iBTC at Chainlink SmartCon: Unlocking Bitcoin Yield with Garden Finance and CurveLend

Learn how to earn double-digit yields on Bitcoin through DeFi using iBTC, Garden Finance, and CurveLend's innovative cross-chain solutions.

Hey there, Bitcoin enthusiasts! Ready to put your BTC to work? Let's dive into the exciting developments unveiled at Chainlink SmartCon, where iBTC, Garden Finance, and CurveLend joined forces to bring you a game-changing yield strategy.

iBTC's integration with Chainlink's Proof of Reserve (PoR) and Cross-Chain Interoperability Protocol (CCIP) creates a secure bridge between Bitcoin and DeFi. Chainlink's PoR ensures real-time 1:1 backing of iBTC with Bitcoin, providing unprecedented transparency. CCIP enables seamless cross-chain transfers, allowing iBTC to be utilized across multiple networks.

At SmartCon, iBTC announced an expansion of this integration, enabling minting and burning across Ethereum, Arbitrum, and Base networks. This multi-chain presence significantly boosts iBTC's liquidity and utility in the DeFi ecosystem. By combining Bitcoin's network strength with Chainlink's advanced oracles, iBTC is pioneering a new era of Bitcoin-DeFi interoperability, offering users enhanced security and access to diverse DeFi opportunities while maintaining Bitcoin exposure.

Garden Finance and CurveLend: Your Bitcoin Yield Powerhouses

  • Garden Finance: The fastest bitcoin bridge enabling native BTC to iBTC under 10 minutes, it’s only getting faster with act 2 incoming!

  • CurveLend: Offers innovative lending solutions with its soft-liquidation mechanism, making borrowing and lending more user-friendly.

Step-by-Step Guide to double-digit Real Yield + 5x iBTC Points

1. Convert BTC to iBTC with Garden Finance

a. Connect your wallet to garden.finance

b. Configure your swap: BTC to iBTC Arbitrum

c. Send your Bitcoin to the provided address

d. Wait for confirmations and claim your iBTC

Visit docs.garden.finance for a step-by-step guide. 

2. Leverage your iBTC on CurveLend

a. Connect your wallet to CurveLend on Arbitrum

b. Navigate to the iBTC market

c. Deposit iBTC as collateral

d. Choose your leverage (up to 10x)

3. crvUSD strategies to maximize yields

Now that you have crvUSD borrowed against your iBTC here are some top crvUSD yield opportunities sourced from DeFi Llama

You might consider bridging crvUSD from Arbitrum to Ethereum to access Ethereum yield ✨

Remember, DeFi markets can be volatile. Always do your own research, understand the risks involved, and consider factors beyond just the APY, such as the platform's security, track record, and any lockup periods.

4. Earn and monitor

  • Start earning yield on your leveraged position

  • Keep an eye on your position's health factor

  • Enjoy 5x iBTC Points for participating!

Risk Considerations

  1. Liquidation risk: Price drops may require adding more collateral or face liquidation.

  2. Interest rate fluctuations: Borrowing rates can change, affecting overall returns.

  3. Market volatility: Bitcoin's price swings can impact your position's health.

Conclusion: Your Bitcoin, Working Harder

The collaboration between iBTC, Garden Finance, and CurveLend opens up new horizons for Bitcoin holders in DeFi. This strategy is just the beginning - stay tuned for more exciting developments as we continue to bridge the gap between Bitcoin and the broader DeFi ecosystem.

Ready to take your Bitcoin game to the next level? Give this yield strategy a try and let us know how it works for you!

About iBTC

As a decentralized wrapped Bitcoin, iBTC leverages Discreet Log Contracts (DLCs) and Chainlink's Cross-Chain Interoperability Protocol (CCIP) to provide a theft-proof bridge to cross-chain DeFi, backed by the security of the Bitcoin network. iBTC unlocks yield for your Bitcoin in DeFi with the benefit of lower fees and merchant self-custody, empowering users to put their Bitcoin to work.

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