Swingby launches sbBTC yield farming to unlimit Skybridges volume

Helping to improve the network

The sbBTC yield farming contract is more than just a liquidity incentive. It helps to improve the capacity and volume of the bridge by incentivizing the float to remain equally balanced.

Dynamic reward APR

The new yield farming contract aims to solve the liquidity pool issue by offering a dynamic APR that is based on Skybridges float. If the float is unabalanced (i.e more BTC that WBTC), the yield farming APR will be normal, but if the float is balanced (i.e BTC is equal to WBTC) then the APR will be much higher. This interesting mechanic will help to incentivize network participants to add liquidity to the unbalanced side of the bridge.

How to use it

First, head to the Skybridge pool page in order to add BTC or WBTC to Skybridge as liquidity. Once you have done that, sbBTC tokens will be sent to your Ethereum address in exchange.

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Swingby Protocol

The fastest protocol for cross-chain swaps, allowing DeFi users to move assets between blockchains without the need for a trusted party. https://swingby.network