> For the complete documentation index, see [llms.txt](https://docs.jewelswap.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jewelswap.io/multiversx/staking-derivatives/introduction-to-staking/derivative-tokens/redeemable-derivatives/jwlbtc.md). # JWLBTC #### **Minting** JWLBTC is a derivative token that can be minted using BTC. JWLBTC **can** make use of [POL](/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol.md)[ ](/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol.md)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](/other-resources/definitions/jewelswap-protocol-owned-liquidity-pol.md) works, what it does, and how the backing is ensured. *** #### **Staking** Staking JWLBTC on JewelSwap will give the user more JWLBTC. Rewards are paid multiple times per day. *** **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. *** #### **Unstaking** Unstaking JWLBTC can happen immediatelly. JWLBTC can be unstaked without lockup. *** #### 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 ](/other-resources/definitions.md#arbitrage)the price difference. *** **Redemption** JWLBTC is redeemable 1:1 for BTC. Redeeming JWLBTC for BTC takes 10 [epochs ](/other-resources/definitions.md#epoch)(unbonding time).\ 10 epochs is usually 10 days on the MultiversX network. [See Epochs.](/other-resources/definitions.md#epoch) When unbonding, you receive an NFT from JewelSwap. **UJWLBTC NFT**\ This is a so-called [**unstaking/unbonding NFT**](/other-resources/definitions.md#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](/multiversx/nft-loan-modules/nft-loans-explained.md).\ 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. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.jewelswap.io/multiversx/staking-derivatives/introduction-to-staking/derivative-tokens/redeemable-derivatives/jwlbtc.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.