My eye is on Bitcoin DeFi

In this era of digital transformation, I often pause to contemplate the glimmer of hope trying to reshape the essence of money. @BitlayerLabs, the pioneer of decentralized finance (DeFi) for Bitcoin, based on BitVM, is quietly revolutionizing the Bitcoin world, as if it were a whispered poem. Its quiet presence, intertwined with technology and trust, highlights Bitcoin's potential to transform from a rigid asset into a dynamic and seamless force.

Recently, a series of its activities unfolded like a scroll, with a clear essence: the cross-chain expansion of YBTC.B and community incentives is not just a technological leap, but also a redefining of the Bitcoin ecosystem.

Promotion campaign: the attractive domain of the community

In mid-August, BitlayerLabs launched the third phase of the promotion campaign (from August 15 to 29). Using 5.15 million BTR as bait, users holding 61 alpha points from Binance or more were encouraged to deposit YBTC.B in the Plume DeFi Vault. Depositors participated in a reward pool of 1.2 million BTR, benefiting 30,000 users.

This is not just a rewards game; it is a carefully designed community experience. It brings together scattered Bitcoin holders, breaking the isolating nature of decentralized finance. Participation unites, and holding empowers - BitlayerLabs uses incentives to build a decentralized trust network.

The journey of YBTC.B across the chain: liquid Bitcoin

The most surprising thing is the multi-chain integration of YBTC.B, which allows Bitcoin liquidity to break through single-chain constraints:

Log in to Folks Finance: YBTC.B is connected to the Avalanche network, allowing users to leverage their Bitcoin holdings, gain liquidity, and even explore advanced income strategies.

Collaboration with the Solana ecosystem: through collaboration with Kamino Finance and Orca.so, YBTC.B enters Solana, bringing with it original Bitcoin yields and high-speed configurability.

All of this has become possible thanks to the non-custodial bridge of BitVM Bridge and collaboration with Chainlink CCIP, minimizing trust to the lowest level. The 1:1 BTC support, without the need for an intermediary, reminds me of the philosophers' questions about removing mediation: in the digital world, can a trust bridge truly be pure?

The cornerstone of trust in the ecosystem

Deposits of YBTC.B have surpassed 50 Bitcoin, demonstrating the trust of the cryptocurrency community. Starting from early support from Polychain Capital and Framework Ventures, to the current expansion across multiple currency chains, BitlayerLabs has made steady progress and remains focused on the future of BTCFi.

This reminds me that true innovation is often hidden in the details - not in the grand narrative, but in the careful construction of bridges, incentives, and liquidity.

Conclusion: Bitcoin's second spring?

As someone from outside the financial world, I can't help but wonder: do these steps taken by BitlayerLabs represent a new cycle in decentralized finance, or are they the beginning of a true Bitcoin renaissance? This reminds me of old reflections on the nature of money - trust, greed, and freedom.

In any case, BitlayerLabs has succeeded in achieving the goal: making Bitcoin not idle, but mobile. Perhaps we will witness more surprises in the next phase.

What do you think of the wave of Bitcoin decentralized finance? Share your thoughts in the comments!

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