🚀 Exciting news from the DeFi world! Umoja has launched a new product allowing Coinbase wrapped BTC (cbBTC) holders to earn a 6% yield on the layer-2 network Base.

- Umoja's strategy involves a mix of centralized and decentralized exchange tactics, like covered calls and arbitrage.

- Remember, cbBTC is an ERC20 token backed 1:1 by Bitcoin held at Coinbase, not Bitcoin itself.

- The protocol also supports Yield Vault Tokens (YVTs), with yBTC minted when users deposit cbBTC.

This move might stir discussions among Bitcoin purists. What are your thoughts on earning yields through DeFi? Share in the comments! 💬