Question 1

What is BTC Proxy (BTCPX)?

Accepted Answer

BTC Proxy (BTCPX) is a tokenised representation of Bitcoin designed to operate across multiple blockchains, including Ethereum, Polygon, and Binance Smart Chain (BSC). Launched in 2021, BTC Proxy facilitates the decentralised tokenisation of Bitcoin, enabling its use in various DeFi applications while maintaining the security and value of the underlying asset.

BTC Proxy's platform uses a layer-two protocol that integrates with insured multisignature custodians. This ensures that tokenised BTC (represented as BTCPX) is fully backed by Bitcoin held in secure custody. This approach allows BTC Proxy to offer low-cost, gas-efficient, and seamless transactions across different blockchain networks without the typical issues of slippage and high fees.

Question 2

What is BTC Proxy (BTCPX) used for?

Accepted Answer

BTC Proxy serves several key functions within the digital asset ecosystem:

1. **Cross-chain Bitcoin Liquidity**:
   - **Tokenisation**: BTC Proxy enables users to convert their Bitcoin into BTCPX tokens, which can be used across Ethereum, Polygon, and BNB Smart Chain networks. This facilitates the integration of Bitcoin into these ecosystems, providing access to a wider range of DeFi applications.
   - **Gas Efficiency**: By operating on layer-two solutions and supporting multiple networks, BTC Proxy reduces the transaction costs associated with Bitcoin operations.

2. **DeFi Yield Opportunities**:
   - **Liquidity Mining**: Users can provide liquidity to the BTC Proxy ecosystem and earn rewards in BTCpx, enhancing their yield compared to holding Bitcoin directly.
   - **Staking and Farming**: BTCpx holders can participate in staking programs and liquidity mining to earn additional returns. These programs leverage the underlying value of Bitcoin to provide higher yields through DeFi protocols.

3. **Institutional-Grade Custody**:
   - BTC Proxy’s use of insured multisig custodians provides a secure environment for institutional investors to engage with Bitcoin in DeFi without compromising on the security of their assets.

4. **Flexible Financial Instruments**:
   - The platform supports various financial operations, including borrowing, lending, and trading, across its supported blockchains. This flexibility allows BTC Proxy to serve as a versatile tool for both individual and institutional users looking to maximise their Bitcoin's utility.


BTCpx	ERC20	ETH	0x9c32185b81766a051e08de671207b34466dd1021	2021-08-22
BTCpx	ERC20	POL	0x9c32185b81766a051e08de671207b34466dd1021	2021-08-22
BTCpx	BEP20	BNB	0x4fe46a37005360a8cc12431079c7bdf143e94f30	2022-10-21