Markets often treat Bitcoin collateral as something each protocol must build independently. A more interesting possibility is that Trustless Bitcoin Vaults (TBV) make native BTC function as a shared margin layer instead of isolated collateral. That shift deserves more attention than another product launch. @BabylonLabs_io $BABY #baby
When collateral becomes portable without wrapping, bridging, or intermediaries, liquidity can support more than one ecosystem without losing its native properties. The structural value is not only better capital efficiency but a common trust foundation that different applications can build upon over time.
The real milestone is not borrowing itself. It is the emergence of native Bitcoin as infrastructure for coordinated financial activity across chains. Durable networks are often defined less by new features than by how widely a trusted foundation can be shared.