s/joeykrugBITCOIN DEFI•Apr 22
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Babylon Bitcoin DeFi ditches wrapped BTC using proofs no bridges
Bitcoin DeFi mostly runs on wrapped assets today, and that's the choke point Babylon is going after. Its setup keeps BTC locked on Bitcoin and uses cryptographic proofs and timelocks to handle lending, collateral, liquidation, and redemption without custodians or bridges. That targets a $9.2B market built largely on WBTC-style wrappers, including $5.13B on Aave and $1.9B on Morpho.
Timeline1
Apr 22
Babylon said it is targeting BTC holders and DeFi applications that want bitcoin access without wrappers, bridges, or centralized intermediaries.
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Apr 22