BINGO (BG)

BINGO (BG) is a liquid-staking protocol designed for Bitcoin (BTC) operating on the BEVM network. Developed inspired by Lido on Ethereum, this protocol allows users to stake their Bitcoin while maintaining access to their digital assets. By utilizing BINGO, token holders can earn staking rewards without compromising the liquidity of their holdings, enabling participation in various DeFi applications to augment their returns.

The core utility of BINGO revolves around the stBTC token, a transferable rebasing utility token that signifies a proportional share of the total BTC staked via the protocol. Each user’s stBTC reflects their stake and accrued rewards, which are rebased daily, keeping participants informed of their current standing. This design provides a transparent representation of user investments over time, ensuring that all stakeholders can access the most up-to-date information regarding their assets.

Besides staking, BINGO supports straightforward unstaking through a withdrawal request process, allowing users to regain their BTC at a 1:1 ratio with relative ease. The protocol also features a staking pool to manage deposits, rewards, and withdrawals efficiently, enhancing the user experience within the BINGO ecosystem. Furthermore, with the introduction of wrapped stBTC (wstBTC), users benefit from a non-rebasable alternative that facilitates more straightforward integration with decentralized applications, making BINGO a versatile choice in the ever-evolving DeFi landscape.