Bitcoin has long been termed 'digital gold', yet now it is entering DeFi through BTCFi and the Core DAO platform.
Bitcoin in the DeFi World
BTCFi transforms Bitcoin by integrating it into the DeFi ecosystem. Despite its large market cap, Bitcoin previously faced limitations due to smart contract functionality constraints. BTCFi addresses this issue, opening new possibilities for the cryptocurrency.
Core DAO Platform and Its Protocols
Core DAO is a platform combining Bitcoin's security with EVM compatibility. It offers unique solutions through protocols like Colend for lending, Bitflux for liquidity, Glyph Exchange for cross-chain swapping, and Solv Protocol for Bitcoin staking, expanding its functionality within DeFi.
Future of BTCFi and Challenges
BTCFi can change Bitcoin's role in decentralized finance, transforming it from merely a 'store of value' into a functional tool. However, for full adoption, more conservative Bitcoin holders need to be convinced to support automated financial mechanisms of DeFi.
BTCFi unveils new horizons for Bitcoin's usage in DeFi, creating an asset that can be both stored and generate income. BTCFi holds significant potential for revolutionary change in the crypto economy.
