Space Summary
The Twitter Space Bitcoin Renaissance w/ SolvBTC hosted by babylonlabs_io. Dive into the Bitcoin Renaissance with SolvBTC, where experts explore the significance of unlocking 21 million Bitcoins for securing the decentralized economy. Discover the pivotal role Bitcoin plays in reshaping financial systems, democratizing wealth access, and fostering economic stability. Expert insights on innovative security measures for Bitcoin holdings shed light on the future of digital currencies and financial sovereignty.
For more spaces, visit the Unique Projects page.
Questions
Q: Why is Bitcoin's limited supply significant for economic stability?
A: The scarcity of Bitcoin's 21 million cap ensures long-term value preservation and prevents inflationary pressures.
Q: How does Bitcoin contribute to securing the decentralized economy?
A: Bitcoin's decentralized nature fosters financial sovereignty and hinders central control over monetary systems.
Q: What are experts saying about the future of digital currencies like Bitcoin?
A: Experts foresee Bitcoin playing a pivotal role in reshaping traditional financial infrastructures and democratizing access to wealth.
Q: What impact does Bitcoin have on existing financial systems?
A: Bitcoin challenges conventional financial norms by offering a decentralized alternative that is resistant to censorship and manipulation.
Q: How are innovative solutions enhancing Bitcoin security measures?
A: Innovations like multi-signature wallets and secure cold storage methods are evolving to fortify Bitcoin holdings against potential threats.
Highlights
Time: 12:05:29
Bitcoin's Scarcity and Economic Stability Insights into how Bitcoin's limited supply ensures long-term economic stability and value retention.
Time: 12:15:17
Decentralization and Financial Sovereignty Discussions on how Bitcoin empowers individuals with financial independence in a decentralized ecosystem.
Time: 12:25:40
Expert Views on Bitcoin's Future Impact Experts sharing perspectives on how Bitcoin is reshaping traditional financial systems and investment landscapes.
Key Takeaways
- Importance of Bitcoin's limited supply for economic stability.
- Role of Bitcoin in securing the decentralized economy.
- Expert insights on the future of digital currencies.
- Discussions on the impact of Bitcoin on financial systems.
- Exploration of innovative solutions for Bitcoin security.
Behind the Mic
Sadeena
Sadeena. Sadeena.
Starting the Show
Right. All right, let's get the show started. Yes, I can hear you. All right, let me get rude to mute the music here in a second. You can hear the music too, right? Isn't that just me going crazy? Yes. Okay, so I just messaged Ru, and hopefully we get that figured out here in a minute.
Checking In
All right, we did it. Hey, Ryan, how you doing? Yeah, I'm doing well. How about you? Doing good. I want to thank you first, because I know it's early where you're at right now, so you maybe haven't had your coffee yet. You know, you're just getting up, and so really appreciate you joining us. Yes. I just got an Americano, and it's 07:00 a.m. in Singapore, so. Yeah, but I think. Yeah, I feel good if I can get out early.
Future Events
Yeah, that's awesome. Are you gonna be there for token 2049? Yeah, for sure. For sure. I live in Singapore, so of course, like, 2029 is our. The main kind of the venue. Right? Yeah. Just. Just curious, how is it, like, whenever there's an event that's happening, you know, where you live at? It is. How's the experience different than having to travel for it?
Event Experiences
So, yeah, I think it's. I think it's pretty crowded every time. Yeah. When it comes tokyo 2049 especially, there's an f one kind of race as well. Right. So I think. I think, like, the other price of, like, the hotel and the food become crazy and. Yeah. But I think it's pretty good that a lot of people can really, you know, gathering here and that we can, like, you know, catch up with each other, and that's very efficient and very exciting.
Connections and Plans
Yeah, no, definitely. I hope you get to catch up with some of the members from Babylon. I know that we're going to have some team members over there, so hopefully you guys get a chance to talk to each other and plan some great stuff out, you know? Yeah, we do have a plan to talk to, like, Fischer Xing Shu Chudi, those of the team members of, like, Pablo. Yeah, Fisher co founder. Trudy is one of our team members from BD, since you just. Those are all super kind and super smart people, so. Yeah, you'll have a good time with them.
Introduction
Yeah, I agree. So, Ryan, could you maybe give you a quick intro into yourself, and then I'll follow up and then we can get started? Sure, sure. This is Ryan from self. I'm the founder of Sol Protocol. So salt protocol, I think it's been, like, funded from late 2020. So it's been four years since inception.
