Pendle Launches eBTC, Bitcoin Liquidity Reward Token Volt

IconCryptoNewsTerminal Staff29 Aug, 2024

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Pendle Launches eBTC, Bitcoin Liquidity Reward Token Volt

Pendle, a decentralized finance yield protocol, has introduced eBTC, a Bitcoin Liquidity Reward Token (LRT) Volt (vault) developed in collaboration with X. This development enables users to generate yield by depositing their Bitcoin into the BTC eBTC Pool. The launch of eBTC is a significant step towards expanding Bitcoin's accessibility within the decentralized finance ecosystem. By leveraging Pendle's innovative yield-generating capabilities, users can now benefit from Bitcoin's price movements while simultaneously earning additional rewards. To participate, users can deposit their Bitcoin into the BTC eBTC Pool, where they will receive eBTC tokens representing their deposited funds. eBTC tokens can then be used to claim rewards generated from the pool's yield-generating activities. Pendle's eBTC opens up opportunities for Bitcoin holders to maximize their returns without sacrificing the security and decentralization of the original cryptocurrency. This integration not only enhances the utility of Bitcoin but also contributes to the growth and adoption of decentralized finance.

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