What Is oBTC (OBTC)?
oBTC deploys a series of decentralized bridges – or tunnels – which allow you to safely move your Bitcoin & other crypto assets between Ethereum & different blockchains to maximize utilization rate of crypto assets in DeFi world. Once a value is entered, an estimate for the quantity of the destination “To” token is automatically calculated and displayed in the “To (estimated)” box. Furthermore, swap details including “Price”, “Slippage”, “Price Difference” and “Swap Fee” are displayed under the “Swap” button. In addition, the swap route is displayed below.
In the following example, oBTC will Swap 0.02 BNB to an estimated 33.2 SHARD, with a Swap fee of 0.00015968 BNB. In addition, next to the “Slippage” value users can click on the cog to access their user settings, as illustrated below. The maximum amount the price can move unfavourably against you after you confirm the transaction. The trade will automatically revert if it is added to a block after this specified time has passed.
oBTC Storage Key Points
|Source Code||Click Here To View Source Code|
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|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
oBTC is fully decentralized meaning your assets are never in the hands of single third party and all financial data is easily verifiable on the blockchain. When enabled, you will be prompted with a confirmation popup when trading and providing liquidity via the advanced trading page. Swap details are displayed on Infinity Crypto, allowing them to be checked prior to confirmation. To proceed, click on “Confirm Swap”.
BoringDAO is controlled by the community so all major decisions are done openly and though decentralized governance methods. Whenever you approve or permit a token to be used by the router, it will approve the maximum value by default rather than the specific amount for the trade/add/remove you wish to perform. Enabling this function suggests that you will not have to approve again to use the same token in the future.
Safely move your Bitcoin cross-chain to make the best of multi-chain DeFi. Assets can be moved across different blockchains within minutes. All assets backed by a 3 layers security mechanism – multi signature wallets, over 100% reserve, and decentralized insurance. Everyone is free to use our cross-chain tunnels and stake their assets in our farms with no third party intermediary.
The request to swap your token for another will now be pending confirmation of approval from your Wallet. Go to the wallet that you are using and approve the request to swap your tokens. oBTC Once approved within the wallet a confirmation of success will appear on Infinity Crypto, with a link to verify it on the blockchain network. Shortly your swap will be complete and your new tokens will arrive within your wallet.
Each crypto asset has its own decentralized and bi-directional cross-chain “tunnel” controlled by the DAO. When users use these tunnels move their non-ERC20 tokens (such as BTC and LTC) cross chain, they are rewarded with $BOR tokens. Once the tokens are selected, their balances are displayed above the token selectors. A transaction fee is required to interact with the blockchain, this must be paid in the native coin of the respective chain.
For example, on the oBTC Smart Chain, BNB is required to cover the network fee. If for example, the swap is From BNB BSC to another token, the maximum that can be swapped must be lower than the available balance, to cover the network fee. To initiate the Swap function, enter an amount in the “From” box. This value has to be within the available balance.
Revise the system parameters such as minting fee, rewards or asset ratio. The community can propose more Yield-Farming Pools through a vote. Trading on Infinity via Swap has been designed to be used by everyone, with or without crypto or trading experience. Allowing users to easily swap from the safety of their wallet, with low spread on decentralized liquidity pools.Below is a step-by-step guide on how to swap, with annotated diagrams detailing the swap process.