The Decentralized Finance (DEFI) Protocol UMOJA has released a product that allows BTC (CBBTC) token holders to earn a 6% yield at the Network-2 base.
UMOJA has achieved its yield by taping a set of centralized and decentralized exchange techniques including covered calls and arbitrations, which involves buying a place in one place and at the same time selling it for a higher price elsewhere.
It noticed that the CBBTC was a wrapped token and not the Bitcoin (BTC) itself, it was a token that was back 1: 1 of Bitcoin held on Coinbase.
The UMOJA protocol supports a number of vault tokens (YVTS) yields that are -collateralized by cryptocurrencies (including the real world tokens).
One of the YVTs is YBTC, which is made -up once users deposit CBBTC in the protocol.
Taking a BTC harvest with the Defi techniques has become a controversial topic for Bitcoin maximalists, which generally oppose the Defi and Altcoins sector.
However, as BTC continues its sting from above $ 100k to April 7 of less than $ 74.8k, the investor’s request for achieving a harvest to ease against losses on the amount of area set to increase.
Japanese firm Metaplanet has Recently began to earn a harvest In Bitcoin by buying place assets at the same time the Put Options, then selling premium to put options as price drops.
