Convert SUSD1+ to JPY

SUSD1+ is a yield-bearing stablecoin derivative that represents a claim on staked Bitcoin within the Lorenzo protocol, offering Canadian investors a novel way to earn yield on Bitcoin while maintaining liquidity.

Key takeaways

• SUSD1+ is a liquid staking token (LST) for Bitcoin, issued by the Lorenzo protocol, a Bitcoin Layer 2 solution.
• It is a stable-value asset designed to track USD 1+, with its value backed by yield generated from Bitcoin restaking activities.
• The token exists as a multi-chain asset on both Ethereum (ERC-20) and BNB Smart Chain (BEP-20), enhancing its utility across DeFi ecosystems.
• Its primary use case is to provide liquidity and yield-earning opportunities without the need to unstake underlying Bitcoin assets.
• SUSD1+ can be traded on platforms like BTCC, allowing for both spot and derivative market exposure.

What is Lorenzo staked USD1+? Key Specifications & Tokenomics

Lorenzo staked USD1+ (SUSD1+) is a stablecoin-like asset that accrues value from Bitcoin-based restaking yields, functioning as the core liquidity token within the Lorenzo Bitcoin Layer 2 ecosystem.

Who created Lorenzo staked USD1+ (SUSD1+)?

SUSD1+ was created by the team behind the Lorenzo Protocol. Lorenzo is a Bitcoin Layer 2 infrastructure project focused on unlocking Bitcoin's capital efficiency through restaking and leveraging Babylon's Bitcoin staking protocol. The team comprises developers and researchers specializing in Bitcoin scalability, cryptography, and decentralized finance (DeFi). The project aims to bring sophisticated yield-generating mechanisms, commonly found in the Ethereum ecosystem, to Bitcoin holders without requiring them to give up custody of their assets. The issuance of SUSD1+ is a direct product of this vision, providing a liquid representation of staked Bitcoin positions.

How does Lorenzo staked USD1+ (SUSD1+) work?

The mechanics of SUSD1+ are centred on Bitcoin restaking through the Lorenzo protocol. Here’s a simplified breakdown of the process:

1. Bitcoin Staking: Users stake their Bitcoin (BTC) within the Lorenzo ecosystem, which interfaces with protocols like Babylon to secure other networks or provide services.
2. Yield Generation: The staked Bitcoin earns rewards (yield) for providing security or liquidity. This yield is the fundamental value accrual mechanism.
3. Minting SUSD1+: Instead of locking up the staked Bitcoin and its future yield, users can mint SUSD1+ tokens against their staking position. Each SUSD1+ token is a claim on the staked assets and its accrued yield.
4. Stable Value Target: SUSD1+ is algorithmically designed to maintain a value pegged to "USD 1+", meaning it targets a value equal to or slightly greater than one US dollar, with the "+" representing the accumulated staking yield over time.
5. Multi-Chain Utility: The minted SUSD1+ exists as standard tokens on Ethereum (ERC-20) and BNB Smart Chain (BEP-20), allowing holders to freely trade, provide liquidity, or use them as collateral in various DeFi applications across these ecosystems.

What makes Lorenzo staked USD1+ (SUSD1+) unique and valuable?

SUSD1+ introduces a unique value proposition at the intersection of Bitcoin, yield, and liquidity:

• Bitcoin-Centric Yield: It allows Bitcoin, traditionally seen as a store of value, to actively generate yield without leaving its native ecosystem through complex wrapping or bridging to other chains. This taps into the vast, often idle, capital held in BTC.
• Liquidity for Staked Assets: It solves the liquidity problem inherent in staking. Instead of having capital locked and illiquid, users can mint SUSD1+ and deploy it elsewhere, effectively creating liquidity from a staked position.
• Stable Value with Growth: Unlike typical stablecoins pegged strictly to $1, SUSD1+ aims for "USD 1+", meaning its value should gradually increase as staking rewards accumulate, offering a stable yet appreciating asset.
• Multi-Chain DeFi Integration: By existing on Ethereum and BSC, SUSD1+ can plug into the deepest and most mature DeFi landscapes, enabling use cases like lending, borrowing, and liquidity provisioning that are not yet native to Bitcoin Layer 1.

What is Lorenzo staked USD1+ (SUSD1+) used for?

