BTCFi: SatLayer Nested to the Top
Last month, it received $8 million in Pre-seed funding from institutions such as Hack VC, Franklin Templeton, and Amber Group.
For VCs, the degree of involution of BTCFi is basically the "reStaking" of the second half of this year, although the track has already shown signs of bloating, but the enthusiasm of VCs has not diminished at all.
For BTC holders, Nested +1:
1. Project Principle
SatLayer has basically replicated the principle of Eigenlayer. It receives BTC derivatives (BTC LST) from various reStaking platforms, Nested +1, and the SatLayer platform charges fees by providing enhanced security for other applications in the ecosystem, allowing users to obtain multi-layered Nested returns (Babylon returns, reStaking platform derivative returns, SatLayer returns).
2. Supported Assets
UniBTC/SolvBTC.BBN/LBTC/PumpBTC/FBTC
3. Protocol Status
Season 1 depositors enjoy early bird rewards, which quickly reached the limit of 100 BTC. Currently, Season 2 has been launched, and the deposit limit has been increased to 400 BTC.
Official Tutorial: blog.satlayer.xyz/tag/guides
SatLayer app: tinyurl.com/cmdefi-satlayer
4. Summary
Currently, Pendle has also entered the BTCFi field, and it may support more protocols in the future. Although the overall market sentiment is much weaker than the first half of the year, BTCFi is still a very important direction in the VC layout sector. The narrative depends on the acceptance of the services provided by Babylon in the market. Like ETH reStaking, the current performance is rather sluggish, the fundamental reason being that there are too many infrastructures and services, but too few customers. However, in the long run, it at least provides a new possibility, and how many people will use it depends on the development of time and the market.
As for the current strategy, if you don't want BTC to just lie in the exchange, the lowest risk way to participate is to mine the logic of 1 pool, rather than to buy. Provided that the security is well examined, if you are not optimistic about the market in the next 1-2 years, you can mine, withdraw and sell it as a financial mining. If you are optimistic about the outbreak of the next xxx Summer, you can mine, withdraw and hold to accumulate chips.
