, click the "Unstake" button.
Confirm the withdrawal transaction, and your oBTC will be released back to your wallet.
Key Points to Remember:
The oBTC Yield Pool is a Defi protocol, so your deposited oBTC is converted to oyBTC-b2 tokens, which represent your stake in the pool.
Yields are earned through the protocol's staking strategies in the B2 Network.
Your earned rewards are tracked in the form of oyBTC-b2 tokens and points.
You can withdraw your deposited oBTC and earned rewards at any time by unstaking your position.
Users who pledge OBTC into the super yield pool will receive a pledge certificate for the super yield pool. The pledge certificate will be entitled to multiple layers of income from the super yield pool.
Users can also stake OBTC across the chain to the pledge pool on L2 in cooperation with Obelisk, and obtain income from the second layer while also obtaining multiple layers of income from the super yield pool.
Users can obtain oyBTC 1:1 by staking OBTC to the super yield pool on Ethereum.
In Obelisk's super yield pool, the underlying assets will be uniformly converted into FBTC, and then the native BTC assets corresponding to FBTC will be pledged to Babylon through the FBTC pledge interface, obtaining the first layer of income while obtaining additional FBTC Points rewards.
oyBTC Point
The amount of oyBTC held by users is counted every hour and converted into points at a ratio of 1:1000. For example, if a user holds 1 oyBTC, 1000 oyBTC Points will be added every hour.
Within one month after the Defi rewards are issued, users can collect income on the Obelisk DAPP page according to the amount of oyBTC Points.
