Botanix, an Ethereum Virtual Machine (EVM) Compatible Bitcoin Sidechain, has unveiled its yield-bearing Bitcoin standard, STBTC.
Users can use users via STBTC and immediately cash in Bitcoin that has been generated from the Bitcoin-through transaction costs of the chain. The yield speed depends on activity on the Botanix network.
The proceeds will go live tomorrow, September 18, with projections of a maximum of 30% APY, according to a release shared with the Defiant. The activation will debut with the liquid setting of Botanix, Genesis Vault, which comes a drained Bitcoin-Deposits safe comes first, first, on September 25. The safe wants to reward early Botanix users with more generous yields.
“With STBTC, Bitcoin means in more bitcoin, directly earned with network use instead of speculative agriculture. This model creates intrinsic yield that is sustainable, transparent and immediately interchangeable,” said Willem Schoe, the co-founder and CEO of Botanix Labs.
Botanix’s total value locked (TVL) is growing slowly but steadily since the Mainstet launch, and is at $ 13.8 million, an increase of 91% since the beginning of September.
Botanix TVL – Defillama
Native BTC output is intended to offer Bitcoin holders an efficiency while retaining the full use of their Bitcoin holdings in the growing Bitcoin DEFI sector. STBTC can be used in extra yield options, or as collateral in supported protocols on Botanix.
“The idea of Bitcoin that Bitcoin deserves, without introducing the risk of third parties, is something that the market has waited for more than ten years for … Botanix is one of the first L2s to introduce a real, indigenous Bitcoin return and the first to reused transaction costs as a dumb-dedgement bron.
