
Insightful|Feb 18, 2025 16:05
How I'm using my dormant BTC to passively farm multiple airdrops simultaneously
By utilizing fBTC across various defi apps across Mantle to farm Sparks
Quick primer on fBTC
Incubated by @FunctionBTC (formerly @IgnitionFBTC)
https://x.com/Mantle_Official/status/1890066745538617390
Provides a liquid Bitcoin asset that is a 1:1 peg (essentially a WBTC competitor)
25+ integrations across 6 different chains
TVL is up only now at 1.3B
https://x.com/info_insightful/status/1847743897642185030
Significant player in enhancing Bitcoin's security resources through the activity generated by restaking.
Demonstrated by playing a crucial role in the recent, highly successful Cap3 initiative by Babylon.
https://x.com/IgnitionFBTC/status/1874816611791900824
How to position
Sparks Campaign = tokens for Ignitions upcoming TGE + compound play to farm other airdrops from partner protocols
There are 3 core ways to get involved
1/ Babylon Staking
Stake FBTC into various protocols
PumpBTC, Pell, Satlayer, and Bedrock are all still tokenless
Bedrock (deposit fBTC for uniBTC) is likely somewhat close to TGE, but has many good integration / compound play options like Mitosis or Satlayer
Pell is "meh' for me so far = minimal exposure
Satlayer followed by PumpBTC are the most promising appealing for me right now
2/ Liquidity Pools
Providing liquidity in various FBTC pairs
For yield I like the pairs on Merchant Moe/ Mantle the best
If you want to farm spice/points on BOB network Oku is a good option
3/ Money Markets
Utilize various borrowing and lending protocols
There are a few options here
I like INIT currently the best for 2 reasons
Tokenless - although will likely be worth dust
Ability to use looping hook = easy to loop and unwind
Neutral FBTC looping hook is ideal
(providing fBTC borrow WBTC swap WBTC for fBTC , redeposit to borrow more and repeat)
Can get 4-12x sparks (highest possible options) = most capital "efficient"
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