Bitcoin (BTC) $ 101,184.00
Ethereum (ETH) $ 3,403.68
Tether (USDT) $ 0.999883
XRP (XRP) $ 2.34
BNB (BNB) $ 947.34
USDC (USDC) $ 0.999795
Lido Staked Ether (STETH) $ 3,402.18
TRON (TRX) $ 0.294362
Dogecoin (DOGE) $ 0.168803
Cardano (ADA) $ 0.543697

Native Bitcoin as DeFi collateral? Babylon thinks they’ve cracked it

Babylon Labs says it has built a system using BitVM3 that allows native Bitcoin to be used as trustless collateral for borrowing on Ethereum, but its trustless design raises questions.

🔗 Read Full Article

💡 DMK Insight

DMK Insight: Babylon Labs' innovative use of BitVM3 to enable Bitcoin as collateral on Ethereum could reshape lending dynamics in the crypto space. However, the trustless nature of this system invites scrutiny regarding its security and reliability, potentially impacting user adoption. As the market evolves, the balance between innovation and trust will be crucial for the success of such cross-chain solutions.