Through Binance Bridge is possible to bring Bitcoin in the Binance Smart Chain format: BTCB (0x7130d2a12b9bcbfae4f2634d864a1ee1ce3ead9c). Bitcoin in Binance's new Bep2 and Bep20 format (1: 1 ratio with BTC, also called Wrapped Bitcoin) presents interesting earning opportunities, let's see the main ones.
To switch from one format to another (Bep2 to Bep20), I refer you to this article: How to Swap Token Bep2 To Bep20: Binance Smart Chain (Yield Farming)
What can I do with Wrapped Bitcoin in the Binance Smart Chain?
-Lending: CREAM, ForTube
-Operate on Stablecoins: QIAN and Venus (a model similar to MakerDAO on Ethereum)
-Yield Farming: Beefy, Fry.world
-Liquidity Pool: Bakery, Pancake, BurgerSwap
The main advantage of BTCB is the possibility of holding BTC by exploiting the DeFi ecosystem by increasing one's earnings. Without BTCB, you would have to sell your BTC, miss out on potential price gains, and buy DeFi assets by interacting with dApps.
With BTCB, you can do all of this without selling BTC. Your BTC remains frozen and you can redeem BTCB (you can later claim the blocked BTC at any time).
It goes without saying that through the Binance Smart Chain we will have great transaction speeds and low costs.
LENDING
For lending, as mentioned, the best platform is Cream which allows you to deposit BTCB and earn interest. For a simple passive income, however, I continue to prefer the CEFI platforms such as BlockFi and Celsius (which on the classic BTC guarantee up to 6% per year).
Cream and ForTube are also interesting for requesting loans: an asset is collateralized and stablecoins are obtained (USDT and BUSD supported, as well as BTC, Ethereum, Atom, Ada, etc).
STABLECOIN
A bit like MakerDAO, the QIAN and Venus ecosystems allow you to mint stablecoins by collateralising BTCB. Through these stablecoins you can buy all the BTC you want (but pay attention to the liquidation of the collateralised asset!).
LIQUIDITY POOL
These are platforms with high returns but also high risks (due to the impermanent loss having to insert two high volatility tokens in the pool). PancakeSwap is certainly the best known decentralized exchange.
YIELD FARMING
I think this is a more interesting strategy. If you are a true farmer, you can also start earning interest using platforms like Beefy.finance. Beefy allows you to put BTCB in vaults to earn interest with dedicated yield-farming strategies. As shown in the photo in the article, on Beefy.finance you can see very high APY:
-Drugs / BNB: 228%
-Guns / BNB: 41%
-BUSD / BNB: 95%
-CRED / BNB: 348%
-BTC / BNB: 105%
-ETH / BNB: 63%
-Give / BNB: 180%
-USDT / BNB: 166%
𝕋𝕙𝕦𝕘𝕤 is a deflationary token: the supply decreases over time because when they are moved or sold ... part of your moved Thugs tokens are burned.
🅳🆁🆄🅶🆂 & 🅷🅾🅴🆂 are distributed to farmers and staking. 🄶🅄🄽🅂 are distributed by targeting Hoes in the pool.
【Ｃｒｅｄ】 are distributed by staking their own Thugs. This is also a deflationary token.
░B░e░e░f░y░ ░(░B░I░F░I░)░ is the native token of the Yield Farming platform and is occasionally distributed to Drugs owners.
To buy the tokens of your interest you can also use Pancake, StreetSwap and the other sites we have seen previously (since in each one we also find an exchange). In particular, the native Beefy token is very interesting for its very low supply (it could be the new Yearn Finance, even as an ecosystem).
Always beware of liquidation! Very high earnings but also high risk.
