BTCFi Guide for pre-launch campaign participants
The long-awaited DeFi platform that utilizes Bitcoin, BTCFi, is finally here.
Starting March 14th, BTCFi held a pre-launch campaign that lasted approximately a month, and saw many Bitcoin enthusiasts participate in the campaign. Through this pre-launch event, over $7.5 million USD worth of Bitcoin was deposited from such users, exceeding our initial expectations and allocation. This re-affirmed our beliefs that there is a sizable number of people who hold Bitcoin with a high interest not only in investing in Bitcoin, but also in opportunities that allow generating additional profits through Bitcoin.
However, the BTCFi pre-launch event is not over yet. Now that the BTCFi service is now active, there are a few more steps to be taken within the service to complete your participation in the event, and to become eligible to receive the rewards. As previously mentioned in the event announcement, you need to migrate the Bitcoin you deposited for the event to the BTCFi service, mint BtcUSD, and then deposit it in the Everdex BtcUSD-USDC pool in order to meet the necessary conditions for reward eligibility.
Please refer to the detailed instructions below and be sure to complete the process to the end to receive the rewards!
Migration Event Details
- Target : Pre-launch event participants
- Period : Until 23:59 on Wednesday, April 24, 2024 (UTC+9)
- Reward distribution schedule (To be calculated every Wednesday, and given out on Friday)
1st week : Apr. 26th
2nd week : May 3rd
3rd week : May 10th
4th week : May 17th
Go to BTCFi (btcfi.one)
[Connect wallet and check event participation conditions]
Connect the wallet you participated in the pre-event in ①, then click the “Points” tab on the left ②.
*If you are using a wallet other than Pockie, you will need to add and change to Bifrost Network. If you have not already done so, here is the guide to adding Bifrost Network.
Clicking on the “Migrate” button in ③ will display the event participation conditions popup. Review, then confirm to proceed.
[Event Participation Progresses in 3 Stages]
Stage 1 — Asset migration
Clicking on the “Migrate your asset” button in ④ will complete the first stage. You will see a pop-up indicating the completion of asset migration, and clicking on the “Go mint BtcUSD now” button in ⑤ will take you to the next stage.
Stage 2 — Minting BtcUSD
You will see a pop-up confirming the quantity of BtcUSD to mint, with the maximum mintable quantity entered by default. Confirming the quantity, and click the “Mint” button in ⑥.
*You can mint up to 50% of the deposited amount, and rewards will be provided proportional to the minted BtcUSD.
Now click on ⑦ “Go to Earn” button to proceed to the last step.
Stage 3 — Supplying liquidity to Everdex
You will see a pop-up confirming the quantity of BtcUSD you will supply to Everdex. Confirm the amount, then click on ⑧ “Supply Liquidity” to supply your BtcUSD to Everdex to complete the last step. Once this step is completed, click on ⑨ “Close pop-up”, and all conditions for reward eligibility will be fulfilled.
*If this is your first time depositing to Everdex, you may need to approve your wallet first.
This completes all stages. We would like to express our sincere gratitude to everyone who participated in the event! The rewards will be paid out over 4 weeks, and if you withdraw the deposited amount midway, you will be excluded from the reward eligibility starting from that week. Please keep this in mind and try to receive as much of the reward as possible.
The event is just the beginning. The benefits you can gain from using BTCFi are endless. If you simply hold 1 BTC, it will remain 1 BTC. But with BTCFi, you can create even greater value. Have you not participated in the event yet? Start using BTCFi right away. Your precious BTC assets will become even more valuable.
