Scaling On-Chain Yield: What Comes Next for BTC and ETH
The demand for on-chain yield continues to grow, driven by stablecoin growth and the rapid expansion of RWA tokenization. And the more desirable high returns in DeFi become, the greater is the focus on the underlying infrastructure behind those returns. Supporting on-chain yield at scale requires a rethinking of DeFi liquidity design to accommodate larger capital flows. Naturally, as this transition is taking place, a lot of people look towards Bitcoin. As the largest cryptocurrency — and the most underutilized one — it is a major source of untapped potential.
The thing about Bitcoin is that, for a long time, it was intentionally passive. You held it, you didn’t touch it, and you didn’t expect it to really work and generate yield for you. In part, that was because earning any meaningful returns on BTC in DeFi felt generally impossible for many years. Even the best opportunities typically capped yields...
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