Money on Chain is a robust DeFi protocol on top of the RSK blockchain which allows the use of bitcoin for decentralized finance without counterparty risk, and BPro is part of that. This token has continuously outperformed bitcoin for the past two years, a HODL and earn token that allows users to improve the performance of their bitcoins while retaining full control over their private keys.
Money on Chain is all about bringing Bitcoin into the mainstream, allowing bitcoin holders to earn rent on their position and gain free leverage. This is all about bringing DeFi to the Bitcoin ecosystem. Money on Chain has been built on RSK, an EVM-compatible layer-2 solution on top of the Bitcoin blockchain. More importantly, it has already proven itself as a robust DeFi ecosystem on top of Bitcoin that endured extreme market situations, such as the BTC flash crash from March 20, 2020.
At the time of writing the Money on Chain, stablecoin ecosystem has a TVL of $56.5 million. It’s an ecosystem that offers the DoC stablecoin, a leveraging mechanism, and a hodl token, all backed by bitcoin. The hodl token is called BPro, allowing token holders to keep stacking sats while staying in full control over their private keys. Money on Chain is as censorship-resistant as it can get, as users don’t need to comply with any KYC processes.
Hodl and earn
BPro gives users passive income combined with free leverage, which makes the price of BPro increase, even more, when the price of bitcoin goes up. BPro token holders also earn MoC token on a daily basis, simply by holding their tokens through the MoC Liquidity Mining Program. Because users have full ownership over their assets, they can always switch back to BTC at any time. Simply redeem against the smart contract or sell tokens on the secondary market.
Money on Chain and their BPro exist on the RSK blockchain. This ecosystem is EVM compatible, and therefore you can simply use METAMASK to interact with RSK dapps.
The BPro ecosystem has been designed in such a way that it always outperforms bitcoin (BTC) with a +26.6% historical performance and peaks of +30% on the last bullrun.The entire economy of BPro taps into the RSK blockchain, meaning that all tokens are ERC20 tokens. BPro has three ways it creates value for token holders:
- Holders of the dollar-pegged stablecoin DoC provide the leverage for BPro, allowing BPro to always stay ahead.
- It earns income in rBTC, the bitcoin-pegged RSK version of BTC. This comes from traders doing BTC leveraged operations. 100% of the interest paid by BTCx (leveraged bitcoin holding position) goes to the BPro, adding value to the token.
- Thirdly BPro earns a share of the Money on Chain (MOC) protocol fees. 20% of the fees paid by users goes to BPro, for example for issuing or redeeming BPro tokens. BPro pays 0.25% of its value to Money on Chain, deducted on a weekly basis.
BPro historically outperforms bitcoin
Users who have moved their BTC to the RSK blockchain, have received rBTC. They then need to swap their rBTC for BPro. The additional utility and interest gained on BPro, creates more value. Those who have done that, have historically seen their holdings increase 26.6% more on top of their bitcoin profits.
Even though BPro and BTC move together, the advantage of BPro over BTC isn’t always the same. There are fluctuations between 20% and 30%, where 26% on top of BTC seems to be the standard. This emphasizes that people see value in holding BPro and earning that passive income, but also shows that market trends influence demand as is the case with any other token.
Adding RSK to Metamask
Those interested in jumping into Money on Chain and the BPro token will need to get familiar with RSK. Getting started with RSK would require you to have a wallet. Because RSK is EVM compatible, we can use the Metamask browser extension. We assume you already have it, if you don’t please install it from the official website: http://metamask.io/ or follow this guide. Now let’s continue as you have Metamask installed in your browser.
- Network name: RSK Mainnet
- RPC URL: https://public-node.rsk.co
- Chain ID: 30
- Symbol: RBTC
- Block explorer: https://explorer.rsk.co
You can also easily add custom tokens on the RSK network to your Metamask wallet using this tool from RIF (RSK Infrastructure Framework): https://metamask-landing.rifos.org/
Now you’re ready to interact with RSK, and use Money on Chain. You can also learn more about RSK here, or dive into the wider RSK ecosystem in the DappRadar Rankings.
