#baby $BABY @BabylonLabs_io My colleague and me, we work together in freelancing. Today, We were looking at the steps on how to deposit native Bitcoin for a native Bitcoin-backed Loan on the public Testnet. Both of us have a great interest in Crypto Currency. From that interest, I learned today while reading Babylon's TBV update that:
Listen, actualy many projects call themselves infrastructure, while others introduce themselves as product companies. But Babylon's answer is a little different. According to David, there is no reason to separate the two - good infrastructure is a product in itself.
That's pretty impressive, right?
And perhaps, this idea is most clearly seen in TBV's current direction. Now their main focus is native Bitcoin-backed borrowing through Aave v4. That is, first, a real product will be shown that the infrastructure really works. Then the next step will be determined according to the experience and needs of users. Oh yes, and listen, this is not just word of mouth. Work is already underway on Fixed-rate borrowing, covered call strategy. They don't want to stop at borrowing. They also thinking about future uses like Bitcoin-backed stablecoin, credit card and insurance. Honestly, this is where it seems a bit strange to me. Usually many projects first show a big vision, then try to build a product accordingly. Babylon seems to have chosen the opposite path.... first a usable product, then build an entire ecosystem based on that experience. However, this division is new to me. Infrastructure and product - maybe we always see it separately, but in reality the success of one can be proof of the other. But I could be wrong. But, I'm still thinking about this - if the mainnet goes live in October as planned and TBV can actually provide that experience, then the question will not be just "another BTCFi protocol".
Hmm, maybe that's why I see Babylon's Trustless Bitcoin Vault not just as a Borrowing Product, but as the basis for a potential financial ecosystem built on Native Bitcoin. Time will tell, how much this idea can become a reality🤔
Listen, actualy many projects call themselves infrastructure, while others introduce themselves as product companies. But Babylon's answer is a little different. According to David, there is no reason to separate the two - good infrastructure is a product in itself.
That's pretty impressive, right?
And perhaps, this idea is most clearly seen in TBV's current direction. Now their main focus is native Bitcoin-backed borrowing through Aave v4. That is, first, a real product will be shown that the infrastructure really works. Then the next step will be determined according to the experience and needs of users. Oh yes, and listen, this is not just word of mouth. Work is already underway on Fixed-rate borrowing, covered call strategy. They don't want to stop at borrowing. They also thinking about future uses like Bitcoin-backed stablecoin, credit card and insurance. Honestly, this is where it seems a bit strange to me. Usually many projects first show a big vision, then try to build a product accordingly. Babylon seems to have chosen the opposite path.... first a usable product, then build an entire ecosystem based on that experience. However, this division is new to me. Infrastructure and product - maybe we always see it separately, but in reality the success of one can be proof of the other. But I could be wrong. But, I'm still thinking about this - if the mainnet goes live in October as planned and TBV can actually provide that experience, then the question will not be just "another BTCFi protocol".
Hmm, maybe that's why I see Babylon's Trustless Bitcoin Vault not just as a Borrowing Product, but as the basis for a potential financial ecosystem built on Native Bitcoin. Time will tell, how much this idea can become a reality🤔