Ren announced first stable pool of BTC on Polygon with Curve

Ren Protocol announced last Wednesday, June 16, through its Twitter account, the first stable group of BTC in Polygon with Curve Finance. According to the company, users can start earning performance with BTC on Polygon now.

La imagen tiene un atributo ALT vacío; su nombre de archivo es Ren.jpg
Image about the Ren Protocol post on Twitter

“Stable pools of peer assets have proven to be the foundation for BTC’s performance across all of DeFi, as well as providing some of the most liquid BTC markets in the world today, all without the need for centralized exchanges. They serve as the infrastructure for yield growing strategies, vaults, and products like Badger Bridge. Therefore, all three teams are eager to see what is built in the coming months, since all of this can be done at a fraction of the cost with Polygon”, he said through an article published on the Medium platform.

Additionally, the company indicated that this group addition at Polygon uses Aave for additional performance in WBTC, which will only further bolster the compounding capacity and performance potential for BTC products across Polygon. So, if you are already an Aave user on Polygon and you already have amWBTC, you can now deposit your amWBTC in the Curve BTC pool for additional performance.

Also read: Fortube has obtained a grant from Solana

BTC deposit in Curve

The company shared the steps that the user must take to make a BTC deposit in Curve Finance:

• Use RenBridge to match $ BTC to $ renBTC on Polygon.

• Deposit renBTC in the Polygon Curve group.

• Begin to gain performance.

About Polygon

It is the first well-structured and easy-to-use platform for Ethereum infrastructure development and scaling. Its main component is Polygon SDK, a flexible and modular framework that supports the construction and connection of secure chains such as Plasma, Optimistic Rollups, zkRollups, Validium, etc., and independent chains such as Matic POS, designed to offer flexibility and independence. Polygon scaling solutions have seen widespread adoption with over 350 Dapps, ~ 121M txns, and ~ 1M + unique users.

About Curve Finance

Curve creates deep chain liquidity using advanced linkage curves.

About Ren Protocol

It is an open protocol that allows the movement of value between blockchains.

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