Bitcoin & Defi

[Evgenklm]

The bitcoin blockchain was one of the first to appear, the defi sector is now widely developing. Why do I not know more than one defi exchange on the bitcoin blockchain? After all, there are a lot of similar exchanges on the same Ethereum, and they still work despite high commissions. If there is a defi exchange on the bitcoin blockchain, write in the topic .. Or am I misunderstanding something?

[mu_enrico]

BTC is not a smart contract dapps platform, so it can't have DEX like Uniswap. BTC is simply a currency on which you can send/receive coins. It's simple yet robust. If you want smart contract capability, IIRC I've read somewhere that tokens exist on BTC forks, both BCH and BSV. They may tweak the code so its chain can support smart contracts, thus support DeFi and stuff. However, if you still want to use "BTC" but in DeFi environment, you can use wBTC and stuff.

[Evgenklm]

BTC is not a smart contract dapps platform, so it can't have DEX like Uniswap. BTC is simply a currency on which you can send/receive coins. It's simple yet robust. If you want smart contract capability, IIRC I've read somewhere that tokens exist on BTC forks, both BCH and BSV. They may tweak the code so its chain can support smart contracts, thus support DeFi and stuff. However, if you still want to use "BTC" but in DeFi environment, you can use wBTC and stuff.

I know there is an RSK network built on the basis of the bitcoin blockchain, and there are also defi exchanges on this blockchain, it seems to be called sovryn.The commission is paid in this network with bitcoin, and transactions are quite fast and cheap.

[Lukasz]

I am actively looking for projects offering return on "locked" bitcoin I know of STX stacks that for trustlessly staking BTC with their protocol offers returns on this lock. I am sure that there are some projects out there that involve such services and I am looking forward for recomendations

[mu_enrico]

I know there is an RSK network built on the basis of the bitcoin blockchain, and there are also defi exchanges on this blockchain, it seems to be called sovryn.The commission is paid in this network with bitcoin, and transactions are quite fast and cheap.

RSK is ETH based, but uses merged mining with BTC. Sure, it has all ETH capability, but it isn't BTC based.

I am actively looking for projects offering return on "locked" bitcoin I know of STX stacks that for trustlessly staking BTC with their protocol offers returns on this lock.

Careful with the rug pull and the like. Once you transfer your BTC to address you don't control, you don't own it.

[TomPluz]

I am wondering the same thing why there is no involvement of DeFi in Bitcoin. And lately I learned that there are now a few projects working on this area but they have not yet a working product that they can open to the public so this is just under development but surely this is coming. Smart contracts should be coming to Bitcoin so it can play a part in the expanding DeFi movement. And I am so willing to support a project doing something on this idea.

[KryptoBull]

I heard there is a project to build smart contract for Bitcoin, if they succeed, we will have DeFi for Bitcoin. Currently wBTC is the better choice for BTC holders, and they can use wBTC easily to get DeFi profit.

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[syedrasool2011]

Bitcoin is going so strong from fews days its pumping but defi project are dumping since 1 year I think defi project rally is over its metaverse project and memes coin time to explode buy them and hold it.

[rizqillah]

Bitcoin is going so strong from fews days its pumping but defi project are dumping since 1 year I think defi project rally is over its metaverse project and memes coin time to explode buy them and hold it.

Defi trend has passed mate, I think gaming coins and metaverse will be shine at this year. Also web 3.0 projects.
Bitcoin is the King of crypto, It will survive and more potential than other.