crypto33prophet on Nostr: For people that don’t understand wbtc -it’s a ERC-20 token on ETH that is back ...
For people that don’t understand wbtc -it’s a ERC-20 token on ETH that is back 1:1 with real btc through a decentralized blockchain protocol with proof of reserve…meaning 47 million $ of btc was purchased in order to mint the wbtc -the benefit is you can use btc on L2 to access defi while still tracking btc price …it’s like having your actual btc locked on ETH network while you you get a certificate of ownership of btc to invest /loan/make passive income with your wbtc make more wbtc passively..and when you’re done you can convert back to actual btc …it’s not a shit coin anyone who thinks that doesn’t know what they’re talking about
Published at
2025-01-21 02:39:04Event JSON
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"pubkey": "40e04777d6a0707b5426f5c037c7251cbc5004e33f9ea938179a35f457d30936",
"created_at": 1737427144,
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"content": "For people that don’t understand wbtc -it’s a ERC-20 token on ETH that is back 1:1 with real btc through a decentralized blockchain protocol with proof of reserve…meaning 47 million $ of btc was purchased in order to mint the wbtc -the benefit is you can use btc on L2 to access defi while still tracking btc price …it’s like having your actual btc locked on ETH network while you you get a certificate of ownership of btc to invest /loan/make passive income with your wbtc make more wbtc passively..and when you’re done you can convert back to actual btc …it’s not a shit coin anyone who thinks that doesn’t know what they’re talking about ",
"sig": "2cf6076249a5d0dcbac30d9eefbacaf6a394bce56e0ad3e1f9d74ab6e72cf9b9f0875fe353b3026e1a076f7831153669cf06fda5760e27ba89f73ea66a010faf"
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