I think most people are looking at Trustless Bitcoin Vaults from the wrong direction.
The obvious story is borrowing against Bitcoin.
The part I kept thinking about was everything that happens before borrowing even becomes possible.
Bitcoin doesn't suddenly become flexible.
The infrastructure changes instead.
That's what makes TBV feel different to me.
For years, using BTC in DeFi usually started by changing Bitcoin into something else or adding another layer people had to trust.
TBV seems to start with a different question:
How much can be built around native Bitcoin before Bitcoin itself has to change?
That sounds like a small difference, but I don't think it is.
If the answer is "more than we thought," then the first native BTC borrowing use case isn't the destination.
It's simply the first proof that Bitcoin can participate without leaving behind the properties that made people trust it in the first place.
That's the idea I couldn't stop thinking about after learning more about @BabylonLabs_io .
$BABY #baby
#baby $BABY #Babylon
The obvious story is borrowing against Bitcoin.
The part I kept thinking about was everything that happens before borrowing even becomes possible.
Bitcoin doesn't suddenly become flexible.
The infrastructure changes instead.
That's what makes TBV feel different to me.
For years, using BTC in DeFi usually started by changing Bitcoin into something else or adding another layer people had to trust.
TBV seems to start with a different question:
How much can be built around native Bitcoin before Bitcoin itself has to change?
That sounds like a small difference, but I don't think it is.
If the answer is "more than we thought," then the first native BTC borrowing use case isn't the destination.
It's simply the first proof that Bitcoin can participate without leaving behind the properties that made people trust it in the first place.
That's the idea I couldn't stop thinking about after learning more about @BabylonLabs_io .
$BABY #baby
#baby $BABY #Babylon