The Bitlayer event has been going on for almost 3 weeks, the check-ins are completed, and the event is over. Many friends are asking how to withdraw funds, so here’s a visual guide on the most cost-effective way to exit.
Currently, uniBTC does not allow unstaking, and there is significant slippage in exchanges (about 10%, meaning your 10u will lose 1u), so it is recommended to wait for uniBTC to open unstaking if you are not in a hurry for cash. Save this article, and when slippage decreases, you can proceed. Normal slippage is 1%~3%. Based on the previous experience of exchanging uTON for TON, everyone should know what to do: just one word: wait.
【Operation process and losses】
1. PELL unstake uniBTC. (Transaction fee loss 0.3u)
2. Exchange uniBTC for BTC via DEX. (Current exchange loss 1u, expected exchange loss 0.1u, transaction fee charged per transaction 0.5u)
3. Cross-chain BTC to BSC chain (transaction fee charged per transaction 1.3u)
It is recommended to consolidate multiple accounts into one to share the transaction fees. For example, the fee loss for 5 accounts: 0.3 + 0.1 + 0.5/5 + 1.3/5 = 0.7u
Below is a visual guide, the most cost-effective way to withdraw funds from the Bitlayer event:
1. PELL unstake uniBTC (unstaking requires 7 days before it can be withdrawn)
2. Exchange uniBTC for BTC via DEX.
3. Cross-chain BTC to BSC chain to obtain BTCB, deposit BTCB back to Binance exchange for withdrawal. (Minibridge, Owlto, etc. can be used for cross-chain, here using Minibridge as an example)
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Appendix: Contract code for the uniBTC token on the Bitlayer chain
Main chain: Bitlayer
Contract: 0x93919784c523f39cacaa98ee0a9d96c3f32b593e
