I will show you how to invest in Tetu Finance's renBTC-BTC liquidity pool on Fantom blockchain to earn 25% APY. It is great way to HOLD Bitcoin risk free while have your Bitcoin holding grows. If you hold your Bitcoin on centralized Exchange like Coinbase or Binance, your Bitcoin holdings does not grow in value. Use this strategy to have your Bitcoin holding grow in few years when Bitcoin is forecasted to hit $400,000 or even 1 Million dollars.
What is Tetu Finance
Tetu is a Web3 asset management protocol built on Polygon that implement automated yield farming strategies in order to provide investors with a safe and secure method of receiving high and stable yield on their investments. Tetu's innovative solutions provides automated yield aggregation and distribution through xTETU. Tetu's development focus is to build a self-sustaining yield management ecosystem that provides stable and attractive yields for users. Tetu aims to make the development of automated and decentralized Yield management solutions the main structure of the protocol.
Tokenization of revenue.
xTETU token will always have a part of profits. The personal share of profits of users are equivalent to their ownership of TETU supply. It is not about the price of TETU but revenue of the protocol.
Income generation.
TETU system naturally creates an accumulation effect to xTETU holders, TETU's tokenomics will exert a scarcity dynamic over time. Eventually the market will realize that the APR of xTETU is not simple rewards from emissions, but a stable income correlated to Tetu protocol ability to generate income.
Value of yield.
Stable income provided by xTETU must be the main driver of TETU price. The Value of the TETU token is associated with its ability to generate income.
Buying Bitcoin Without Fees from Strike App
You can buy Bitcoin from Strike App without any fees. You heard it right-- there is no fees to buy Bitcoin with fiat (in my case USD) in Strike app. I will provide links below to Strike App signup if you do not have one. Strike App you need to do KYC (Know-Your-Customer) with government issued ID. There is no miner fees to send Bitcoin on Strike App due it's use of Bitcoin Lightning Network. There is a weekly limit of $2000 to purchase bitcoins. I love it because it allows me to invest my weekly Starbucks spending few hundred dollars into Crypto Defi platform for higher yields.
Bridging BTC into renBTC on Fantom
Use Ren Bridge to convert Native BTC into RenBTC on Fantom. RenVM Fee is 0.2%. RenVM takes a 0.2% fee per mint transaction and 0.1% per burn transaction. This is shared evenly between all active nodes in the decentralized network. There is a semi fixed bitcoin miner fee. The fee required by Bitcoin miners, to move BTC. This does not go to RenVM or the Ren team. I am sending 0.0012 BTC or $48 worth. I am sending to my Metamask Fantom wallet. RenVM fee is 0.00000240 BTC or $0.10 this changes with amount of Bitcoin your are bridging -- 0.2% of Bitcoins bridged. Second fee is Bitcoin Miner Fee is 0.000088 BTC or $3.55. This Bitcoin Miner fee does not change with quantity of BTC your are bridging. Third fee is Estimated FTM fee is 0.0136 FTM or $0.0229. This FTM fee does not change with quantity of BTC your are bridging. The third fee is the estimated cost to perform a transaction on the Fantom network. This fee goes to FTM miners and paid in FTM token. Click I acknowledge the fees and that this transaction requires FTM. You need to have less than 1 FTM token ($2 worth) in your wallet to pay for FTM gas fees. Click View BTC Gateway Address. You have given 29 hour. This deposit address is only open for 29 hours, but you can send to it multiple times within this session. Each transaction to this deposit address takes about 60 minutes to complete. Send you Bitcoin you purchased from Strike App before to this Bitcoin address directly from Strike without paying any miner fee because Strike uses Bitcoin lightning Network. For security reasons, you will need to wait for 6 block confirmations before you can mint renBTC on Fantom. If you cannot complete this transaction within the required time, please return at a later date. After 6 block confirmations are complete, you need to click Mint renBTC button and pays for the transaction with FTM tokens as gas.
