The Bitlayer event has been going on for almost 3 weeks now. The check-ins have been completed, and the event is also finished. Many friends are asking how to pull out, so here is a simple guide on the most cost-effective way to exit.
Currently, uniBTC has not opened unstaking, and there is a significant slippage in exchanges (about 10%, meaning your 10u will lose 1u). Therefore, it is recommended to wait for uniBTC to open unstaking before proceeding, first save this article, and wait for slippage to decrease before acting. Normal slippage is 1%~3%. Based on the previous experience of exchanging uTON for TON, you 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 through DEX. (Currently, the exchange loss is 1u, expected exchange loss is 0.1u, and transaction fee is charged per transaction 0.5u)
3. Cross-chain BTC to BSC chain (Transaction fee charged per transaction 1.3u)
It is suggested that multiple accounts be consolidated 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
The following is a simple guide: Bitlayer's most cost-effective way to pull out assets:
1. PELL unstake uniBTC (Unstaking requires 7 days before withdrawal)
2. Exchange uniBTC for BTC through DEX.
3. Cross-chain BTC to BSC chain to get BTCB, recharge BTCB back to Binance exchange for withdrawal.
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Appendix: Contract code of uniBTC token on Bitlayer chain
Main chain: Bitlayer
Contract: 0x93919784c523f39cacaa98ee0a9d96c3f32b593e
