JWLBTC

JWLBTC is a type of token that follows the liquid staking mechanism.

Unlike S/JWLEGLD and S/JWLUSD, JWLBTC does not have a second token representing the staked position (there is no SJWLBTC).

Minting

JWLBTC is a stable token that can be minted using BTC. JWLBTC is not growing in value and is always backed 1:1 by 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 out once per day at epoch change.

Unlike the other liquid-staking tokens, JWLBTC does not have a second token, representing the staked position (there is no SJWLBTC).

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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, in the case of Hatom) to generate yield.

Because of the difference in staked stable tokens to existing stable tokens, the APR for the staked tokens is typically higher.

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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 days (unbonding time).