Depositing

A step-by-step guide to depositing your Bitcoin into the Bitcoin Yield protocol. This page walks you through the entire process, from connecting your wallet to receiving stBTC tokens, with clear instr

Depositing your Bitcoin into Bitcoin Yield is a straightforward process that allows you to start earning yield on your BTC holdings.

Deposit Process

Follow these steps to deposit your Bitcoin:

1. Connect Your Wallet

   • Visit the Bitcoin Yield application - https://yield.botanixlabs.com/

   • Click "Connect Wallet"

   • Select your wallet provider from the available options

   • Complete the connection process in your chosen wallet

2. Access the Deposit Tab

   • Navigate to the "Deposit" tab in the main interface

   • You'll see your current wallet balance and your staked balance

3. Enter Amount

   • Specify the amount of BTC you wish to deposit

   • The interface will show you an estimate of how much stBTC you'll receive

4. Review & Confirm

   • Review the transaction details, including:

     • Amount of BTC to deposit

     • Estimated stBTC to receive

     • Estimated transaction cost

   • Click "Deposit" to proceed

5. Sign Transaction

   • Your wallet will prompt you to sign the transaction

   • Review the details in your wallet and confirm

6. Wait for Confirmation

   • The interface will show a pending status

   • Wait for 2 blockchain confirmations to complete the process

7. Receive stBTC

   • Once confirmed, you'll receive stBTC tokens in your wallet

   • These tokens represent your staked position and will increase in value over time

What Happens Behind the Scenes

When you deposit Bitcoin, the protocol executes several steps:

1. Your Bitcoin is securely locked in a smart contract

2. The protocol mints an equivalent amount of pBTC (pegged BTC) as an intermediate token

3. This pBTC is automatically swapped for stBTC, which is what you receive in your wallet

As a user, you only see your BTC being locked and stBTC arriving in your wallet. The intermediate steps happen automatically within the protocol.

Deposit Tips

• Start Small: If you're new to the platform, consider starting with a small amount to familiarize yourself with the process

• Gas Fees: Be aware that each transaction requires a small amount of BTC for gas fees

• Confirmation Time: Transaction confirmation times are typically about 10 seconds

• Exchange Rate: The exchange rate between BTC and stBTC is dynamic and reflects the accumulated yield in the protocol

Your deposit is now complete, and your Bitcoin will start earning yield immediately.