The APY is as high as 580%! A comprehensive interpretation of Bido, the first Bitcoin staking protocol on BEVM that allows you to earn BTC

In the Bitcoin ecosystem, the hottest track right now, besides Bitcoin Layer 2, is the Bitcoin staking chain. Projects like Babylon, which has completed tens of millions in financing, and BounceBit, which has already started staking reward activities, are leading the way. However, currently, users staking BTC on these chains do not receive any actual benefits beyond the points promised by the project parties. But now, the Bitcoin staking protocol deployed on BEVM—Bido—has brought BTC Stakers an APY income of up to 580% after its launch, and the income is not some project token, but BTC! That's right, it's real BTC! This is not only the first time for a Bitcoin staking protocol, but even a first in Bitcoin history. Bido allows BTC Holders to earn more BTC through staking, just like ETH Holders. 1. What is Bido? Bido is a Bitcoin staking protocol deployed on BEVM, where users can stake BTC to support the operation of BEVM network nodes, thereby enhancing the security of the BEVM network. As a result, BTC Stakers can earn GAS rewards generated by the operation of the BEVM network. Currently, 50% of the GAS revenue generated by the entire BEVM network is directly distributed to Stakers who stake BTC on Bido. Bido to BEVM is like Lido to Ethereum. Users staking ETH on Lido can earn more ETH, with an average APR of 4.6%. Bido officially launched on BEVM on March 31, 2024, allowing users to stake BTC on Bido to earn more BTC, with a current APR of 534%. Similar to Lido, the BTC earned by Stakers on Bido comes from the GAS revenue generated by the operation of the BEVM network, so as long as the BEVM network continues to operate, Stakers' earnings will be sustainable. Moreover, the more prosperous the BEVM ecosystem, the more earnings Stakers will receive. 2. How to play with Bido? The gameplay of Bido is very simple. Go to Bido's official website: https://app.bido.finance, and stake your BTC assets to enjoy an annualized return of up to 534%. However, if you have not yet cross-chain your assets to BEVM, you need to complete the cross-chain first. The BEVM official provides two ways to cross-chain BTC to BEVM: BEVM official cross-chain bridge: https://bevm.io/bridge-mainnet; and the third-party cross-chain bridge OmniBTC: https://app.omnibtc.finance/swap; For large assets, it is recommended to choose the official cross-chain bridge for greater safety and reliability, with a cross-chain arrival time of about 30 minutes. For small assets, you can choose the third-party cross-chain bridge OmniBTC, which supports one-click conversion of assets from chains like arb, bsc, etc., into BTC on BEVM, making it convenient and fast. Once the cross-chain is completed, you can directly stake and start enjoying the earnings. After staking BTC, Stakers will receive stBTC, which is completely pegged 1:1 to BTC. The BTC earned from user Staking rewards will be presented in stBTC, meaning that as network rewards are distributed, the amount of stBTC in the user's account will continuously increase. If users want to unlock more gameplay on Bido, they can choose to warp stBTC into WstBTC with one click. Holding WstBTC not only allows users to continue enjoying Staking rewards but also unlocks more advanced gameplay. 3. What advanced gameplay does Bido offer? After users obtain WstBTC on Bido, they can not only continue to enjoy Staking rewards but also unlock more other earnings. 1. Use WstBTC to mint stablecoins, unlocking more liquidity while enjoying dual benefits. The Satoshi Protocol, which has already launched on BEVM, is a CDP protocol that supports minting stablecoins using BTC and WstBTC. Users can mint stablecoin SAT using WstBTC, and holding SAT allows users to continue participating in investments in other projects. Moreover, currently, using WstBTC to mint stablecoin SAT also allows users to receive airdrops of Satoshi Protocol tokens. The Satoshi Protocol recently announced the completion of its Pre-Seed round of financing, led by Web3port and Waterdrip, with participation from MH Ventures, BSCN Co-Founder, and other institutions and angel investors. Staking rewards + Satoshi Protocol token airdrop = dual benefits. 2. Add WstBTC/SAT LP in DEX for triple benefits. Currently, the Satoshi Protocol encourages users to add WstBTC/SAT LP in DEX. After obtaining LP Tokens, users can stake them in the Satoshi Protocol to receive additional token airdrops from Satoshi Protocol. Meanwhile, LPs can also receive token airdrops from DEX. Staking rewards + Satoshi Protocol token airdrop + DEX token airdrop = triple benefits. 3. ReStaking of WstBTC/SAT LP Tokens. When users stake WstBTC/SAT LP Tokens in the Satoshi Protocol, they will receive SLP Tokens. While receiving Satoshi Protocol token airdrops, they can also re-stake SLP Tokens in the re-staking protocol on BEVM to receive airdrops from the re-staking protocol. Staking rewards + Satoshi Protocol token airdrop + DEX token airdrop + ReStaking rewards = quadruple benefits. Of course, if you want to unlock more advanced gameplay, you can continue to earn other rewards on protocols like Aggregator, etc., which will not be elaborated here. I believe that as BEVM continues to develop, the Staking rewards on Bido will gradually stabilize like Ethereum, and at that time, stBTC on BEVM will become a stable income-generating asset like stETH. Various fixed-income derivative protocols based on stBTC will continue to emerge, such as interest-bearing bond protocols and principal-separation protocols based on stBTC, etc. 4. What future scalability does Bido have? Bido is currently primarily deployed on BEVM and prioritizes serving the BEVM network. Moreover, Bido can serve any Bitcoin Layer 2 network in the future. At least, BTC Layer 2 built on the BEVM-Stack can first use the BTC staking services provided by Bido. Furthermore, all BTC Layer 2 can share network security based on the large amount of BTC staked on Bido. At that time, Bido will develop into a BTC staking security-sharing protocol serving all BTC Layer 2 networks. This will greatly promote the secure development of the BTC Layer 2 track and the overall development of the Bitcoin ecosystem.