BTC Proxy: Empowering Decentralized Finance

BTC PROXY
In a world where a centralized financial system is fast losing the level of trust people have in it, decentralized finance is the perfect replacement. However, bitcoin, the first cryptocurrency and the biggest based on market capitalization are not heavily featured in decentralized finance. The reason for this exclusion is that bitcoin wasn’t designed with the qualities of DeFi in mind. Also, because Ethereum is the first blockchain network on which decentralized finance was built (although decentralized apps and exchanges have also been built on other networks such as Polygon Matic), it is almost impossible for investors, traders and bitcoin enthusiasts to be get involved with Defi.
But all that is changing…

Because of BTC Proxy!
Now, I am sure you’re wondering how all of that will change when all the decentralized platforms out there require altcoins to stake and farm and mint new tokens. I will let you in on this secret very soon. Just stay with me, please.
BTC Proxy was built to enable bitcoin enthusiasts and holders as well as investors to get involved in Decentralized Finance and get rewarded for it.

BTC Proxy is a multi-dimensional protocol that helps to tokenize bitcoin on the Ethereum network, ERC20, and the Matic Polygon network, MRC20. BTC Proxy uses Proxy relay to help bitcoin holders convert their bitcoin to Bitcoin proxy tokens, and then stake these tokens on amazing projects on the network.
Now, that might sound like a lot of things. I’ll break it down.

Have you ever seen amazing crypto projects that you were so sure, after doing your research, would be massive in the future?
You want to get in on the project so badly but you can’t.

Not because the developers and the team behind the project don’t like you.
Nothing of such nature!
But because you needed to stake some tokens first. But you only have Bitcoin in your wallet. You hit your head so hard on the wall you almost want to cry.

A few years later, you see that the project is doing so well, and the market price has more than quadrupled. You hate that you missed out on it.
•What if I told you that you can get into such projects now, with your bitcoin, and get massively rewarded?
•What if I told you that you don’t have to worry anymore about not having ‘tokens’ to stake or farm?

With BTC Proxy, all of those worries are gone!
So many amazing benefits of BTC proxy exist, but before delving into all of them, and how you can mint BTCpx, the network’s token, let me explain the main problem BTC Proxy is here to solve.

THE MAIN PROBLEM
Transferring your bitcoin value to Ethereum and other networks has been a major issue. The clamour for a permissionless and decentralized bridge to help in these transfers has increased over the last year. Although these transfers can be made, they’re done with the help of a third-party network, and most times, these processes are unreliable and unsafe, especially for institutions who want to transfer bitcoin value to Ethereum or Matic DeFi.

Another major issue is the level of risks and amount of slippage fees involved with these third-party centralized exchanges when transferring bitcoin value to either Ethereum or Matic protocols. These issues, and many more, were the reasons the team at BTC Proxy developed the network and the native token, BTCpx, to help solve these problems, making swapping, staking and farming with bitcoin possible, easy, fast and secure.

ADVANTAGES OF BTC PROXY
You have a decentralized bridge that helps you, the bitcoin holder, to transfer bitcoin value onto ERC20/MRC20.
Has secured lubrication
The BTC proxy standardization allows bitcoin holders to participate in decentralized Finance applications.
Brings Liquidity to BTC
Interoperability between cryptocurrencies.

These advantages are amazing, aren’t they?
Well, there are some caveats you need to know though before we move on.
Remember I mentioned that the slippage fees are so small they’re almost non-existent?
There are other fees you should know about.
They are:
•Bridge fees
•Redemption fees
•Custodian and insurance fees
•Minting fees

You can mint BTCpx, the Bitcoin Proxy’s native token by staking your BTC on the platform.

CONCLUSION:
The future of decentralized finance is brilliant. However, with Bitcoin Proxy, the number one cryptocurrency is now in the game, and you can bet your money that this will change the DeFi ecosystem. You should be staking your BTC already. Have you started? What are you waiting for?
Get on, Now!

For more information kindly visit the links below

Website: https://btcproxy.io
Whitepaper: https://docs.btcpx.io
Twitter: https://twitter.com/BTC_proxy
Telegram: https://t.me/BTC_Proxy

Author: Dulo Wegner
0x username: dulowegner