Founding Vision
And at the beginning, we just built a new token standard. It's called ERC 3525. And we tried to leverage the token standard tokenize different kind of yield bearing assets on chain at that time. It's not called LST liquid staking token, but at this moment, I think more and more people would diminish all those of, like, the tokenized you bearing SSS RST. So that's what were doing.
COVID Influence
Yeah, it's like you had the vision before anyone had a name for it. Yes, that's very cool. So you mentioned that, you know, it came about late 2020. Tell me how that was. That that's during, you know, Covid year. How did Covid and kind of, like, determine that you were going to do this? Like, how did. How did it affect you guys?
Challenges During COVID
Yeah, I think Covid, of course, it's a very tough kind of period for most of the startups. So for us, I think we are inspired by NFT and also some of the ERC 20, the Defi summers kind of innovation. So we realized that why not build a new token center like ERC 35 25 to really bring kind of different type of the yoo bearing assets on chain. So I think that's inspiration. And so that's why we built that token center and keep, like, you know, bringing different, bring different types of the EU bearing assets on chain.
Financial Struggles
Yeah, so I think very interestingly, like, in terms of, like, the COVID I think it's pretty tough. that, and that because, like, during the period we do, like, raise. We did raise around, like $12 million at the beginning. But the point here is that, like, after, like, the two years kind of building, like, almost like over 80% of the cash already being burned. So I think at that time, everyone entertainment kind of was a little bit frustrated. But finally we get, like, you know, survived through the bear market and also the COVID So, yeah, that's, that's very interesting.
Creation of Solve Protocol
Yeah, I always wonder about those companies that I feel like, kind of come together because of something like Covid happening and you know how that workflow is, like. And so that's very interesting to get that behind the scenes with you guys right now. So that's whenever you guys came up with solve protocol, were you guys already thinking about solve BTC or when did that come about?
Future Prospects
Yeah, I think that's also a good, very good question. So we are. We were considering about like the BDC u bearing subs from late 2023. So actually it's just like around like one year ago. So at that time we realized that like the BDC kind of u bearing stuffs would be the future. Especially we are seeing, we can see, we foresee like the bitcoin halving could really make a lot of parties want to like promote the growth of BDC five ecosystem.
Market Trends
And also we can see like some of the chance that more and more BDC holders, they just want to participate into the BTC ecosystem. Firstly, because of, I think, the craziness of the hype on the drawings ordinals or those of the BDC related assets. And also we can see the Babylon as a very kind of promising kind of. The projects are also like dollar come out in 2024. So yeah, I think that's all the things that we can see.
Entering the BTC Ecosystem
So that's why we decided to like, you know, really dive into like the BDC related kind of yield bearing assets. Because before we dive into like the BDC ecosystem, we also like provided like stable coins, new bearing assets, and also Ethereum, Uber assets. But at this time, we also tap into the BDC related assets through working with GMX.
Trading Strategies
So GMX is one of the largest perp Dax in the space. So we allow the users to really be able to generate yield through trading strategies on GMX. But the point here is that most of the trading strategies capacity is quite, you know, limited. Right. So we don't think like, you know, the chinese geologists could really allow us to, you know, to build a very kind of.
Challenges of BDC
To have a very high ceiling to serve, given the large amounts of like, the bdcs. But we realized. But we found out that like, babylon is the one that we are really kind of fascinated with that could really provide a sustainable youth to the BTC assets. We're really glad that you feel that way. Obviously, you know, a little bias. We really like what Babylon's doing and going to be able to provide different protocols like yourselves.
Yield Generation Difficulties
Just maybe just me being curious. You talked about working in a lot of different ecosystems, providing, you know, yield. How. How difficult was it? Which one would you say was the most challenging when it. When it came to working those different ecosystems? Yeah, so I think like the. I think, like, it depends on like, different type of the assets.
Variability in Assets
So when it comes to like, you know, the stable coins, I think we can find out that there are varieties of use source. Right. Including like other ways. So like t bills and also a lot of kind of, you know, trading strategies, including like, funding rate arbitrage, like what Athena did. Right. So there are different types of the, you know, the stable coins related kind of use and also when it comes to, like, bitcoin.
