Is Bitcoin-backed lending the new hot thing or what?
I know of at least 4 of them that are planning to launch. How are they going to differentiate?
Rehypothecation vs ??
Show me the contagion-proof businesses.
Discussion
This is how xxi.money gets your bitcoin.
Totally off topic, but that web design is pretty sick. Smooth transitions, clean AF
Looks like https://www.lava.xyz/ is interesting.
nostr:npub15ax0056u0p8hmgtstzg9emx7h9wad4ucnuutj89trsvuzdaehqhqdpc7af
I did learn this is a Solana Smart contact behind the scenes
No, is DLC. Solana is just the stablecoin.
You can learn here: https://chainfail.substack.com/p/swap-it-like-its-hot
I met a team that’s working on a ton of DeFI stuff that’s all on bitcoin. There will soon be an unlimited number of ways to play with your bitcoins.
Which team?
This one. They figured out how to port all the EVM smart contracts to bitcoin. It all on testnet, they haven’t officially launched yet.
Ah ok, nostr:npub1sgwdg4v54ht4xuy5hqkv246nfnadxrjv65r5vuf59azku0k8c98sv0we5l. Yes, I'm waiting to see them release on mainnet.
Yeah, would be interesting to see if the degens move over there after the next phase of the ETH clown show. 😆
There are https://citrea.xyz/ and https://www.alpenlabs.io/ too.
Everyone hates Citrea now, though.
I don't think so, I think it was a free advertising. But Bitcoiners usually don't like EVM, so I think if someone will use it, will be people that use ETH, Solana...
We have https://rootstock.io/ that is an EVM Bitcoin Sidechain since a long time, and few people use.
But I think people that like Ethereum, likes Ethereum because of the proof of stake.
I don’t know, proof of stake really killed their store of value argument if there ever was one.
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I was talking to the ledn guy at mit bitcoin expo and he made some good points about use cases. I smiled and nodded while in the back of my head all i could think of was my unsuspecting bitcoin noob friend who lost like 10 bitcoin to leveraged liquidation on ledn.
This is a natural progression for bitcoin. If bitcoin is going to act like “money” if it is “fuck you” money … perfect property rights, then a major method of monetizing that property is using it as collateral. Obviously it is riskier at this stage than it will be later but equity costs are 20%+ for small ventures.
Prudent use of leverage using bitcoin as collateral is 100% legit. Finding opportunities that will safely deliver 20%+ returns will be challenging, though.
It’s a sly roundabout way for lenders to get Bitcoin from idiots want to larp like little-Saylors 😂
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Am I an influencer now? Do I start a podcast?
Yeah, everyone’s rushing in. But if it’s just rehypothecation again, it’s TradFi with a BTC mask. Real edge is custody transparency, proof-of-reserves, and aligned risk. Contagion proof means built for Bitcoin, not just with it
It's a way to get as much ₿ as possible from idiots in a desperate search for fiat. I see it a bit like this 🤷♂️