Price Index

btcSOL assists users in accumulating Bitcoin by automatically converting a portion of the user’s staking position yield into Bitcoin based on the Price Index determined by the APR of each LST-SOL and calculated by the system. It is a key metric to determine how much $btcSOL a user receives when depositing SOL or LST-SOL (e.g., mSOL). It represents a dynamic ratio based on the market prices of SOL and LST-SOL.

The Price Index accounts for differences in value between SOL and various LST-SOL, ensuring fair conversion when minting $btcSOL. For example:

1. Assuming the Price Index for jupSOL Team is 1.1358, and Betty stakes 1 SOL on the platform.
2. Betty sets the slippage as 0.5%, getting a minimum of 0.8762 jupSOL quoted from Jupiter Swap.
3. The platform charges 0.5% of Service Fee deducted from the quoted 0.8762 jupSOL, getting 0.8718 jupSOL.
4. Betty mints 0.9903 $btcSOL after 0.8718 jupSOL multiplies the Price Index.

The Price Index fluctuates based on market prices of SOL and LST-SOLs, rather than being controlled by the system.

Independent Price Index for Each LST-SOL Team

Each LST-SOL team corresponds to an independent vault and maintains an independent price index. Users’ operation logic is as follows:

Stake Operation

• Users holding SOL: Select ANY LST-SOL Team → Stake (Slippage applies; users can set their own slippage) → Swap to corresponding LST-SOL → Mint $btcSOL from the corresponding vault to accumulate zBTC
• Users holding LST-SOL (including mSOL, jupSOL, or kySOL): Select a specific LST-SOL Team → Stake (no slippage applies) → Mint $btcSOL from the corresponding vault to accumulate zBTC

Unstake & Withdrawal Operation

• Select a specific LST-SOL Team → Unstake to burn $btcSOL → Go to My Position to click the “Withdraw” button → Choose to withdraw either SOL or LST-SOL

*Note that slippage applies when SOL needs to be swapped to LST-SOL and vice versa via Jupiter Swap. Users can set the slippage on their own when staking and withdrawing SOL.

No slippage when directly staking LST-SOL without any swapping required, e.g., staking LST-SOL to mint $btcSOL, and withdrawing as LST-SOL.

Accumulation Rate

Accumulation Rate on $btcSOL represents a target rate of asset conversion from users' staking position yield into Bitcoin over one year. For example:

If the accumulation rate is set at 5.5%, btcSOL will aim to convert 5.5% of the user’s staking position yield into zBTC or BTC within one year.

This approach ensures that Bitcoin accumulation is value-based, rather than being subject to daily price fluctuations. For the current accumulation rate, please refer to the product page.

As mSOL APY is currently higher than 5.5%, the yield differential is accrued to the stakers’ mSOL stake. Please note that the Accumulation Rate on btcSOL is not the same as the APY earned from the SOL staking yield. btcSOL focuses on Dual Asset Accumulation Strategy (D.A.A.S.), where users will be able to accumulate zBTC or BTC by staking SOL or LST-SOL, giving users exposure to both SOL & BTC.

Reward

The system operates on a one-day cycle (00:00–23:59 UTC) for zBTC/BTC accumulations. It occurs multiple times throughout this cycle on a variable schedule. Users can claim their accumulated BTC or zBTC daily after 00:00 UTC in My Position on btcSOL. Therefore, it is recommended to stake for at least 24 hours to ensure you complete a full accumulation cycle.

Users can choose to claim their rewards either in zBTC or BTC. The rewards accumulated from all the LST-SOL Teams can only be claimed at once.

To maximize your returns, consider unstaking shortly after claiming your distributions at 00:00 UTC, as unstaking mid-cycle may cause you to miss that day's accumulations, resulting in a potential loss.