In light of recent developments in the custodial arrangement of WBTC, many users are looking for a more decentralized alternative. tBTC offers a decentralized, transparent, and secure option for those holding Bitcoin.
With a prize pool of $150,000 and a daily $500 raffle—users who swap their WBTC for tBTC and hold it for 4 weeks will be eligible to earn their share. Plus, all gas and swap fees will be reimbursed retroactively. Join the movement to decentralize WBTC and secure your place in the rewards pool.
#Step-by-Step Guide: How to Swap WBTC to tBTC
1. Sign the Pledge to Save WBTC
Before you begin the swap process, you must sign the Save WBTC pledge. This is part of the movement to raise awareness about the risks of WBTC's centralization. By signing the pledge, you become eligible for the rewards campaign. You can sign the pledge here.
2. Migrate to tBTC Using wbtc.party
Once you’ve signed the pledge, head over to wbtc.party to initiate the swap. The platform will guide you through the steps to convert your WBTC into tBTC. Ensure your wallet is connected and that you have sufficient WBTC for the swap. All gas and swap fees will be covered retroactively, so there’s no need to worry about out-of-pocket costs for this process.
3. Hold tBTC for at Least 4 Weeks
To be eligible for rewards and to have your gas and swap fees reimbursed, you’ll need to hold your tBTC for a minimum of 4 weeks. This is essential to participate in the $150,000 reward pool. During this period, your wallet holding tBTC will be tracked to ensure compliance with the holding period.
4. Retroactive Reimbursement of Fees
All gas and swap fees incurred during the migration from WBTC to tBTC will be covered retroactively. After the 4-week holding period, users will receive these reimbursements in tBTC, along with any rewards earned from the pool.
#Key Points to Remember:
- Eligibility: To be eligible for rewards, you must hold tBTC for a minimum of 4 weeks.
- Fees: All gas and swap fees will be reimbursed retroactively in tBTC.
Ready to make the switch? Join the movement and save WBTC by migrating to tBTC today.
