Key points of this article:
Participate in PumpBTC to earn multiple airdrop point rewards: PumpBTC airdrop points, FBTC airdrop points, Babylon airdrop points.
PumpBTC has secured 10 million USD in financing and is collaborating with industry leaders such as BlockSEC and Cobo.
PumpBTC will distribute the full prize pool of the Mantle Defi Fest to participants who complete Layer 3 tasks.
PumpBTC is a BTC liquidity staking project, where users can stake Bitcoin-related assets such as WBTC, FBTC, cbBTC, and BTCB to obtain PumpBTC, which in turn earns yield through Babylon.
* PumpBTC currently does not support redemption. It is expected to support redemption after the Babylon mainnet goes live (the Withdraw function will allow PumpBTC to be redeemed as WBTC, but a 2% fee will be deducted).
* Users can use PumpBTC to participate in other DeFi protocols to earn yields, such as the lending protocol Kinza, yield protocol Pendle, LRT protocol Pell, etc.
Other key information includes:
Audit is provided by BlockSEC
Custody is provided by Cobo
TVL exceeds 500 million USD (data sourced from Defi Llama)
In October, a financing round of 10 million USD was just completed, led by SevenX, Mirana, with follow-on investments from institutions such as UTXO and Mantle Ecosystem Fund.
Advanced task operation steps
The task of PumpBTC is straightforward: it’s just staking your FBTC into PumpBTC.
1. Obtain FBTC
Its data is directly pulled from wallet balances. If you have followed my previous articles, your wallet should already have FBTC to complete the tasks.
2. Stake FBTC into PumpBTC
This step allows everyone to decide how much FBTC to stake based on their asset allocation preferences.
* Participating in the PumpBTC protocol through FBTC can earn 1.15 times PumpBTC airdrop points + 4 times FBTC Sparks airdrop points, as well as Babylon point yield.
3. Mint cubes on Layer 3
Lastly, return to the L3 task page to mint cubes (lottery tickets)
PumpBTC also provides daily tasks, and everyone can evaluate whether to participate in order to earn additional cubes based on their needs.
Summary
As a Bitcoin liquidity staking solution, PumpBTC itself does not have many operational features.
However, if you are a long-term holder of Bitcoin, you might consider earning additional returns during your long-term BTC holding process through PumpBTC, including the FBTC airdrop points, PumpBTC airdrop points, Babylon airdrop points mentioned in this article, and if you apply PumpBTC to other DeFi protocols, there will be more opportunities for yield.
The author believes that participants in PumpBTC are not many, and such protocols have a better chance of hitting a jackpot in airdrop rewards and obtaining high airdrop returns.
In addition, PumpBTC and FBTC were launched almost simultaneously, and the two collaborated early on. One can also expect if PumpBTC might provide users who staked through FBTC a higher chance of airdrop weight.
Additionally, regarding the prize pool for this Mantle Defi Fest, PumpBTC has announced its prize pool distribution on its community account, as shown in the figure below:
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※ The above content does not constitute investment advice. Users should operate according to their own risk tolerance and participate in the investment market with caution, DYOR.
※ The attached image is sourced from PumpBTC and Layer 3
