2025-12-28 12:23:00

Currently, most BTC profit schemes seem glamorous but are actually hidden risks. Leverage, token release, asset packaging, single income sources—once the market changes, these schemes collapse.

Could a different approach work? Some emerging protocols are trying. Locking BTC to obtain veBTC tokens is not an empty promise but directly grants the right to a share of the actual protocol revenue, including the income generated from MUSD loans. This design logic is different: the yield comes from the operation of the protocol itself, rather than relying on continuous new funds or incentives.

Whether this fundamentally reshapes the way BTC is used and can support a more stable profit model remains to be seen. But at least, the direction is worth paying attention to.

BTC0.34%

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SmartContractRebel

· 10h ago

Damn, finally someone has explained this clearly. Those yield farming schemes are really a game of hot potato; a collapse is inevitable. The veBTC logic is indeed different; at least the returns come directly from the protocol's operation, not maintained by air tokens in a Ponzi scheme. But on the other hand, how long MUSD's actual income can sustain is still uncertain. Let's wait and see how it develops; there's no need to rush into all-in positions.

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DustCollector

· 10h ago

Currently, BTC financial products are a bit虚, and they get exposed during a bear market. At least this veBTC idea is more reliable, not purely relying on new retail investors to sustain it. The actual收益分配 is indeed a hundred times better than worthless tokens. Let's wait and see, anyway, don't go all in for now.

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ContractHunter

· 10h ago

Another bunch of seemingly high-yield air projects, and their true nature is exposed as soon as the market dips. The veBTC logic is somewhat interesting; at least it's not relying on patching up losses by taking from Peter to pay Paul. But to be honest, it still depends on how much real value the protocol itself can generate. Anyone can boast.

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LightningHarvester

· 10h ago

To be honest, those BTC wealth management products are just relying on retail investors' FOMO to survive. Once liquidity dries up, their true nature will be exposed immediately. I'm somewhat interested in the veBTC logic, at least it's not purely relying on new retail investors to fill the gaps... but the key still depends on whether the protocol itself has enough ability to generate value.

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SignatureDenied

· 10h ago

It's the same old trick again. veBTC sounds pretty new, but honestly, we're just waiting for the market to confirm it.

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CryingOldWallet

· 10h ago

That's right, those high APYs are all scam packaging. The veBTC logic is indeed different, at least not relying on new retail investors to take the fall.

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