Real Mining Asset
  • Real Mining Asset
    • Abstract
  • Introduction
  • Mission & Vision
  • Chllenge & Solution
  • Core Features
  • How Real Mining Asset Works
    • Pooling GPU Resources
    • Mining Bitcoin Blocks
    • Integrating Mining Rewards
  • RMA vs. Personal Mining
  • Tokenomics
  • Roadmap
  • Frequently Asked Questions
  • Our Community
    • Website
    • Twitter
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  1. How Real Mining Asset Works

Integrating Mining Rewards

Step 3: Integrating Mining Rewards onto Binance Smart Chain (BSC)

  • Conversion to Wrapped BTC (WBTC on BSC): Mined Bitcoin can be converted into Wrapped BTC (WBTC), a BEP-20 token on the Binance Smart Chain, pegged 1:1 to the value of Bitcoin.

  • The WBTC Gateway & Minting Process: Miners deposit their BTC into a secure WBTC gateway. Upon confirmation, an equivalent amount of WBTC tokens is minted on the BSC blockchain, backed by the reserved BTC.

  • Unlocking DeFi on BSC with WBTC: These WBTC tokens can then be used in various DeFi applications on BSC – decentralized exchanges, lending platforms, yield farming, etc.

  • Redemption and Withdrawal Flexibility: Miners can redeem their WBTC tokens back to native Bitcoin at any time by burning the WBTC, which releases the underlying BTC.

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Last updated 16 days ago