The Case for DeFi on Bitcoin
summary
Argues that Bitcoin-native lending is feasible and needed, with Zest Protocol using hash time lock contracts on Bitcoin + the Stacks programming layer to mint LP receipts and swap into wrapped BTC, launching a Maven 11 / Credora pool in Q4 2022 and a testnet on Oct 20. Claims similar systems issued ~$1.7B in USDC on Ethereum and lenders have done >$700M with zero defaults; targets 4–6% APY in BTC, uses undercollateralized loans, KYC for borrowers and optional permissionless pool.
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chapters (13)
- 0:00DeFi on Bitcoin intro
- 1:06Why Bitcoin Finance matters
- 2:31Who benefits
- 3:56Risks of centralized lending
- 6:05How DeFi works
- 7:50Transparent credit system
- 8:53Why now for Bitcoin DeFi
- 9:54Zest Protocol launch
- 11:21Protocol deep dive
- 13:51Key risks and management
- 16:45KYC and borrower rules
- 17:49Smart contract vs custody risk
- 18:34Q&A
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