User Base Challenges
So we can. It's really difficult to find out that many kind of BTC users. So because, you know, like two years before, two years ago, there's no trading strategies around BDC. Because, like, at that time, all those of the centralized exchange and also all those of the DeFi are still not allowed. BDC could be using as a collateral for margin trading. So that's why it's really difficult to really generate a BDC related use.
Evolving Strategies
So from two years ago, there are some trading strategies come out. And from like 2024, we can find out that the staking use just came out. So, yeah, I think that's all the trend that we can see. So I know you've kind of touched on this, but I want to see if there's anything more specific.
Generating Yield
How can solve BTC users generate bitcoin related yield? Exactly. For sure. So I think, like, in terms of the solpt, BTC itself is something one to one packed to the BDC. So we allow users to deposit, like, native BDCB and also like some other type of the red BDC into our votes to mint soft BDC.
User Experience
So I think it's kind of like a cash management solution that the users could, like, earn soft tokens through, like stake their BDC into soft. So it's pretty simple and just also very, you know, very easy kind of user experience.
Introduction to Soft BTC and Its Benefits
Just stick and then get soft points and. Which could worth some money. Right. So it's kind of like free money in terms of like. So BTC kind of the products. So, but why we build this product is all because we just try to build a gateway for the users to participate into like the, you know, the BDC five ecosystem. So the users, firstly, one click to participate into BDC five. And then there would be some kind of like the use source for the users to, you know, to really be able to get it if they want to have. So like say, we allow users to deposit their soap BDC into Babylon vault that we built on the platform. So it turns out that if you chain, if you transform your sub BDC into so BDC Babylon, it means that your BDC being like, transferred to Babylon to be staked. So that's why you can earn Babylon staking use as well.
Product Architecture and User Experience
So that's how the product architecture looks like. Yeah. All right. So I know that there's other lsts out there. So if someone were to ask you, Ryan, like, what is it that makes solve BTC different from these other lsts? What would you think that's like the main thing that you want them to take away and to single you out. What's unique about Sol BTC? Yes, I think currently, I think there's several points here. One is that we're the largest BDC liquidity pool in the space. So we got like 20,000 bitcoin being staked into our protocol already. So I think this is the largest kind of liquidity pool that we are able to really kind of, you know, support Babylon for over 10,000 BTC very easily. Because there are so many users from south that already like quite interested in like, Babylon. They are around like 370,000 users on soft at the moment. Yeah, they are there a lot. I can share some like Dandel later. So. Yeah, so that's why I think this is the first advantage or the first difference.
User Experience and Accessibility
Right. Because we are already the largest speedy city could have pooled. That could help a lot help like the Babylon ecosystem to grow. And the second one is that I think we got like we have the. And also the reason behind this is that we do have the best kind of user experience. I mean, the products use experience in the space that will allow users from, like no matter from finance, from OKX, from Coinbase to really be able to deposit a BDC very easily through different ecosystem. Say, let's take BnB chain as an example. So we deploy our products on BNB chain. So all the users from binance are very easily, very easy to redeem their biddies into like BDS BNB chain. And then they deposit into self done so. So that they can earn the use like the Babylon use their self on BNB chain. Right. You don't have to really, you know, like interact with bitcoin. A lot of different things. Yeah, yeah.
Challenges in the BDC Ecosystem
It sounds like there's a lot of easy use than going through salt BTC. Yeah, that's nice. Because you don't want to make it complicated. Yes, yes, exactly. I think like the BDC ecosystem is way. This is quite different from Ethereum ecosystem, which like user experience and also like the, like this very. I think the, like the simpler the use of the experience, the users more. The more users could come. Right. But in terms of the Ethereum, it's quite. There's legitimacy around Ethereum minutes. So everyone gonna like take Ethereum minutes. But in terms of the BDC is nothing. So some of the BDC being stored into ledger. Some of them being stored in like binance or like Coinbase. So the users really don't want to like put their BDC into like somewhere else. Very kind of complicated. So, yeah, so that's how we see.
Towards a Thriving Defi Ecosystem
That's the second point. And the third point is that we do like provide, you know, different types of the, you know, the use cases and also the scenarios around like. So BDC. So that users could really able to bring this token to different type of ecosystem to farm additional points or like do lending, do trading, and also the yield trading, all those of the stuffs. So I think there are a lot of kind of scenarios here. Yeah. Awesome. Thank you for sharing those three points. Obviously, we know that bitcoin is not. Doesn't have a smart contract. It's not a smarteende chain. Is very limited in what you can do. You know, they do have scripts. So there is a limited program ability. How do you think solve BTC addresses any challenges that there is in that? And that bitcoin is limited programming program ability.
