History has been made!
stBTC, our BTC-equivalent liquid staking token backed by the combined value of Bitcoin’s market price and the native yield generated through Babylon staking, has become the first yield-bearing BTC-equivalent token launched and fully technically integrated with Sui — a milestone for all of Bitcoin DeFi.
To celebrate, we’ve launched “Bitcoin Is On The Move,” an stBTC event with $10,000 in shared rewards available to any pioneers who join us in bringing BTC liquidity to Sui. Through this campaign, users can also gain Lorenzo Points and enhanced access to Move’s DeFi ecosystem.
Join the event now — https://app.lorenzo-protocol.xyz/campaign/detail?id=7
The event will run from December 4, 2024, 11:00 AM UTC+0 — December 18, 2024, 4:00 PM UTC+0.
Get Help: View the event tutorial at the end of this blog to get started correctly in this event. If you have any additional questions during the event, please visit our Discord and contact a team member.
Let’s dive into how you can win!
Earn Your Share Of $10,000 For Using Lorenzo Tokens On Sui
By participating in Bitcoin Is On The Move, you can boost your Bitcoin’s earning potential while seamlessly exploring Cetus and NAVI Protocol, two standout, leading Sui ecosystem projects, and expand your opportunities in the booming Move ecosystem.
Rewards for Bitcoin Is On The Move are based on stBTC activity on Sui and are available for everyone with a Sui wallet address.
Please Note: If you don’t have any stBTC, you can stake WBTC via Ethereum to our staking dApp to get stBTC — https://app.lorenzo-protocol.xyz/staking
How to Join
Task 1: Get at least 0.000002 stBTC on Sui, you can choose any one of the following options.
— Bridge at least 0.000002 stBTC to Sui
— Buy at least 0.000002 stBTC on Cetus
Task 2: Deposit at least 0.000001 stBTC into Navi to borrow wBTC or vSui, then provide at least 0.0000001 stBTC and the corresponding amount of wBTC or vSui as liquidity to the stBTC-wBTC or stBTC-vSUI pool on Cetus.
Task 3: Hold at least 0.000001 stBTC you bought or bridged in Task 1 until the end of the campaign
Rewards:
- Eligible participants who complete Task 1 will receive 1500 Lorenzo points
- Eligible participants who complete Task 2 will receive 500 Lorenzo points
- Eligible participants who complete Task 3 will receive 1000 Lorenzo points
- Please note, each wallet address can only earn the reward once per task
- stBTC Rewards: a total of $10K worth of stBTC will be evenly distributed among all addresses that successfully complete all the tasks.
Important Notes:
The snapshot will be taken of wallets used for task 3 at the end of the campaign. To remain eligible for full rewards, ensure your wallet maintains at least 0.000001 stBTC throughout the entire campaign. Please note that points will be awarded only once.
Snapshot Time：December 18, 2024, 4:00 PM UTC+0
After the snapshot, points will be counted within 24 hours, and Lorenzo points will be distributed within 1 week after the event ends. Users can log in to the Lorenzo dApp using the wallet address they used to participate in the event and check their earned points in the personal center.
Unlocking Continuous DeFi Engagement and Rewards
Lorenzo is introducing Bitcoin liquidity and staking solutions to the Move ecosystem through stBTC, unlocking high-yield opportunities and DeFi utility for BTC holders. By partnering with Cetus and NAVI, Lorenzo showcases BTC liquidity’s potential within Move Ecosystem.
Cetus: Empowering Move Ecosystem Liquidity
As the leading DEX in the Move ecosystem, Cetus will provide deep liquidity pools for stBTC to ensure low-slippage, high-efficiency trading. It will also attract more BTC holders to the Move ecosystem through diverse trading pairs.
