LEGAL DISCLAIMER
The information presented in this blog is not financial or legal advice. It is for informational purposes only. Trade, transfer and hold cryptocurrencies at your own risk and after conducting your own due diligence. The author is not liable for any losses incurred. User is responsible for their own actions regarding cryptocurrency trades, transfers and storage, all of which can carry significant risk of loss. It is advised to check local, national and international laws before trading cryptocurrencies.
Well it’s been an interesting month my dudes. Just under a month ago our network hash rate was around 4gh/s and then it skyrocketed to over 1000+ gh/s.
During this time our Discord community has grown faster than ever before and we’re now starting to see new projects from community developers. Here’s a great example of that.
What does the future hold for oBTC? I’m not 100% sure, but the future looks almost as bright as the light from optical processors! Let’s review.
To start with the rumors are true. Optical Bitcoin is being wrapped to Binance Smart Chain on 12.15.21. This wrap will be a 1:1 exchange rate. A dedicated website will be set up to swap from oBTC to WoBTC. You’ll also be able to easily swap back from WoBTC to oBTC.
The benefits of wrapping to these two lower energy proof of stake networks are tremendous. The biggest being exposure for the oBTC project and optical proof of work mining. At the same time, it’s being done with minimal energy usage added (ETH would not have made sense for this reason).
With this wrap comes other DeFi benefits such as exchanges. Pancake Swap for the BSC wraps and later for Trader Joe for the Avalanche wraps among others. On 12.15.21 you should be able to buy and sell WoBTC on Pancake Swap.
In order to gain liquidity, a DeFi yield farming service will be running farming rewards for the community. People who provide liquidity on the BSC chain will receive farming rewards in WoBTC (we’re working out details for Avalanche, so no promises until finalized). Details soon!
To help fund these farming rewards a new wallet address has been established: bc1qfarmgfundt2rtktudjnv8rjnjw4ej4h3hmksf6.
The Dude has personally donated 2,500 oBTC to this farming fund address. Anyone who cares to donate oBTC is encouraged to do so, please feel free to make a donation of what you can.
In addition, thanks to the donation of time and resources from RxRat; a new farming fund mining pool and website has been established at oBTCFarmingFund.com.
This pool does have a 10% farming fund fee for miners. 100% of the fees raised will go directly to the farming rewards. To add a layer of separation from myself, Parker of RxRat holds the wallet key and will transfer on all the rewards on 12.15.21 to the farming website.
Speaking of a new website, Kazumi the team member in our oBTC Discord group has agreed to co-launch a new website with the community.
PoWx has voiced their preference for the oBTC community to remain distanced from the hardware team at PoWx (for lack of better words, a separation of church and state). This new website will allow that, but also bridge the gap.
We will both be admins on the website and work together to provide more in-depth details to developers looking to help, but more importantly easy to understand details about oBTC and optical mining to reach a broader audience of everyday people.
In the coming days new bounties The Dude has established will be revealed such as a 10,000 oBTC bounty for a tokenizable smart contract to be implemented on oBTC in the future.
A lot of marketing and guides are currently being set up to launch on 12.10.21. The marketing campaign will start on DeFi websites then and run until at least 12.15.21.
That’s all for this day. Tomorrow a calendar of events, a couple of how-to guides and a “promotional video from out of this world” will be released.
