Is DeFi really gonna accelerate BTC adoption?

[bumojasper]

With the birth of BTCfi on the CORE network where bitcoin hash are delegated to enhance security, BTC staking became possible. Expectedly, many followed suit bringing in the likes of Babylon, Solv, pStake etc. Just last month, the Babylon mainnet launched and has already filled 2 staking Caps with a more affordable UTXO. Reports have it that this has attracted lots of individual and institutional stakers considering how quickly the caps are filled (blocks requirement are also considered though).

Is it possible to go a step further? I believe "yes" and that can be enhanced by introducing Bitcoin-compatible launchpad like OGLong protocol where buidlers and devs can easily access funds for bitcoin dApps which could impact the adoption curve.

 

[alurosu]

the likes of Babylon

It's funny how people say this is a BTC project and forget to mention it is based on Cosmos (ATOM chain)

 

[bumojasper]

It's funny how people say this is a BTC project and forget to mention it is based on Cosmos (ATOM chain)

Never said anything about chain. And basically, defi is no native to bitcoin btw

 

[Liqu1d]

With the birth of BTCfi on the CORE network where bitcoin hash are delegated to enhance security, BTC staking became possible. Expectedly, many followed suit bringing in the likes of Babylon, Solv, pStake etc. Just last month, the Babylon mainnet launched and has already filled 2 staking Caps with a more affordable UTXO. Reports have it that this has attracted lots of individual and institutional stakers considering how quickly the caps are filled (blocks requirement are also considered though).

Is it possible to go a step further? I believe "yes" and that can be enhanced by introducing Bitcoin-compatible launchpad like OGLong protocol where buidlers and devs can easily access funds for bitcoin dApps which could impact the adoption curve.

I think DeFi is still way to complicated for the avarage Joe, that’s why you’re reading all the time that people are either losing their seed phrases or getting parted with this funds in other ways.

For most institutional investors and older generations I think ETFs are a way more conventional way of dabbling into BTC (and other cryptocurrencies in general down the road).

 

[bumojasper]

I think DeFi is still way to complicated for the avarage Joe, that’s why you’re reading all the time that people are either losing their seed phrases or getting parted with this funds in other ways.

For most institutional investors and older generations I think ETFs are a way more conventional way of dabbling into BTC (and other cryptocurrencies in general down the road).

Yeah, I think I agree with you about complexity (something I think abstraction could adequately take care of).

Institutional investors do get into crypto via ETF but more are getting attracted to invest more in mainstream crypto like VanEck recently becoming a VC (they just announced a $30M investment in AI and other crypto projects).

Overall, I believe we still need more improvements to make the space a better and secure place.

 

[BugByte]

DeFi integrating with BTC, like BTCfi and staking on networks like CORE, definitely has potential to boost adoption. If launchpads like OGLong can fund bitcoin dApps, it could push the ecosystem further and accelerate the curve

 

[iamcryptic]

DeFi integrating with BTC, like BTCfi and staking on networks like CORE, definitely has potential to boost adoption. If launchpads like OGLong can fund bitcoin dApps, it could push the ecosystem further and accelerate the curve

I agree. First movers are always a strong bet, in my opinion. From the quick research I've done, it's also community-backed. I’m considering locking BTC in Bitget’s PoolX to see if I can accumulate a considerable amount of OGLg. It might be a good bet, given the low entry threshold.