Integration Challenges and Originality
Sorry, excuse me. And my follow up to that is like, how does it. How does solve BTC help when it comes to defi integration? Yes, I think like the. I think like the most difficult and innovative parts already being like solved by Babylon. Right? So Babylon take like the time lock kind of all those other related kind of technologies on like the bitcoin maintenance to really able to make users to be able to like stick to BTC or maintenance through like script. I. So I think that's something very innovative. I think that's why people are quite kind of bullish. And in terms of solve, it's more like we more focused on the gateway kind of perspective. So we really try to.
Focusing on User Accessibility
I think we try our best to really be able to reduce the friction and reduce the. To lower the barrier for the users to participate into BDC five. So that's why I just mentioned and introduced that we allow different type of the users to participate into BDC five through Ethereum, BNB, chain, arbitraung, and also all those of the BDC out tools. Like Bob, like Merlin, all those of the BDC out tools. So I think this is the first thing that we have done for the BDC five ecosystem. And then the second one is, of course, as you just mentioned, the defi integration stuff. I feel like currently the BDC system, really the biggest challenge here is the assets is not enough. So if you want to do lending, at least there should be some u bearing assets come out.
Need for More U Bearing Assets
Right? And then you collateralize that u bearing assets to borrow more stable assets and then to leverage it. No matter it's a recursive reinvestment or no matter it's some other kind of purpose. I think we do need to create more assets. So BDC is the assets that really help the users to test that incentives to do lending, do trading and do the other stuff. So I think the defi infrastructure is pretty mature now after the four years kind of development since like the 2020. Right. So I think that it's just a matter of like, we need to really involve more assets. I mean, like the BdC, u bearing assets into the space. Then we can really make the, like the BdC five or BDC defi ecosystem to be thrived.
Mainnet Launch Experience
Yeah, exactly. Now that's, I think, exactly what is going to lead to more continued growth. So August 22, an important day for Babylon. We went Mainnet. Tell me, how did Mainnet go whenever went main, how did you guys take it as a team? Like, what were your expectations? How did you feel after we filled up after six blocks? Just give us a little behind the scenes on how the team perceived that main net. Sure. So I think, like, so very interesting. I think I want to share more details around it. So before the mainnet being launched, we did some tests. So we allowed the users to deposit soap bds into the Babylon vault one month ahead of it.
Pre-Launch User Engagement
So every single week we allow users to open the vault, open the cap, like, for the users to deposit BDC. And we take. We set up like, you know, 500 BTC cap. So, but very interestingly, like the, like, it's just like several minutes to be, like the cap to be, you know, to be filled up in just like several minutes. Like two minutes. Yeah, that's crazy, right? So I think we just try to, like, allow the users to, you know, to make the decision by themselves. We don't really want to like, you know, sell something. Right? So it's a defi project. So we just like, allow users to. We open the vote here.
Community Enthusiasm for the Project
Everyone can participate. But it turns out that, like, people's kind of. People are so bullish on like, Sol plus Babylon kind of the combination. So that's why they just deposit BDC. So before the mainnet launch, there's already like 2500 BTC being staked from like 2020, 7000 users already. So that's why. That's why actually, we feel a little bit pressure that there are a lot of BDC here. So by the first kind of app, like the epoch of like the Babylon, it seems it's just like 1000 BTC. So that's why finally we just got like 250 of the, of the BDC being staked into like the vote successfully.
Final Thoughts on Project Growth and Adaptation
Because there's a limit. If there's no limit, maybe we gotta take most of it, right?
User Needs and Support
Yeah, yeah, but that's the point. So, so we. That's all the needs from our users. So we need the. We really followed our users. Kind of the, kind of the, you know, the needs a. We just try to serve them. So yeah, that's why. That's great.
Excitement and Anticipation
Yeah, yeah, were excited and yeah, it was crazy to see just, you know, how quickly it filled up. But, you know, you guys are seeing things fling up 1 minute, two minutes that you're right, that does create. It's first, it's exciting because it means people are excited for this. You know, they're wanting it. And then it also gives you that pressure you're talking about because they're expecting, you know, something to come out of it. So it is exciting times, I think, to be doing this. We're definitely excited for the next caps that are to come.