The SUSD1+ token is designed for several key applications within the broader digital asset space:

• Liquidity Provision: Holders can supply SUSD1+ to decentralized exchanges (DEXs) or lending protocols to earn trading fees or interest.
• Collateral: It can be used as collateral to borrow other assets in DeFi protocols, leveraging a yield-bearing position without selling it.
• Trading and Hedging: Traders can use SUSD1+ in spot markets or through perpetual contracts to gain exposure to Bitcoin staking yields or hedge other portfolio positions. You can trade the SUSD1+/USDT spot pair or the SUSD1+/USDT perpetual contract on BTCC.
• Yield Accumulation: Simply holding SUSD1+ in a personal wallet allows the token's value to reflect the underlying Bitcoin staking rewards, serving as a passive yield accumulation strategy.

How Is the Lorenzo staked USD1+ (SUSD1+) Ecosystem Developing?

The SUSD1+ ecosystem is intrinsically linked to the growth of the Lorenzo Protocol and Bitcoin Layer 2 (L2) innovation.

• Protocol Integration: Lorenzo is actively forming partnerships and integrations with other Bitcoin L2s, DeFi protocols, and cross-chain bridges to expand the utility and acceptance of SUSD1+.
• DeFi Expansion: The primary development focus is on embedding SUSD1+ into more DeFi applications as a core liquidity and collateral asset. This includes listings on major centralized exchanges (CEXs) like BTCC and integrations with leading decentralized finance platforms.
• Yield Source Diversification: The Lorenzo protocol may explore integrating additional yield sources beyond basic Bitcoin staking, such as providing liquidity for Bitcoin-based assets or participating in consensus for other networks, which would further back the value of SUSD1+.

How to mine Lorenzo staked USD1+ (SUSD1+)?

SUSD1+ is not mined through traditional proof-of-work or proof-of-stake consensus. It is a minted asset. The only way to create new SUSD1+ tokens is by staking Bitcoin (BTC) through the official Lorenzo protocol interface. Users deposit BTC into the Lorenzo staking contract and, in return, receive an equivalent value of SUSD1+ tokens representing their staked position and future yield rights. There is no independent mining process; token generation is directly tied to capital provision (staking) on the protocol.

How to keep your SUSD1+ Coin safe?

Securing your SUSD1+ tokens requires standard cryptocurrency safety practices, with attention to its multi-chain nature:

• Use Reputable Wallets: Store your SUSD1+ in well-audited, non-custodial software wallets that support the Ethereum (ERC-20) or BNB Smart Chain (BEP-20) standards, such as MetaMask, Trust Wallet, or Ledger Live (when connected to a hardware device).

• Hardware Wallet for Large Amounts: For significant holdings, a hardware wallet (cold storage) like Ledger or Trezor is the gold standard. It keeps your private keys offline and immune to online hacking attempts.

• Verify Contract Addresses: Always double-check the official smart contract addresses when receiving or sending SUSD1+. The correct addresses are:

  • Ethereum (ERC-20): 0xAC8E13ecC30Da7Ff04b842f21A62a1fb0f10eBd5
  • BSC (BEP-20): 0xc748673057861a797275CD8A068AbB95A902e8de

• Beware of Scams: Never share your private keys or seed phrase. Be cautious of unsolicited offers and only interact with the official Lorenzo protocol website and verified partner platforms like BTCC.

How to buy SUSD1+ Coin?

SUSD1+ is a cryptocurrency that can be traded on select exchanges. For a seamless experience with high liquidity, consider using a major platform like BTCC.

1. Register a BTCC Account: Sign up using your email or mobile number and complete the identity verification (KYC) process to access all features.
2. Deposit Funds: Deposit Canadian dollars (CAD) via Interac e-Transfer, bank transfer, or credit card. Alternatively, you can deposit crypto like USDT. For guidance on acquiring USDT, you can follow this guide.
3. Start Trading: Navigate to the trading section and search for the SUSD1+ trading pairs. You can trade the SUSD1+/USDT spot pair or the SUSD1+/USDT perpetual contract.
4. Place an Order: Enter the amount of SUSD1+ you wish to buy and confirm the order. For contract trading, you can also open short (sell) positions and adjust leverage according to your risk management strategy.
5. Confirm Your Purchase: For spot buys, check your asset balance to confirm the SUSD1+ tokens have been credited. For contracts, monitor your open positions on the trading interface.