Bitcoin Accumulator Tokens
Last updated
Last updated
The Bitcoin Accumulator features four tokens:
This is Player 2's wrapped version of Bitcoin and it will always be backed 1:1 with Bitcoin itself.
There are two way to acquire $wrBTC:
1) Buy $wrBTC bonds by depositing $BTC with Baatar the Bargain Hunter
When you purchase these bonds, $wrBTC will be minted and released linearly to you every 24 hours over the course of 7 days. $wrBTC that is released will need to be claimed.
2) Swap for $wrBTC by visiting Tamarind the Trader
The Bitcoin Accumulator has a genesis wrBTC-USDC liquidity pool and it will facilitate all purchases at the start. This method allows you to acquire $wrBTC instantly.
Each Bitcoin Accumulator ($BTCA) token is backed by many $wrBTC tokens. The amount of $wrBTC backing each type of $BTCA token varies and is represented by their specific Index. As the protocol makes money, it will share its profits by way of increasing the various Indexes.
The act of changing your $wrBTC tokens to $BTCA tokens is called Upgrading. And the act of changing your $BTCA tokens back to $wrBTC is called Downgrading.
Upgrading is instant but Downgrading requires time; the amount of time is dependent on the BTCA token type. Once a Player begins the Downgrade process, the protocol locks in the Index rate at that point, meaning the Player will stop accruing $wrBTC on those Downgrading $BTCA tokens.
Both Upgrading and Downgrading can be done with Aljunied the Accumulator.
As $BTCA1 offers the highest yield, it carries the longest Downgrading period of 28 days. $BTCA1 carries a weight of 8 out of 12, meaning it receives 8/12 of all profits shared.
$BTCA2 offers the second highest yield, and it carries a Downgrading period of 7 days. $BTCA2 carries a weight of 3 out of 12, meaning it receives 3/12 of all profits shared.
$BTCA3 offers the lowest yield, and it carries a Downgrading period of 1 day. $BTCA3 carries a weight of 1 out of 12, meaning it receives 1/12 of all profits shared.
