Bitlayer Series ㊿: The DeFi Journey of YBTC and Bitcoin: From Asset Storage to Yield Generation

Bitcoin, as the pioneer of cryptocurrency, has long been regarded as a value storage tool. Its robust security and globally recognized status have made it a form of digital gold. However, with the rapid development of decentralized finance (DeFi) and the cryptocurrency asset market, the application of Bitcoin in these emerging markets remains limited. The YBTC launched by @BitlayerLabs opens the door to DeFi for Bitcoin, transforming it from a mere storage tool into a multifunctional financial asset that can generate yield.

YBTC is a yield-bearing asset based on Bitcoin, allowing Bitcoin holders to convert their Bitcoin into YBTC, thus participating in decentralized finance platforms to engage in liquidity mining, lending, yield aggregation, and other activities to earn returns. Through the BitVM Bridge technology provided by @BitlayerLabs , YBTC can circulate across chains and participate in DeFi protocols on multiple blockchain platforms such as Ethereum and BSC, providing more application scenarios for Bitcoin.

This transformation makes Bitcoin not only digital gold but also a yield-generating asset. Bitcoin holders no longer solely rely on Bitcoin's long-term value preservation function but can enhance asset value through DeFi protocols. The launch of YBTC not only promotes the financialization process of Bitcoin but also accelerates its adoption within the decentralized finance ecosystem.

Through YBTC, Bitcoin has taken a crucial step from storage to yield, continuously advancing towards the goal of comprehensive financialization. #Bitlayer