Acre's liquid staked Bitcoin, stBTC, is live on Mezo

Disclaimer: This feature is no longer live. Please see https://blog.mezo.org/your-guide-to-redeeming-stbtc-deposits/ for more details on how to redeem your stBTC positions.

Earlier, we shared our bold vision of bringing staked Bitcoin to Mezo. That vision has become a reality today—stBTC is officially live for minting on Mezo.

stBTC allows you to be as capital efficient as possible, putting liquidity back in your hands while you still earn your mats.

Mint stBTC against your existing tBTC and WBTC deposits to get an “early unlock” of your Bitcoin in Mezo. Then, use your stBTC in BitcoinFi applications or swap for more tBTC to deposit into Mezo and superstack your mats.

However you choose to use your stBTC, your BitcoinFi journey has officially begun.

Below is the stBTC minting flow:

BitcoinFi in Its Purest Form

stBTC, powered by Acre, is liquid staked Bitcoin. It is fully composable across DeFi and BitcoinFi, allowing you to earn rewards while maintaining your full exposure to BTC.

As early HODLers, many of us have watched our Bitcoin grow in value over the years. But we've also watched DeFi unfold, often feeling like we had to choose between holding our Bitcoin and participating in these new financial opportunities.

With stBTC, you get it all.

How to Mint stBTC on Mezo

Ready to unlock the power of stBTC? Here's a simple guide to minting stBTC using your tBTC and WBTC deposits on Mezo:"

1. Deposit or Leverage Existing Locks:
   If you already have locked deposits, you're ready to go and can mint stBTC directly against them. If you're new to Mezo, deposit your tBTC into the Mezo portal. Haven’t minted tBTC yet? Mint it here.
2. Navigate to the stBTC Tab:
   The stBTC tab, newly added to the Mezo Portal, will guide you step-by-step through the minting process.
3. Mint Your stBTC:
   You can view your deposits and key details on the mint page, such as the annual minting fee and the total mintable amount.

Superstack Your Earnings on Curve:
Once you mint stBTC, you can provide liquidity to the Curve tBTC/stBTC pool to receive Curve LP tokens. Deposit those tokens back into Mezo to earn 10% more mats than with BTC deposits alone. Curve LP tokens + mats + sats = Superstacked mats.

The Curve pool allows for smooth, low-slippage, and efficient trades. Arbitrageurs balance the pool whenever there is a price discrepancy, maintaining stability.

As more Bitcoin flows into this system, the ecosystem grows stronger, more liquid, and more attractive to users and developers. It's a virtuous cycle—more participants lead to more innovation, which attracts more participants, and so on.

Why stBTC?

• Unlock Value: stBTC lets you unlock up to 90% of your locked deposit value on Mezo. This means you can engage in BitcoinFi activities without compromising the security of your Bitcoin.
• Composability: You can use your stBTC across various DeFi platforms, from liquidity pools to collateral in lending protocols.
• Non-Rebasing: Unlike rebasing tokens that adjust your token balance, the number of stBTC tokens you hold remains constant while their value appreciates.
• Putting your BTC to Work: The integration with Curve and the rest of the DeFi ecosystem ensures that your Bitcoin can stay active in the markets, maximizing your rewards while keeping your assets within the safety of BitcoinFi.
• Variable Minting Fee: The annual minting fee can be adjusted to prevent scenarios like economically trapped deposits, where the value of stBTC increases relative to tBTC. This fee rate starts at 2% for tBTC and 3% for WBTC.

Bonus mats Galore

Minting and using stBTC is the best way to earn Mezo's magic satoshis, or "mats." There is a 30,000 mat bonus for minting stBTC and a 10% daily mat premium on the crvstBTC LP tokens deposited back into Mezo. See our docs for specific details.

These are the requirements to be eligible for the 30,000 mat mint bonus:

• Minimum mint amount of .005 stBTC
• Mint before September 30th to qualify
• One bonus per individual tBTC/WBTC deposit
• Bonus applied linearly: 15k mats for 0.5 stBTC mint, 3k mats for 0.1 stBTC mint, and so on.

Curve LP tokens:

• Base score of 1,100 per 1 BTC worth (10% premium over regular BTC deposits)
• Trading fee yield for the pool accumulates to the LP tokens (the user automatically gets this benefit when depositing LP tokens back in Mezo)

*Bonuses may take time to appear in the UI. Follow us on Twitter to be updated when the bonuses are viewable on your score page.

What’s Next?

Our journey with stBTC is just beginning. The future of BitcoinFi is here, and it's time for your Bitcoin to work as hard as you do. Whether you're a seasoned hodler or new to DeFi, stBTC powers you to be more flexible with your BTC.

Don't let your BTC sit idle – Start staking now and play an active role in shaping the future of BitcoinFi with Mezo

Links

👾 Discord: https://discord.mezo.org

🕊 X: https://twitter.com/MezoNetwork

🏦 Deposit Portal: mezo.org/hodl

ℹ️ Docs: https://info.mezo.org/stbtc