The way has been opened for Bitcoin (BTC) to be used in decentralized finance (DeFi) services based on the Aptos blockchain.
Liquid re-staking protocol Bedrock announced on the 5th that it will expand the interest income and trading liquidity earned from BTC deposits to the Aptos ecosystem. This will allow users to utilize uniBTC and brBTC in Aptos-based DeFi, creating new investment opportunities.
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BTC's proof-of-work (PoW) mechanism prevents staking. Using the Liquid re-staking protocol, BTC can be tokenized and transferred to other networks, such as Ethereum or Aptos. Bedrock currently supports BTC re-staking on 17 chains.
A Bedrock official said, “BTC is the world’s largest asset, but its use in DeFi has been limited so far,” and added, “This entry into Aptos will be a turning point for BTC to be used in DeFi in earnest.”
- Reporter Do Ye-ri
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