@Spade_Max27@babylonlabs_io@Coredao_Org True. But fee sensitivity is still a big barrier. BTC holders are used to holding, not transacting. Convincing them to pay fees to earn yield is a harder sell than it looks. That said, the potential is massive.
@hashReporter@babylonlabs_io@Coredao_Org Exactly. Self-custody is basically crypto 101. So, when we can have more users earning on native BTC without giving up it up, then adoption will hit the roof.
This is why collateral risk matters more than people think. Not all assets are equal. Not all bridges are safe. Do your own research before depositing anywhere.#DeFi#Aave#Crypto
Aave's contracts were never compromised. The risk came from accepting a collateral asset that depended on a bridge. In DeFi, you're only as safe as the weakest protocol you're connected to.
We are implementing upgrades to our cross-chain DVN configurations following the recent rsETH incident.
These updates are precautionary and reflect our ongoing approach to maintaining robust security standards across integrations.
Completion is expected by 26 April, with further updates to be provided as needed.
@Spade_Max27@babylonlabs_io@Coredao_Org Self-custody is the key word. The moment users can earn yield on native BTC without giving up control, adoption will accelerate. That’s the real unlock for BTCFi.
@hashReporter@babylonlabs_io@Coredao_Org I couldn't agree more. Bitcoin DeFi is not as proven as ETH DeFi. Many users are still sceptical about putting their BTC to use. But I believe the more protocols that support self-custody, the more traction BTCFi gets.