Wrapping Btcz in an ERC-20 token

Dear BitcoinZ Community, I think we should focus our forces on growing the value of the coin as it is falling to all-time lows.
I think the crypto market is focusing on decentralized finance (Defy) and we should do the same to gain ground. I am not a specialist on the subject (the truth is that I do not have technical knowledge) but we should try to create an ERC-20 token that wraps Btcz with a parity of 1 to 1, that is, that a btcz is equal to the created token (from the same way as ETH with Weth).
That way we could use decentralized exchanges (uniswap, balancer etc) at no cost and we would have a greater volume in addition to making ourselves known to a greater number of people. Another advantage is that we would not change the current algorithm but we would gain more atomic swaps.
I await comments and people who are specialists to comment and comment.
Regards.

1 Like

I dont think we can do it this. Also the value 1:1 how is possible block? If the btcz in erc-20 have many trades will be more expensive becouse you can change whit other coins. Your btcz now you can sell only in crex24 at the moment at 0.000000005 and if nobody want buy the price can not go up. So I don’t think that another coin can help the price of this btcz coin. But happy that somebody understand the real situation that we have it.

Fox, I think you really misunderstood @matiman . He has a point. Try no to focus on the current value of BTCZ to sat. The reason people aren’t investing into BTCZ nowadays is because there is so much new stuff out, like DeFi. If BTCZ had a wBTCZ, that would be one more way it can be swapped and without KYC.

I made a similar proposal previously and a wBTCZ token has been in the talk.

How do we get it developed, who’s going to develop it and everything that goes along with making it happen is what we could focus some of our time on instead of turning down ideas.

We have too much invested in a 3 year old block chain which isn’t up to date as the code it was forked from. I don’t know much about those details either. But one thing I do know is the developers that we do have, I’m thankful for. We need more devs with the same amount of energy as our core devs have. Then we would be getting somewhere. Lets face it, we have 1000x supply of our predecessor BTC and we have a privacy address which is good. Now we need to work on being integrated with other blockchains so we can keep up with our competition. Having a wBTCZ is only another option for usability.

We’ve had quite a few good things within our community, such as TextZ, KioskZ, MinecraftZ and maybe some others which were great, but needed developing and development ceased.

In my opinion, and I’m speaking solely from my own beliefs and nothing more, we need to drive to reach out to as many people as possible if we want to keep up with this ever-evolving scene.

As far as having a wrapped BTCZ, we could use it for staking rewards, not from new blocks, but something similar to how we can stake BTCZ in Vidulum wallet and we’re rewarded every day. Where ever those funds come from, we could replicate this on ETH blockchain as a way to persuade users to hold instead of dump. Users funds could be staked together and held over a period of time earning interest while growing in market cap if miners aren’t dumping at low price.

-Just something to think about. There are a lot of possibilities that could be good or bad, but we’ll never know until we try.

2 Likes

I totally agree @Nucashmining !!!. Today there are tokens such as wbtc (Btc stablecoin) that came to light to access the benefits of Defi. I think it would be a good thing to do something similar with WBtcz and that way we would access a decentralized ecosystem with a lot of potential.

Hello

YES very good idea

How can we find funds for this project…
:grinning:

The developer members should first give their opinion on what they think. I have no technical knowledge but I see that several currencies including BTC have done it with WBTC, so I think it would be possible for us. Once they have an opinion and if they agree, a vote should be opened to use part of the Vaultz funds