Expectations for Growth
And I was just going to ask you, what are your expectations for Sol BTC as the caps continue to grow, as mainnet continues to expand? How do you see its adoption and growth going on? Yes, for sure. I think currently after the mainnet launched, I think the volume on soft end is still keep grow. So like say, currently there are around like 4000 sub BDC out there. I mean, so BDC Babylon out there that are waiting for, you know, depositing BDC into like Babylon.
Looking for Participation
So I think like finally there should be over 10 00, 10,000 BDC. So we just try to like, you know, like also promote like the Babylon team to see when. When. When you can really be able to, you know, to open the gap for us to participate. Yeah, so I think that's the first thing. The second thing is that like currently there are four thousands of BDC, the Babylon. And that's. It's something that there's only 250 BDC.
Capital Accumulation
Kind of like the. Yeah, kind of the capital or like the corresponding kind of the quota being like getting the. Is accumulating the points. Right. So it's not enough. It's not enough. Of course, every single BDC deserved to be staked into Babylon to get used. Right. So I think that's something. Yeah, that we are waiting for. But I think simultaneously we try to like, you know, bring some BDC Babylon to different type of the chains, different type of the defi ecosystem to, you know, to enhance the, you know, the utility of the sodist of Babylon.
Expanding Use Cases
So including like the landing, we try to work with like, no matter like some other compound Avi Venus or those of landing protocol. And also the dag flight curve, like Uniswap and some others, we already deploy like liquidity on like curve and uniswap already. And also in terms of like the, also like the panda one, we do have like a cooperation with like Korn, pando and Babylon A as well as like the Lombard. So I think that's something quite kind of promising.
Promoting Use Cases
Also exciting for us to really promote all those of the use cases to be push out. So that's it. Yeah, that's really exciting. And you pretty much answered my next question, which was if you could speak a little bit about Solb two Babylon, maybe I'll ask you to expand a little bit. And what you see its role in bitcoin staking and then defi as a whole, if you can just speak a little bit into that. But you pretty much answered what I was going to ask you about that.
The Future of BTC Staking
Reading my mind for sure. Yeah. Maybe I can add one more points here, is that I think like the BDC staking would be like the future of BDC five. Because a lot of people keep ask like, what is BDC fight? Right? And people say, and people are quite curious about like the. I think like the value of BDC out two. Because they were, they would say, oh, there are a lot of kind of ethereum l two or no matter like what kind of l two it is.
The Need for BTC Layer 2
But white why we need to bring online, why we need to build like BTC l two again. So I think that's something is still quite kind of controversial at the moment. I don't think like I have answer as well. But the point here is like, the BDC staking is something that we can. It's difficult. It's always impossible to deny the chance, right? So because we can see it, more and more users just want to like participate into a bdsystem. And the BDC staking is the first step is firstly, you participate into staking first, right?
Utilizing Staked Assets
And then you get some staked assets. I mean, it's so called LSt, like, so BDC the bubble. And then you take these assets to do a lot of cool stuffs. I mean, like the DeFi related stuffs, leverage investment and also yield trading and also lending and some other stuff. So I think that's all the things that we can. We can we can we get. We can find out strong demands behind it. So, yeah, that's why I think, like, BDC sticky.
Key Success Factors
So it's. I'm so bullish into this. Yeah, we are too. So since we're kind of talking about this already, we're talking about, like, you know, some factors that will determine the success of bitcoin staking. What would you consider to be, like, the key things that need to happen? And in your opinion, you know, it doesn't have to be. You don't have to be worried about being right or wrong. But in your opinion, what are the key factors that you think will drive that success of bitcoin staking?
Building Sustainable Yield
Yeah, I think, like, the only one key thing in my mind is to build a sustainable yield bearing assets here. So I think this cycle is different from the last cycle, which is, like, for the last cycle, people are more caring about to build infrastructure and then allow users to build application or decentralized application on the ecosystem. But for this cycle, we will find out that more and more infragestors came out.
Oversaturation in the Market
I think it's too much. There are too many kind of l two s, l one s, and even, like, l three s. Right. I think there's too many. So the point here is that, like, most of the users really don't want to, like, you know, doing. Landing on, like, ten chairs. Right. This is unnecessary. So people more care about. I got BDC, so where can I get my BTC use? And also, like, where can I, like, really, you know, be able to make that yield sustainably sustainable?
