aboutyourthinking

@BabylonLabs_io WBTC and cbBTC combined are under 1% of Bitcoins total market cap. That's the actual number the whitepaper opens with.

Bitcoin has a larger market cap than every other crypto asset combined. Over 99% of it sits outside any smart contract system entirely.

Two barriers, both named directly:
Bitcoin's scripting language can't natively express general Purpose contracts and the bridges that exist to move BTC anywhere else are either centralized or carry heavy trust assumptions.

Not saying wrapped BTC is worthless WBTC and cbBTC exist because some demand exists for BTC inside DeFi even at meaningful trust cost.

Not saying the under 1% number means adoption failed either. It means the trust cost has been high enough that most BTC holders decided against it which is a different conclusion than nobody wants this.
#baby
Aave alone carries roughly $57B in TVL WBTC and cbBTC combined dont reach a third of what ETH tokens alone contribute to that same protocol. Thats the gap Trustless Bitcoin Vaults (TBV) is aimed at not competing with existing wrapped BTC closing the reason people avoided it in the first place.

What I have Not worked out is whether that under 1% figure moves meaningfully once TBV has real usage data, or whether most BTC holders who avoided wrapping will keep avoiding any onchain participation regardless of the trust model underneath it.
#AboutYourThinking
$BABY $BANK $ESPORTS