If you do not finish your transactions within this period/session/time frame, you risk losing the deposits. Click I can complete this transaction within the time. Click Continue. Now you will presented with the temporary Bitcoin address. Your Ren BTC will be send to the same Metamask address you connected earlier. You need 6 confirmations before funds appear on your Fantom wallet. It takes like 60 minutes according to renBridge.
Investing in RenBTC / BTC LP Pool on Curve Finance
As you can browse Tetu Finance, Tetu Finance is yield aggregator just like Beefy Finance. As a Yield Aggregator, it list farm yields from many DEX built on Fantom Block chain like Beethoven, Spooky Swap, Screeam, Tetu Swap, Curve Finance. You can see high yielded Stablecoin Liquidity pools like USDC, DAI, MIM and FRAX. USDC-FRAX both stablecoin pairs offer nearly 30% APY. It great for both stablecoins with no risk of Impermance loss. Click on Show more below. You will see renBTC-BTC liquidity pool. This liquidity pool is invested in Curve Finance. Curve finance is a bluechip DEX with great track record of Smart Contract safety.
In Curve Finance, This vault has 99% auto-compound, 1% of fees are used to buyback tetu from the market and distribute it to the PS(profit sharing) vault. When you open Tetu.io's BTC-renBTC LP pair, in order to deposit, you need to first approve the deposit. Click Approve and Pay FTM gas fees like $0.03 in FTM tokens. After confirmed, Click on Manage BTC-renBTC liquidity button. This will open up a page in Curve Finance Fantom renBTC wBTC deposit page at ftm.curve.fi/ren/deposit. In Curve finance, I deposited my max amount of 0.00109380 renBTC that I got from renBridge in earlier step. Click Deposit and stake in gauge to directly create btcCRV LP tokens. I by accident clicked Deposit that made me have to do do a extra staking step later with FTM gas. This is create 0.00109 btcCRV LP tokens that I can invest in a yield aggregator called Tetu Finance in next step.
Investing in RenBTC / BTC LP Pool on Tetu Finance
I will show you how to Invest in RenBTC / BTC LP Pool on Tetu Finance the LP token you got from Curve Finance from previous step. What Tetu Finance does to the LP token is it automatically harvest the rewards on behalf of me and take a small cut and auto invest back into the pool without me paying any gas fees to manually harvest rewards.
After I have invested 0.002 renBTC on curve finance with equal amount of renBTC and BTC on fantom from previous step with Deposit & Stake in gauge, you will get 0.00108151 btcCRV($42) LP tokens from Curve. Now go back to tetu.io as a yield optimizer and deposit this 0.00108151 btcCRV Liquidity tokens. First you need to approve Deposit with FTM gas fees again less than 5 cents. Now you are ready to Deposit the btcCRV liquidity tokens. Select the full amount from the bar. Click Deposit. Pay FTM gas fees less at 5 cents. After confirmation. Refresh app.tetu.io. Now you will see on MetaMask all your deposited btcCRV liquidity tokens are gone. You can click on withdrawal tab anytime to withdraw btcCRV liquidity tokens from tetu.io back to your MetaMask fantom wallet. As you can see in the rewards section, I have 28 days let from today to claim my first staking rewards. When I go back to Earn tab. I can see my $42 of investment in BTC-renBTC liquidity pool hosted by Curve finance. Towards the right you can see I already made $0.00000618 in rewards.
Risk vs Rewards
Since my strategy is to hold Bitcoin for the long term, holding renBTC and BTC on fantom network that is same price as native BTC price there is no impermance loss because both tokens are bitcoin pegged. We are investing in Curve Finance. It is according to Defisafety has a safety score to 97%. Curve never had a Smart contract exploit. It has a great track record of safety. Tetu similarly has a defi safety score of 87%. Very high on very reputable scale. Also, if you look at the APR history, APR history stays 24% APY for last 1 year. It is very stable APY. You know your APY is not spiking like other DEX. It is very constant stable APY.
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