First decentralized (DeFi), company will launch user-friendly products for Bitcoin. “win the entire market” One crypto-founder claims that 300 million people use the blockchain.
Alexei Zamyatin is the founder of the Bitcoin layer 2, Build on Bitcoin. He told Cointelegraph that at TOKEN2049, in Dubai, he said: “the advantage of Bitcoin DeFi is that the market is much bigger, you have a much bigger retail user base that you can tap into.”
“It’s not easy to convert it, but if you manage to win in Bitcoin DeFi, you win the entire market.”
Zamyatin claimed that 300,000,000 Bitcoin users DeFi Services on Blockchain would be a good example. “outgrow everything we’ve seen so far in Ethereum and Solana.”
Build on Bitcoin offers a hybrid Layer 2 solution, which combines Bitcoin’s security with Ethereum DFI capabilities. via BitVM, Platform that can process Turing-complete Bitcoin contracts.
Zamyatin stated that Bitcoin-native Bridges are needed for DeFi to be able to use Bitcoin, as it is a strong blockchain, but lacks Ethereum’s human talent, network effects, and tools.
Zamyatin (also known as Bitcoin)BTCDeFi-based Bitcoins are in demand because of their high yield and the stablecoin products.
“A lot of institutions that are buying Bitcoin now usually have to find yield on the assets they hold. So Bitcoin yield is becoming a very hot and highly sought-after thing.”
Bitcoin has become the most popular cryptocurrency. “best collateral,” Zamyatin is now added.
Would it be possible to tokenize the Bitcoin ETF in order for institutions to gain access DeFi yields. pic.twitter.com/2HCpwbCZDS
— alexei (@alexeiZamyatin) April 10, 2025
Bitcoin staking Bitcoin users are locking their bitcoins into self-custodial wallets or extractable signatures for staking on blockchains that reward proof-of stake, such as Ethereum.
The Babylon Protocol leads the market in this area with a $4.64 Billion worth of locked value, which is nearly 80% all Bitcoin value. data shows.
Bitcoin’s DeFi TVL still represents only a tiny fraction of Ethereum’s value of $54.6 Billion.
Bridge solutions to a controversial subject
Zamyatin acknowledges the hacks that have occurred on bridges using blockchain technology, but claims most were due to teams. failing to manage their private keys, Instead, smart contract vulnerabilities.
Zamyatin pointed out that while the competition is fierce in retail, many institutions are still hesitant to implement bridges that enable users to transfer value between blockchains that do not work together.
Related: Bitcoin NFTs, layer-2 and restaking hype ‘completely gone’
Zamyatin stated that efforts have been made in order to increase the amount of signers on bridges from 5 to 50.
These solutions have not been widely adopted by institutions because many don’t even know who is signing transactions.
RenBTC, for example, is operated by the Ren Protocol via a network of Darknodes. These nodes sign transactions in order to lock BTC, and mint RenBTC that can be used on other chains.
Due to their anonymity, many institutions still avoid using these protocols and opt instead to entrust such services to trusted custodians as BitGo and Coinbase Custody.
Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet
Ezra Reguerra contributed additional reporting.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
