Keep Network is one of the DeFi projects that are trying to tokenize BTC on Ethereum in a non-custodial manner. Their version of tokenized bitcoin is called TBTC. How they are tokenizing Bitcoin deserves a separate post on its own and in this post, I just want to rant about my frustrations in getting testnet BTC.
Keep Network is now running a program to exchange 200 mainnet KEEP token for every TBTC minted (it was 100 KEEP for 1 TBTC minted but it was later on changed to 200. See 2nd screenshot).
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200 KEEP tokens is now worth about $100-$120. So if you do it right, the reward is pretty decent. Furthermore, you can technically mint multiple TBTC and that will entitle you to more rewards. At the same time, you are also testing the TBTC minting dApp and if you are able to find any bugs and report it, there is a chance for you to earn more KEEP.
Right now, the main challenge I am facing is to get testnet BTC. Several popular test Bitcoin faucets seem to be drained and I am having problems getting more 😅. The screenshots below are just some examples.
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While this post is largely a rant 🤣, it is also to draw your attention to this opportunity. If you happen to have some testnet bitcoin lying around, perhaps you may want to consider minting some TBTC. Here is a good guide to help you get started.
Minting TBTC in the testnet requires some effort. If you find it too much of a hassle. Consider sending me your testnet Bitcoin and I am willing to send you some HIVE to show my gratitude. If you are interested in sending me some testnet Bitcoin, leave a comment on this post or DM me on Discord (culgin#1360).
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