Understanding User Needs
So I think that's the key thing. So, like, baboon really, I think, is the first kind of the. Kind of the bitcoin maintenance kind of the innovation that allow users to stake their BTC and then leverage this BTC to see to enhance the security for, like, all those of the other chains or abs. So I think that's the point. So that's the point that users can really be able to, you know, to enjoy your bearing assets, because we think we can see the other things from your bearing assets perspective.
Promising Future for BTC
Right. So that's why I can tell, like, most of the users really care about this part. So, yeah, so I think. I think the key thing is, like, so BDC Babylon, I mean, like, the Babylon LST should be huge or could be huge. I think it could be, like, at least $10 billion, right? Maybe like hundred billion dollars. So it's something that quite crucial for the whole BDC five ecosystem.
Relationship of Bitcoin Staking and DeFi
Yeah. So, you know, you talked about the importance of bitcoin staking. And I just want to get your perspective on how do you think the relationship between bitcoin staking and DeFi solutions will be going on forward. Do you think there's just like a perfect harmony? Or how do you see that relationship growing as the years go on? Sorry, I beg your pardon? Depression.
Growing Maturity of DeFi
So I think like the voice just in. Oh, sorry, let me repeat that. So we've been talking about the importance of yield bearing for bitcoin users would be bitcoin staking. And we mentioned how they want to be involved in BTC fire or Defi solutions. So I was asking you about the relationship between those two going forward years down the road. Do you see it always being like harmonious or how do you see it evolving together?
Maturing Infrastructure
Yes, I think as I can see, as I just mentioned, all defined infrastructure are pretty mature. So I think from my perspective, like Pendle, I think already I think they are one of the most successful projects in the space that allow users to trade, to bet on the yields. I think the point here is that this is the defi innovation that most of the users can understand.
Complicated Innovations in the Space
I think just a part of the users can understand, not every single users for mass adoption, most of the users could not understand this type of innovation or even more complicated kind of innovation. When it comes to more complicated application, no one gonna understand it. So that's why I think, like Pando is the signal of like the maturity of DeFi, actually.
Ecosystem Growth
So the success of Pando is already the signal here that, yeah, most of the users can, some of the users can play with it. Most of the users really don't understand. They play with line landing. That's enough. So I think this is why I say like, defi is pretty mature. And in terms of the maturity of the infrastructure, the point now here is that all the infrastructure are waiting for access.
Leveraging User Demands
So when there's like 1000, like Baron BDC come out, I mean, like, so basic babylon, then there's landing and then there's like Pando and there's like uniswap being ready to accept it and then to provide service. Right. So I think it's more like every, it's more like we need to really be able to bring all those of the Uber assets as soon as possible, as much as possible to the space and then to make the whole kind of ecosystem to grow.
Future Expectations
Like say, Pando's kind of founder TN also my friend he mentioned at a podcast recently that they expect to have another $10 billion assets TVR to be growth from BDC related assets. Of course, he's mentioning the Babylon you bear assets. So yeah, that's how I see this.
Future of BTC and Salt BTC's Role
Since we're looking into the future, we're looking at the future of BTC Fi, what role do you think solve BTC will have in shaping the future of BTC five? Yes, I think as a LST kind of the assets or the issuing platform. So I think we would be like the first would be the gateway for the users to participate into BDC five. So I think we really kind of like very take this seriously. So I think for most of the BDC holders, it's still quite confused, like confusing that how to participate into BDC five. Right. Some of them like are holding BDC on Mainnet. Some of them are holding it in the centralized exchange. So it's still quite difficult for users to interact with BDC Mainnet to participate into all those u bearing stuff. So we need to really find out the best way or best gateway to lower the barrier for them to participate into BDC five. So I think this is the first thing, the first position of soft BDC. I think the second solution is one of the largest assets class. So in terms of the DeFi is not going to be able to serve Mainnet BDC, but it's able to serve. So BDC. So I think the point here is that DeFi do need assets and we need to bring more assets.