Learn More - https://medium.com/@lorenzoprotocol/lorenzo-protocol-partners-with-cetus-to-bring-btc-liquidity-to-the-sui-move-ecosystem-94f70c8fb8d1
Navi Protocol: Bridging Lending Innovation
NAVI, a leading DeFi protocol on Sui, enables stBTC holders to use their assets as collateral for borrowing while earning yields from stBTC and lending interest.
Learn More - https://medium.com/@lorenzoprotocol/lorenzo-protocol-partners-with-navi-protocol-to-amplify-btc-liquidity-in-move-ecosystem-2eb73f8d37f2
Event Tutorial
To fully complete the event, make sure you have some stBTC and WBTC in your Sui wallet!
You can acquire these assets here:
stBTC via Cetus — https://app.cetus.zone/swap?from=0x2::sui::SUI&to=0x5f496ed5d9d045c5b788dc1bb85f54100f2ede11e46f6a232c29daada4c5bdb6::coin::COIN
stBTC via Lorenzo (stake BTC/WBTC/BTCB to acquire) — https://app.lorenzo-protocol.xyz/staking
WBTC via Cetus — https://app.cetus.zone/swap?from=0x2::sui::SUI&to=0x027792d9fed7f9844eb4839566001bb6f6cb4804f66aa2da6fe1ee242d896881::coin::COIN
Task 1 — Get at least 0.000002 stBTC on Sui, you can choose any one of the following options.
— Bridge stBTC to Sui
- Connect your wallet to the Lorenzo dApp and bridge your stBTC to Sui Network — https://app.lorenzo-protocol.xyz/bridgestBTC
2. Click “Go to Bridge” and bridge at least 0.000002 stBTC to Sui
Currently, support is only between Ethereum and Sui. For assets on other networks, convert them to Ethereum first, then bridge them to Sui.
3. Bridge at least 0.000002 stBTC to Sui for the first time to get 1,500 Lorenzo points
— Buy stBTC on Cetus
- Connect your wallet to Cetus — https://app.cetus.zone/swap?from=0x2::sui::SUI&to=0x5f496ed5d9d045c5b788dc1bb85f54100f2ede11e46f6a232c29daada4c5bdb6::coin::COIN
2. Buy at least 0.000002 stBTC on Cetus for the first time to get 1,500 Lorenzo points
Task 2— Deposit stBTC on NAVI and provide liquidity to stBTC-WBTC pool on Cetus
- Deposit at least 0.000001 stBTC as collateral by clicking “Supply” on the stBTC panel — https://app.naviprotocol.io/
2. Provide at least 0.0000001 stBTC and the corresponding amount of WBTC or vSUI as liquidity to either the stBTC-WBTC pool on Cetus — https://app.cetus.zone/liquidity/deposit?poolAddress=0x2d79ad383127b41352030895b5c5e5228b54b2e26c9caddb71d04b928c6a4b33
OR
Provide at least 0.0000001 stBTC and the corresponding amount of vSUI to the stBTC-vSUI pool on Cetus — https://app.cetus.zone/liquidity/deposit?poolAddress=0x333dd0d3f12c38ebd4b292c666b79329af9aadc01c535a1941a1859ff397d4c9
3. Once you’ve deposited at least 0.000001 stBTC as collateral on Navi and added at least 0.0000001 stBTC and the corresponding amount of wBTC as liquidity to the stBTC-wBTC pool on Cetus, you will get 500 Lorenzo points.
Task 3— Hold at least 0.000001 stBTC you bought or bridged in Task 1 until the end of the campaign
Once you’ve completed all tasks, your wallet becomes eligible for the $10K worth of stBTC grand prize, evenly distributed among all qualifying addresses. As a reminder, please remember that to remain eligible for rewards, ensure your wallet holds at least 0.0000001 stBTC during the snapshot mentioned earlier in this blog .
Congrats and thanks for joining us on Sui!
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To stay informed on all Lorenzo staking updates and opportunities, please visit and follow the regular updates on X (Twitter), Medium, Telegram, and Discord.
