Huobi BTC (HBTC) and renBTC (RENBTC) are now available on DeFi Swap—the best place to swap and farm DeFi coins. Liquidity Providers are rewarded with Swap Fee Sharing and are able to boost their yield by up to 20x when staking CRO.
Huobi BTC (HBTC), launched by Huobi Global, is a tokenised version of BTC that is deployed on the ETH network. Backed by 100% BTC, it can be used to participate in the decentralised ecosystem and add high-quality liquidity to the DeFi market. Moreover, since HBTC is supported by the ETH network, it incurs lower trading fees and allows for faster trading speeds.
Also fully backed by Bitcoin at a 1:1 ratio, renBTC is an ERC-20 token that is part of the REN protocol, specifically the Ren Virtual Machine (RenVM) product. RenVM brings interoperability to the DeFi market. It is a decentralised and permissionless custodian that enables the transfer of digital assets between any blockchain. When users send BTC to RenVM, RenVM takes the BTC, stores it in a network of decentralised nodes, and mints 1:1 renBTC on the ETH network that can then be used in the DeFi space. Watch our recent AMA with REN’s COO, Michael Burgess, to learn more.
Huobi BTC (HBTC) and renBTC (RENBTC) will join the growing list of tokens on DeFi Swap, which includes TrueFi (TRU), Curve DAO Token (CRV), AAVE (AAVE), NEST Protocol (NEST), REN (REN), UMA (UMA), Swerve (SWRV), Harvest Finance (FARM), Uniswap (UNI), Wrapped Bitcoin (WBTC), Yearn Finance (YFI), Ethereum/Wrapped Ether (ETH/WETH), Tether (USDT), USD Coin (USDC), Dai (DAI), Chainlink (LINK), Compound (COMP), and Crypto.com Coin (CRO).
Start swapping, farming, and staking now.
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