Bridging Users with the DeFi Ecosystem
As I just say as soon as possible, as much as possible to all those of the divi. So I think asset class, we are acting as like asset origination kind of platform that allow users to create asset here and bring the assets to divide ecosystem. So we're kind of like a bridge between the whole kind of the mass adoption, mass users with the DeFi ecosystem. So yeah, that's our role. I'm awesome. Yeah, that sounds like it's going to be like the perfect marriage, I think so. I definitely see a nice little spot there for salt BTC. And doing that. I wanted to ask you some kind of like more about your community and just kind of like how you feel the sentiment is. So what are some of the most common questions or concerns that you've heard from your community when it comes to bitcoin staking or Sol BTC? Yes, I think it's still related to the SSN. So some of the users were concerned about the transparency. That if we can really make sure that to prove the transparency, the BDC is one to one. But I think it's not difficult to.
Challenges in Bitcoin Staking
Oh, I think there's a little bit, there's some small challenges, like say, because when like BTC being staked into bubble, like because it's been split into like UtxO right into it. So there's a little bit kind of uncertainty or like the clarity to, you know, to find out it's one to one, right. So I think this is one very small change, but it's quite small because finally we can find out the way to prove it. So yes, I think that's the first thing. And the second thing is about the yields, right. Because like most of the time use really matter for the users. Or like, I think for most of the users they really care about like what the use it is. I think it can be not that too high, like say just like 3%, 2%. I think it's something that already looks not bad as a BDC holders. But the point here is that how to make it happen, right? Two, 3%, how to make it sustainable. Yeah, I think at the moment there's some alpha that sophomore haven't like launched a token. So there's some like token alpha. Right. So, but the point here is that what's next?
Facilitating User Involvement with Salt BTC
So yeah, after the TG. So how to make this use to really be able to be sustainable. I think two main things here. All right, thank you, Ryan. So if for people listening, we have a nice big audience today. How can users get involved and start using soft BTC? Is there any specific resources you guys have or any guides you recommend? You mean like how to participate into soft BDC radhe? Yeah, I think currently it quite depends on where the user is sitting at. So if the users are really like the binance users, I think that's perfect. So if there are some BDC sitting in the accounts, that's perfect. So the users just need to like, you know, withdraw the BDC to the BNB chain and then deposit one, just one click and then they can participate into soft BDC. So that's like the binance users. And I would take like the Ethereum and arbitrage of the Ethereum ecosystem kind of the users as an example as well.
Engagement for Different User Types
So if you already use this on those of ecosystem, I think you should be like the WBDC holder, right? Maybe a small part of them or a portion of them are holding like TBDC so that's why you can just take like WBDC to deposit into soft. And then we can. We can redeem the like the native BDC from WBDC to, you know, policemen to Babylon as well. So that's something, that's all the process could be like monitored by some reliable third party. Car city third party, like CeFu, Cobol, all those of the party. So I think that's the second point, the second type. And the third type is like the mainnet BTC holder. I think most of the users are seeing at BDC minutes. So I think that's why the BTC holders can also deposit their native BDC into solve very directly as well. But for this part, it's a little bit different that because like the BDC manner, there's no smart contract for self custody.
Collaboration and Future Integration
Right? So we take the third party, reliable third party, mainly Cefu. Ceefu is a third party kind of regulated kind of custody service providers to custody the BDC and then to interact with Babylon. Yeah, so Brian, we love that you're collaborating with Babylon. And as greedy as we are, we should keep you out to ourselves. But we know that you have to collaborate with other protocols and projects. So do you have any plans of future collaborations or integrations with other projects in bitcoin or defi space? Yeah, for sure. I think the most exciting one is the one that we got to work with, like Pando. Because I think the panel kind of the scenario is pretty. Could really have some hype, create some hype in the space so people can bet on the years as well.
Exciting Developments Ahead
So I think that's something I'm really bullish on. So it's gonna be released in a week. So I think, yeah, like all the audiences is here, I could like participate into it in one week. So. And also like, learning protocol is also very important. Right. So once we like make this happen, users could collateralize BDC lightning, like, so BDC. And then they can like borrow more BDC and then they can participate into like Babylon for more exposure. So you can take one BDC to leverage into two BDC to participate into Bible. So and then in terms of the, you know, the lender, they can earn some fixed rate, fixed you, fixed rates. Kind of the use, I mean, like the lending rate. So the lending also. Lending use is something also very kind of, you know, quite promising for most of the users.
Engagement through DeFi Lending
So I think it turns out that all those of the lenders. I mean, like the BDC lenders at DeFi lending protocol, it's kind of like, they. They also, you know, participate into Babylon indirectly. Right. Because the use still comes from, like, the Babylon. