{"id":21496,"date":"2025-04-10T13:02:39","date_gmt":"2025-04-10T13:02:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21496"},"modified":"2025-04-10T13:02:39","modified_gmt":"2025-04-10T13:02:39","slug":"wrapped-btc-holders-can-now-secure-6-apy-on-base-via-umoja","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21496","title":{"rendered":"Wrapped BTC Holders Can Now Secure 6% APY on Base via Umoja"},"content":{"rendered":"<div>\n<p>Decentralized finance (DeFi) protocol Umoja has released a product that allows Coinbase wrapped BTC (cbBTC) token holders to earn a 6% yield on layer-2 network Base.<\/p>\n<p>Umoja achieves its yield by tapping into a range of centralized and decentralized exchange strategies including covered calls and arbitrage, which involves buying an asset at on one venue and simultaneously selling it for a higher price on another venue.<\/p>\n<p>It&#8217;s worthing noting that cbBTC is a wrapped token and not bitcoin (BTC) itself, it is an erc20 token backed 1:1 by bitcoin held at Coinbase.<\/p>\n<p>The Umoja protocol supports a number of Yield Vault Tokens (YVTs) collateralized by cryptocurrencies (including real world asset tokens).<\/p>\n<p>One of those YVTs is yBTC, which is minted once users deposit cbBTC on the protocol. <\/p>\n<p>Acquiring a yield on BTC using DeFi strategies has been a controversial topic for bitcoin maximalists, who are generally opposed to the DeFi sector and altcoins. <\/p>\n<p>However, as BTC continues its plunge from above $100K to the April 7 low of $74.8K, investor demand for achieving a yield to mitigate against spot value losses looks set to increase.<\/p>\n<p>Japanese firm Metaplanet has <a href=\"https:\/\/bytebridge.medium.com\/metaplanets-bold-bitcoin-strategy-report-34e49808edb1#:~:text=Metaplanet%20generates%20revenue%20through%20the,are%20exercised%20at%20favorable%20prices.\" target=\"_blank\">recently started to earn a yield<\/a> on bitcoin by purchasing spot assets at the same time as put options, then selling premium on put options as price slumps.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Decentralized finance (DeFi) protocol Umoja has released a product that allows Coinbase wrapped BTC (cbBTC) token holders to earn a 6% yield on layer-2 network Base. Umoja achieves its yield by tapping into a range of centralized and decentralized exchange strategies including covered calls and arbitrage, which involves buying an asset at on one venue [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-21496","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21496"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21496\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}