JWLBTC

Minting

JWLBTC is a derivative token that can be minted using BTC.

JWLBTC can make use of POL by minting 1.1 JWLBTC per deposited BTC. This does not mean JWLBTC is not 1:1 backed. JWLBTC is 1:1 backed. Please read up on how POL works, what it does, and how the backing is ensured.

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Staking

Staking JWLBTC on JewelSwap will give the user more JWLBTC.

Rewards are paid multiple times per day.

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Rewards

Rewards for JWLBTC staking stem from these sources:

• The BTC deposited by users is deployed into Hatom and JewelSwap Money Markets (and collateral activation if possible) to generate yield.

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Unstaking

Unstaking JWLBTC can happen immediatelly. JWLBTC can be unstaked without lockup.

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Swapping

You can swap JWLBTC at varying market rates on Ashswap. If the price of JWLBTC is below it's intrinsic value, it may make sense to arbitrage the price difference.

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Redemption

JWLBTC is redeemable 1:1 for BTC.

Redeeming JWLBTC for BTC takes 10 epochs (unbonding time). 10 epochs is usually 10 days on the MultiversX network. See Epochs.

When unbonding, you receive an NFT from JewelSwap. UJWLBTC NFT This is a so-called unstaking/unbonding NFT. You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or take a loan against it. You need the NFT (which is essentially a receipt) to claim your assets after the unbonding time passed. The NFT proofs your ownership of the unbonding assets.