BOB Maps the Road to Bitcoin DeFi via Hybrid Rollups and BitVM
BOB explores Bitcoin DeFi, outlining hybrid rollups, BitVM bridges, liquid staking, and restaking as the foundations for building a more expressive Bitcoin economy.
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What is Bitcoin DeFi (BTCFi)
Bitcoin DeFi has experienced a staggering 2,000% surge in total value locked (TVL) over the past year, jumping from US$305 million at the start of 2024 to US$6.5 billion today. With still only 0.3% of Bitcoin’s total market cap being used in decentralized finance, this recent influx highlights immense potential for DeFi on Bitcoin.
To put things into perspective, approximately 30% of Ethereum is currently used in DeFi, which means if the same percentage of Bitcoin was used for DeFi, it would create over $750 billion in TVL - a more than 100x growth opportunity.