How to earn as Bitcoin holders on Avalanche?
Did you know that Bitcoin can be used in many cases on Avalanche?
This article will detail some ways to make money with BTC 🧵👇
AVAX Avalanche AVAX
1/ Stake/One-side farm
To put it simply, Bitcoin holders can farm/stake BTC without pairing with any liquidity pool. You can farm BTC in Alt pool of @Platypusdefi, here you can also boost APR/APY by staking more PTP or owning Platypus NFT.
@Platypusdefi For even more profit, you can stake Bitcoin directly into Platypus yield aggregators: @vector_fi,">@vector_fi @echidna_finance, @yieldyak_.These protocols already hold PTP/NFT and you will immediately get an APR boost without owning any PTP token.
LP farming is the most popular way, BTC is also farmed in many other ecosystems.
There are many protocols that pay high returns, but this is also a high-risk way. Users can face risks such as: impermanent loss, liquidity drain, flashloan, hack,...
@Platypusdefi @vector_fi @echidna_finance @yieldyak_ There are many projects on Avalanche that allow BTC / LP token farming, those that provide one-side farm still provide LP farm, in addition we have projects such as: @traderjoe_xyz @pangolindex @KyberNetwork @snowballdefi @beefyfinance @nereusfinance and many others.
For those who want to maximize profits and have experience in the DeFi market, you can join Lend/Borrow BTC. The fact that Lend BTC and Borrow other tokens open up a lot of different ways and tactics to make money.
you can provide BTC as collateral and borrow other tokens, then you can use these tokens to trade/farm/stake or do whatever you want, keep an eye on the price liquidation.
@Platypusdefi @vector_fi @echidna_finance @yieldyak_ @traderjoe_xyz @pangolindex @KyberNetwork @snowballdefi @beefyfinance @nereusfinance @BenqiFinance On @YetiFinance , you can deposit BTC and other assets into Troves, then borrow the project's stablecoin YUSD, then you can use this stablecoin in many protocols in the Avalanche ecosystem to earn more. And of course this will require further research.
This article does not represent financial advice. Please do your own research before investing.This post is based on this twitter thread.