Bedrock, Pendle, Babylon | New Bitcoin Liquidity Pool Liquid Restaking Token Yield Farming Strategies Unlocked
Jun 25, 2024
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Exploring new Bitcoin yield farming strategies with Pendle, Bedrock, and Babylon projects. Understanding PT and YT segregation in Pendle for optimal yield farming. Discussing maturity dates and yield claiming rights in panel pools. Delving into security models and edge cases in Babylon ICS chains. Highlighting optimal yield farming strategies and maturity periods on Pendle Protocol. Excitement around the upcoming mainnet launch and yield farming opportunities.
Pendle allows trading yield-bearing assets via YT and PT tokens, expanding yield farming options.
Bedrock's UniBTC soft launch targets WBTC holders, with plans for future expansions and partnerships.
Deep dives
Pendle Protocol Overview
Pendle is a protocol for tokenizing and trading yield-bearing assets like USDC and cDai. Users can speculate on yield by acquiring or trading YT tokens or obtain fixed yield by purchasing PT tokens. Pendle has seen traction recently and offers features like points trading, enabling new trading primitives on the platform.
Bedrock Protocol and UniBTC Launch
Bedrock has launched a soft launch for UniBTC, allowing users to mint UniBTC using WBTC. Once Babylon is ready, staking actions for customers will be conducted, expanding to other BTCs in the future. The soft launch targets WBTC holders, aiming to involve $10 billion worth of BTC. Bedrock aims for partnerships and further expansions in the future.
Babylon Mainnet Launch
The Babylon mainnet is targeted for June, focusing on phase one with locking BTC on staking contracts and launching the first chain of the Babylon ecosystem. Security audits and a testnet are ongoing, with a progressive rollout plan set for subsequent phases, similar to Eigenlayer's approach.
Optimal Yield Farming Strategy and Opportunities on Pendle
Users looking to participate in yield farming can consider various strategies on Pendle, such as buying YT tokens for increased exposure and potential earnings or purchasing PT tokens to lock in yield. Liquidity providers on AMMs can earn Pendle tokens, with forthcoming opportunities for trading and farming on the platform.