Curve Finance Guide: wBTC to iBTC

Step 1: Access CurveDEX and Connect Your Wallet

1. Navigate to CurveDEX:

   • Open your web browser and go to curve.fi.

   • Ensure you are on the Ethereum mainnet to access the full range of DeFi tools.

2. Connect Your Wallet:

   • Click the "Connect Wallet" button located at the top right corner of the homepage.

   • Choose your preferred Web3 wallet (e.g., MetaMask, WalletConnect, Ledger, etc.). This example chooses MetaMask but the process should be fairly similar for other wallets too.

• Follow the prompts to securely connect your wallet to CurveDEX.

Step 2: Select Tokens for Swap

1. Initiate the Swap:

   • Once your wallet is connected, navigate to the "Exchange" section of CurveDEX.

2. Choose Your Tokens:

   • In the top box, select wBTC (Wrapped Bitcoin).

   • In the bottom box, search for and select iBTC. If iBTC is not listed, ensure you have the correct contract address or check for network compatibility.

Step 3: Set Swap Amount

1. Determine Swap Amount:

   • Enter the amount of wBTC you wish to convert to iBTC.

   • Alternatively, click the "Max" button to use your entire wBTC balance for the swap.

Step 4: Approve Spend

1. Approve Token Spending:

   • Before executing the swap, you need to authorize CurveDEX to spend your wBTC.

   • Click the "Approve Spending" button.

• Confirm the approval transaction in your connected wallet (e.g., MetaMask). This step ensures that CurveDEX can access your wBTC for the swap.

Step 5: Review Transaction Details

1. Check Transaction Costs:

   • Review the estimated transaction fee displayed (typically around $2.90).

   • Note the slippage rate, which is usually low (approximately 0.1%), ensuring minimal price impact.

   • Observe the cash fee associated with the swap (around $4.40).

2. Ensure Accuracy:

   • Double-check all details, including the amount of wBTC, the equivalent iBTC to be received, and the total fees involved.

Step 6: Complete the Swap

1. Execute the Swap:

   • Click the "Swap" button to initiate the transaction.

   • Your wallet will prompt you to confirm the swap. Review the details once more and approve the transaction.

2. Authorize in Wallet:

   • Confirm the swap within your wallet (e.g., MetaMask). Ensure you have sufficient ETH to cover gas fees for the transaction.

Step 7: Track Transaction Status

1. Monitor Progress:

   • After confirming, you can monitor the status of your transaction directly on CurveDEX or through a blockchain explorer like Etherscan.

• The swap typically completes within a few minutes, depending on network congestion.

2. Verify Receipt of iBTC:

   • Once the transaction is confirmed, your iBTC will appear in your connected wallet.

   • You can view your updated balance to ensure the swap was successful.

Conclusion

Swapping wBTC for iBTC on CurveDEX is a straightforward process that unlocks enhanced DeFi opportunities while maintaining the robust security of Bitcoin's Layer 1. By following these simple steps, you can seamlessly convert your Wrapped Bitcoin into iBTC and begin leveraging its benefits within the decentralized finance ecosystem.

What’s Next?

With iBTC now in your wallet, you’re ready to explore advanced DeFi strategies such as staking, lending, and providing liquidity on various platforms. Stay tuned for our next guide, where we’ll delve into maximizing your iBTC through CurveLend and other exciting DeFi integrations.

Pro Tip: Always ensure you are interacting with official CurveDEX platforms and verify contract addresses to safeguard your assets. Happy DeFi-ing!