JWLBTC
Last updated
Last updated
JWLBTC is a derivative token that can be minted using BTC.
JWLBTC can make use of 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 works, what it does, and how the backing is ensured.
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 JWLBTC can happen immediatelly. JWLBTC can be unstaked without lockup.
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 the price difference.
Redemption
JWLBTC is redeemable 1:1 for BTC.
Redeeming JWLBTC for BTC takes 10 (unbonding time). 10 epochs is usually 10 days on the MultiversX network.
When unbonding, you receive an NFT from JewelSwap. UJWLBTC NFT This is a so-called . You can use this NFT to send it to a different wallet, trade it on NFT Marketplaces or . 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.