Curious how BIT10 tracks the price of underlying assets and calculates the BIT10 token value? π€
We use ICP's HTTPS outcalls and the Exchange Rate Canister (XRC) to keep everything up-to-date. ππ @DFINITYDev@dfinity
By leveraging XRC on ICP, a decentralized network, we ensure greater trust and transparency compared to traditional centralized services. ππ
#icpΒ #defiΒ #bitcoin
More users for our Testnet incoming!!!πππ
We're opening up Testnet access to more users
Link belowβdon't miss out; it wonβt be open for long!πππ
BIT10 is the S&P 500 of Bitcoin DeFi. We create index funds for the Bitcoin ecosystemπ§π§π§
Weβve 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.π§π§π§
@DFINITY@DFINITYDev #ICP #ICPgrant #InternetComputer
GM everyoneπ§
We are excited to announce that our new website is now LIVE! π«‘π«‘π«‘
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 wellπͺπͺπͺ
We have a video showcasing our Testnet tooπΈπΈπΈ
one more thing..........
More signups to our Testnet...........
Bitcoin TVL is only 1% of the Entire market compared to Ethereum's 61%π―π―π―
As Bitcoin TVL rises, expect massive innovations and a surge in DeFi projects!!!πππ
This shows how early we are in this space and the huge opportunities as well.πππ
BIT10 will make a splash in this big pond too by creating Index Funds for the masses on Bitcoin.
Let's get itπππ
If you were the lucky ones to use our Testnet you'd know, we've used ICP to build BIT10.ππππ
We just used ICP's ICRC1&2 token standard and HTTPS outcalls, as well as using the canisters to store the underlying assets.π¦π¦π¦
@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/AichjSYbBNπ¦
Should you buy an index fund that is too concentrated? Should you buy an index fund that is already at its highest ever?π€π€π€
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 weekendπͺ πͺ πͺ
Wanted to let everyone know, we had well over 500 Sign-ups for our Testnet and now we're onboarding all our usersπ«π«π«
If you did Sign-up please check your Email and you can begin using our Testnet straight away.
ποΈποΈποΈ
So far our Network is coping well, so we'll soon allow everyone to start using the Testnet.
π€ π€ π€
In the meantime, the Gitbook is a great read.
πππ
We sent out the Emails to everyone who's signed up for our Testnetπππ
The signup Page was live for 2 months and it's now closedπππ
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 outπππ
For now everyone has access to our About page where there is a link to the Gitbook, that has information on everything BIT10πͺπͺπͺ
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 enoughπππ
From Zeya and Harshalπ«‘π«‘π«‘
WE ARE OFFICIALLY ON TESTNET.π₯π₯π₯
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!!!π₯π₯π₯π₯π₯π₯
14th of June 2024 9am PSTβ³β³β³β³
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.πππ
Super duper excited for everyone to finally use it and test it outπππ
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 buildingπ₯π₯π₯π₯π₯π₯π₯π₯
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 itπ€π€π€π€π€