Over the past year, the Babylon story has evolved from trustless Bitcoin staking to programmable native Bitcoin collateral.
That has always been the vision: extend the use cases of native Bitcoin while retaining our ethos of “don’t trust, verify.”
https://t.co/NNu6oCGTSn
@DefiWimar This is exactly why preparing early matters. Once the threat becomes immediate, migrating legacy systems may be harder than the attack itself. Projects like @QANplatform are already approaching that problem early.
Collateralization is the foundation of finance.
And Bitcoin, among all digital assets, is the best collateral, yet still mostly idle.
@baby_fisherman explains why Bitcoin is the best collateral with @0xKolten at @aave DeFi day.
Bitcoin DeFi has grown rapidly but it's still missing a solution for using native BTC as collateral.
Babylon is solving this with Trustless Bitcoin Vaults. Others will follow.