medium.com/pangacapital
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Yield Without Tears: Unlocking Self-Custodied Yield on BTC

For 15 years Bitcoin has been the world’s first decentralized settlement network precisely because it isn’t a Turing-complete computer. Limited opcodes, hard-fork aversion, and a “shelling point” social contract have kept the protocol simple, auditable, and politically neutral. The cost is obvious: native DeFi is impossible. No on-chain AMM, no lending markets, no composable derivatives.