CryptoMode Bitcoin Mining Illustration Poolin

On paper, the connection between Bitcoin and popular DeFi solutions is paper-thin. Although some projects exist, they are vastly overshadowed by Ethereum solutions. Poolin, the mining pool, has come up with a way to merge DeFi yield farming with Bitcoin mining.

Yield Farming With pBTC35A

Poolin provides access to many different cryptocurrencies as a mining pool where one can mine with a computer or dedicated hardware. It is a successful pool across many major networks, and the team intends to explore some unusual options. Creating a token backed by Bitcoin mining hashrate to create DeFi yield farming incentives is unique.  

The purpose of this setup is to create value for its mining token – backed by 1 TH/s of hash power – and allow traders to exchange it on the open market. The pBTC35A token has a current value of $112.5 and a supply of 200,000 tokens. That means Poolin has tokenized 200,000 TH/s of Bitcoin hashing power and one that does more than just “mine”.

Through the Mars Project, holders of the pBTC35A can either stake the asset to earn wBTC and MARS tokens. Another option is to add Uniswap liquidity, obtain LP tokens, and harvest wBTC and MARS. Sushiswap supports MARS as well.

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