Beginner's Three-Step Guide
Step One: Safety Preparations
Wallet Setup: Prepare a Bitcoin wallet (recommended hardware wallet) and a target chain wallet (like MetaMask)
Small Test: It is recommended to test the process with an amount below 0.01 BTC for first-time users
Record Keeping: Keep a record of all transaction hashes for easy reference and troubleshooting
Step Two: Cross-Chain Operations
Visit Official Website: Access the Lorenzo Protocol interface through verified channels
Connect Wallets: Connect the Bitcoin wallet and target chain wallet in sequence
Initiate Cross-Chain: Input amount → Confirm fees → Sign transaction → Wait for confirmation (about 6 blocks)
Receive Assets: Check LBTC balance in the target chain wallet
Step Three: Generate Returns
Conservative Strategy: Deposit in lending protocols like AAVE, with an annual return of 5-15%
Balanced Strategy: Provide liquidity on Uniswap, with an annual return of 15-40% (note the impermanent loss)
Aggressive Strategy: Participate in advanced mining like Curve, with an annual return of 40%+
Risk Management Key Points
Only use spare money to participate in DeFi
Understand the risks of each strategy
Set stop-loss lines (e.g., exit if a single strategy loses 20%)
Regularly check authorizations and wallet security
By following these three steps, even DeFi beginners can safely start their Bitcoin earnings journey.
