"Botanix, founded in 2023 at Harvard by Willem Schroé, operates as a Bitcoin Layer Two protocol or sidechain similar to the Liquid Network and Rootstock - but with some novel differences, including the use of more modern scripting tools in Bitcoin, the sharing of network fee revenue with stakeholders and a federation of 16 node operators as its custody foundation."
"Taking a similar, conservative approach to yield, Botanix has set up its new stBTC token to earn 50% of all transaction fees paid on the Botanix network, paying its stakeholders from the economic success of its ecosystem and integrations across the industry. Today, stBTC boasts a 34% yearly APR, though Schroé explained that this is because of an accumulation of undistributed rewards from its prelaunch; he expects the APR on stBTC to stabilize around 5-6% in the future."
Botanix Labs launched stBTC, a one-to-one backed bitcoin asset that redistributes network transaction fees to holders as yield. Users can stake bitcoin and earn additional bitcoin without inflationary token emissions, points programs, or mandatory lockups. Botanix functions as a Bitcoin Layer Two sidechain with EVM capabilities, modern Bitcoin scripting, fee revenue sharing, and a federation of 16 node operators providing custody. The mainnet has processed 10 million transactions in two months with 100% peg-in and peg-out uptime. stBTC receives 50% of network transaction fees; current APR is 34% due to prelaunch rewards, expected to stabilize around 5–6%.
Read at Bitcoin Magazine
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