About AnetaBTC:

AnetaBTC

AnetaBTC's ultimate goal is to establish itself as a completely decentralized Bitcoin wrapping protocol, designed to enable people to take full ownership of their finances and leverage the value of their Bitcoin on the most secure and decentralized blockchain networks, namely Cardano and Ergo. The protocol aims to provide users with a high level of autonomy and control over their assets, giving them the ability to unlock the true potential of their Bitcoin holdings.

“ We believe the ability to transfer some of the immense wealth held by the Bitcoin community, now exceeding half a trillion dollars in total, and with a secure and transparent protocol such as anetaBTC, is an important step in allowing Bitcoin holders to seamlessly participate in what is one of the fastest growing financial sectors in the world today — decentralized finance (DeFi) — and provide the necessary component to all successful DeFi ecosystems, liquidity.

Ultimately, the anetaBTC team is committed to fulfilling our roadmap and creating a secure and open-source protocol that is verifiable, transparently governed by the community, and widely held throughout the world by individuals and institutions in jurisdictions that allow its citizens to participate in the rapidly expanding growth in open-source global finance.”

cNETA / NETA Utility

There are a combined total of two billion (2,000,000,000) anetaBTC protocol tokens and is hard-capped.

• 1,000,000,000 (50%) of these anetaBTC protocol tokens will be on Cardano as cNETA.
• 1,000,000,000 (50%) of these anetaBTC protocol tokens will be on Ergo as NETA.

Combined, NETA and cNETA tokens represent a 100% governance and revenue-sharing stake for the entire anetaBTC protocol.

Proposed Revenue Model

Each time a user wraps and unwraps BTC to cBTC, there will be a transaction fee of 0.0005 BTC + 0.5% BTC, meaning that all revenue generated by the anetaBTC protocol will be in Bitcoin.

Fees earned by the anetaBTC protocol will be utilized in the following manner:

This should result in deeper liquidity for both the cNETA/ADA pair and the cBTC/ADA pair, meaning a stronger and more liquid market for Bitcoin on Cardano.

Tokenomics

In total, 70% of all outstanding cNETA/NETA supply is allocated for public distribution. A complete detailed outline can be found below.

1. BTC Fund: 30% (600,000,000 tokens)
2. Team and Advisors: 25% (500,000,000tokens)
3. Incentives: 14% (280,000,000 tokens)
4. Liquidity ISO: 10% (200,000,000 tokens)
5. NETA Liquidity Fund: 5% (100,000,000 tokens)
6. Aneta Foundation: 5% (100,000,000 tokens)
7. Ergo Development DAO: 5%(100,000,000 tokens)
8. Airdrops: 5% (100,000,000 tokens)
9. Community Team: 1% (20,000,000 tokens)

When their team launches, participation in the anetaBTC protocol will be rewarded.

Those who wrap their BTC to cBTC will earn cNETA rewards for using the protocol, similar to yield farming on a DEX.

BTC Fund

NETA Liquidity Fund currently holds over 2 BTC, 250k ADA, 1 million MIN, 50k ERG, and 100 million cNETA/NETA.

Regulatory Clarity — Malaysia

The Aneta Foundation is a non-profit organization based out of Malaysia. The Foundation holds a five percent stake in anetaBTC.

Aneta Digital Holdings (ADH), owned by the Foundation, is a legal entity in Malaysia that is in the process of acquiring a digital exchange license from the government of Malaysia (Centralized Exchange) that is expected to be granted later this year by Q4 2023. This license will be the fifth digital exchange license in the country along with four others, one of which is Luno, a leading global exchange, and another a company owned partly by Binance. 

This is particularly beneficial to anetaBTC users as our v1 platform is centralized and custodial.

Learn more here:

https://medium.com/@anetaBTC/tokenomics-v3-btc-fund-and-government-issued-license-879ec385b79d

We also highly suggest you follow their Medium Page (linked below) for all upates regarding this exciting project!

https://medium.com/search?q=Anetabtc