# JWLBTC

#### **Minting**

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

JWLBTC **can** make use of [POL](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol)[ ](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-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](https://docs.jewelswap.io/other-resources/definitions/jewelswap-protocol-owned-liquidity-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 ](https://docs.jewelswap.io/other-resources/definitions#arbitrage)the price difference.

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**Redemption**

JWLBTC is redeemable 1:1 for BTC.

Redeeming JWLBTC for BTC takes 10 [epochs ](https://docs.jewelswap.io/other-resources/definitions#epoch)(unbonding time).\
10 epochs is usually 10 days on the MultiversX network. [See Epochs.](https://docs.jewelswap.io/other-resources/definitions#epoch)

When unbonding, you receive an NFT from JewelSwap. **UJWLBTC NFT**\
This is a so-called [**unstaking/unbonding NFT**](https://docs.jewelswap.io/other-resources/definitions#unstaking-unbonding-nfts)**.**\
You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or [take a loan against it](https://docs.jewelswap.io/multiversx/nft-loan-modules/nft-loans-explained).\
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.