FAQ

What is bfBTC?

bfBTC is BitFi protocol's real-yield bearing token that provides native BTC rewards for Bitcoin holders while enhancing liquidity in the Bitcoin ecosystem. Through BitFi quantitative strategies, bfBTC delivers continuous BTC rewards to its holders.

How does bfBTC work?

BitFi partners with Ceffu to custody user-deposited Bitcoin. Under multi-party supervision, these funds are deployed in BitFi's quantitative strategies to generate yields. The earnings are regularly updated to the bfBTC ratio (exchange rate), allowing users to accumulate yields once they exchange their BTC for bfBTC.

How can I deposit on Bitcoin Network?

For Bitcoin network deposits, start by connecting your Bitcoin wallet. Next, select your desired receiving network and connect your EVM wallet to complete the deposit. Please note that Bitcoin network deposits require 6 block confirmations (about 1 hour) before bfBTC is sent to your EVM wallet.

How can I deposit on EVM network?

For EVM network (Bitlayer or Binance Smart Chain) deposits. Just connect your wallet and make sure you have BTC(Bitlayer Native Token) or BTCB(BSC BEP20), along with enough gas fees for the network transaction.

How to withdraw to Bitcoin?

To withdraw, start by connecting your EVM wallet. Select 'Bitcoin' as your Receive network in the withdrawal section and connect your Bitcoin wallet to receive the funds. Please note that withdrawal requests require processing time. Once completed, you'll receive Bitcoin directly to your Bitcoin address while the bfBTC is burned.

How to withdraw to EVM network?

To withdraw, connect your EVM wallet and select BSC(Binance Smart Chain) or BTR(Bitlayer) as your Receive network. Please note that withdrawal requests require processing time. Once completed, your bfBTC will be burned, and you can claim your BTCB or BTC from the 'Claim' section.

Why is my received BTC amount different after withdrawal?

bfBTC's ratio(exchange rate) changes with each Epoch. Since withdrawals require processing time, the Epoch during execution may differ from when you initiated the request, causing a slight difference between your expected and actual withdrawal amount.

What is Epoch & Ratio?

An Epoch is the minimum timeframe between bfBTC exchange rate updates, which is currently 24 hours. The bfBTC ratio updates with each new Epoch. The Ratio indicates how much BTC you can receive for 1 bfBTC during the current Epoch.

What is Est. Rewards?

Estimated rewards are calculated based on the ratio difference between your deposit time and withdrawal request time. However, rewards from withdraw requests in Pending status are not included in Est. rewards, which may result in some differences from your actual rewards.