Curious how BIT10 tracks the price of underlying assets and calculates the BIT10 token value? 🤔
We use ICP's HTTPS outcalls and the Exchange Rate Canister (XRC) to keep everything up-to-date. 🌐🔍 @DFINITYDev@dfinity
By leveraging XRC on ICP, a decentralized network, we ensure greater trust and transparency compared to traditional centralized services. 🚀🔒
#icp #defi #bitcoin
More users for our Testnet incoming!!!🙌🙌🙌
We're opening up Testnet access to more users
Link below—don't miss out; it won’t be open for long!👇👇👇
BIT10 is the S&P 500 of Bitcoin DeFi. We create index funds for the Bitcoin ecosystem🟧🟧🟧
We’ve built our oracle canister to get the current price for BIT10 on ICP, and we're developing our BIT10 token using ICP's ICRC1 standards.
Plus, we're using ICP canisters to store both underlying assets and BIT10 tokens.🔧🔧🔧
@DFINITY@DFINITYDev #ICP #ICPgrant #InternetComputer
GM everyone🟧
We are excited to announce that our new website is now LIVE! 🫡🫡🫡
The S&P500 tracks the biggest companies in one ETF and our BIT10 token will track the biggest tokens, projects and protocols in Bitcoin DeFi in one token as well💪💪💪
We have a video showcasing our Testnet too📸📸📸
one more thing..........
More signups to our Testnet...........
Bitcoin TVL is only 1% of the Entire market compared to Ethereum's 61%😯😯😯
As Bitcoin TVL rises, expect massive innovations and a surge in DeFi projects!!!📈📈📈
This shows how early we are in this space and the huge opportunities as well.🚀🚀🚀
BIT10 will make a splash in this big pond too by creating Index Funds for the masses on Bitcoin.
Let's get it😎😎😎
If you were the lucky ones to use our Testnet you'd know, we've used ICP to build BIT10.🙏🙏🙏🙏
We just used ICP's ICRC1&2 token standard and HTTPS outcalls, as well as using the canisters to store the underlying assets.🏦🏦🏦
@DFINITYDev@dfinity
We first got introduced to the team when they gave a presentation for the @btcstartuplab and have had their developers help us to get to this stage
@cryptoschindler@radudeicp
Have a read of our Gitbook for more details on BIT10. https://t.co/AichjSYbBN🏦
Should you buy an index fund that is too concentrated? Should you buy an index fund that is already at its highest ever?🤔🤔🤔
The S&P 500 is both concentrated (the magnificent 7) and in 2024 has made over 30 new all-time highs.
But the answer to both questions is YES!!!
The reason is simple: you don't invest everything in one go; you invest periodically (weekly, monthly, quarterly). That is the key. Concentration usually doesn't matter in the long run. There have been many times when the concentration was far worse for the S&P 500 than today, and it was just fine. Over time the Market does it's thing.
Decentralized Index funds for Crypto(@indexcoop ) and Bitcoin DeFi(BIT10) will at some point face these two questions and the answers will remain the same.
THE MARKET ALWAYS WINS.
Hope everyone had a great weekend🪅🪅🪅
Wanted to let everyone know, we had well over 500 Sign-ups for our Testnet and now we're onboarding all our users🛫🛫🛫
If you did Sign-up please check your Email and you can begin using our Testnet straight away.
🖊️🖊️🖊️
So far our Network is coping well, so we'll soon allow everyone to start using the Testnet.
🤠🤠🤠
In the meantime, the Gitbook is a great read.
📖📖📖
We sent out the Emails to everyone who's signed up for our Testnet🏁🏁🏁
The signup Page was live for 2 months and it's now closed🔒🔒🔒
Our network seems to be coping well for those users so far, we'll let new users start using our Testnet very soon too so keep an eye out👀👀👀
For now everyone has access to our About page where there is a link to the Gitbook, that has information on everything BIT10💪💪💪
This is a big moment for us at BIT10 and we'd like to say thanks to some key figures who's helped us in our journey...............
@btcstartuplab@btc_albert@easya_app@kwok_phil@dom_kwok
There's even more people, wouldn't have been possible without you, can't thank you enough🙏🙏🙏
From Zeya and Harshal🫡🫡🫡
WE ARE OFFICIALLY ON TESTNET.🥂🥂🥂
If you managed to sign up on time, you can start using it straight away.
All the instructions and all the technical details are in the Gitbook.
Do have a read before using the Testnet.
DM us if you have any issues or @zeyathezeya@HarshalRaikwar6
HUGE NEWS!!!🥂🥂🥂🥂🥂🥂
14th of June 2024 9am PST⏳⏳⏳⏳
BIT10 will be released on Testnet and available to use for every user who has signed up.
There is still time to sign up but that sign up post will be unavailable by Friday,
Instructions on how to use the Testnet it will be Emailed to you so please make sure you sign up.
A little sneak peak is available on this picture in terms of how it will look.😀😀😀
Super duper excited for everyone to finally use it and test it out😀😀😀
Back to our home base in London.
Had an amazing time at Consensus2024 in Austin.
Met the amazing team beind the best pre-accelerator in the world @btcstartuplab and the main man behind it @btc_albert helping BIT10 massively and can't thank him enough.
Also met the team behind @VelarBTC and the CEO/founder @RainFire09 with an amazing event they hosted on Wednesday with @BitlayerLabs both teams making the Bitcoin Ecosystem easier to build on, trade on and many more features.
This space is still so young and we're glad we can be a part of it.
Let's keep building🔥🔥🔥🔥🔥🔥🔥🔥
Bitcoin and Brews with the heads of @Stacks and @rootstock_io@muneeb@danielfogg
Great insights into why Building on Bitcoin is the future.
@bit10startup Will play a small part on it🤝🤝🤝🤝🤝