Cardano liquid staking rewards for...Bitcoin (
$BTC)?
This is possible. Phase 1
@btc_karma supports any combination of Cardano native tokens that can be distributed within a "reward basket" for Bitcoin multi-utxo "accounts".
For instance: Stake Bitcoin. Earn
$SNEK,
$HOSKY,
$KARMA, and
$ADA.
$KARMA rewards are live.
How would liquid staking rewards work?
A large ADA holder could allocate ADA to match the value of Bitcoin TVL, stake that ADA, and distribute the staking rewards to BTC stakers instead of keeping those rewards for themselves. We need new blood in the Cardano ecosystem. That's what the remaining incentives are for imo....not to pay founding entity overhead while the community suffers.
We asked a large ADA holder on Cardano whether they would be willing to do this. Let’s just say the response wasn’t enthusiastic. I don't think I've ever heard a group of northern Europeans laugh so hard. 🤷♂️
But the community doesn’t need the founding entities to simply use what’s already live. This is essentially a gift to Cardano from our team. We hope you use it, appreciate it.
Is the community willing to try products that can attract new users and capital, or are we going to keep sitting on our hands and waiting for “mom and dad” to rescue us?
Builders can’t carry adoption alone with limited resources and support. We need the community to participate too.
We’ve built a straightforward way to stake Bitcoin and earn
$KARMA while growing Cardano’s Bitcoin TVL.
Got Bitcoin? Try
btckarma.io. Don’t have any? Share it with someone who does.
If we want adoption, we have to help create it. Expecting underresourced/undersupported builders to give your
$ADA value while you sit on your hands is not realistic.
I’m not going to beg, but I am going to ask: use what we built. Share it. Help us bring new people in.
We’ve given Cardano another way to attract Bitcoin holders. Turning that opportunity into adoption takes all of us. 👍