• bitcoinBitcoin (BTC) $ 113,976.00
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 4,404.37
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  • zksyncZKsync (ZK) $ 0.061381

Sui Network Launches BTCfi to Transform Bitcoin into DeFi Capital

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Sui Network Launches BTCfi to Transform Bitcoin into DeFi Capital

Bitcoin is no longer mere passively stored value. BTCfi is a new product by Sui Network that transforms Bitcoin into DeFi active capital. Users are able to trade, stake, lend, or compile complex tactics. Such a transition opens new opportunities of additional yield to the long-term stashers of Bitcoin. According to the Chainlink news, the activity on the Bitcoin network is likely to expand by 15 percent.

Programming of Move Power

Move eliminates these flaws through the secure ownership of digital assets. A study carried out by the Cybersecurity Journal in 2022 affirmed the reduced exploit risks. The developers have the capacity to develop safer lending and trade protocol of BTCfi. BTCFi flourishes when accompanied by Sui DeepBook, which is a decentralized order book. DeepBook is a liquidity pool that consolidates the liquidity of various DeFi protocols in real-time. This gets rid of the pools of fragments in other blockchain environments. Sui has benchmark figures of 120,000 transactions per second. The low fees and immediate execution will provide an optimal environment to BTCfi to trade.

Comparing Sui and Ethereum DeFi

Ethereum pioneered DeFi with Uniswap, Aave, and Compound protocols. Gas fees and network congestion often limit smaller DeFi participants. Sui’s parallel execution offers faster and cheaper transactions. DeepBook’s centralized order book style is unique versus Ethereum’s AMMs. However, Ethereum still leads in DeFi adoption and TVL dominance. BTCfi could draw Bitcoin liquidity away from Ethereum protocols.

Future of BTCfi

Sui BTCfi has connected Bitcoin to an active DeFi environment. The interest of institution increases when BTC has yield potential in the real world. More lending, staking, and derivatives tactics are in the works of developers. BTCfi presents Bitcoin as a store of, and a source of value.

Source

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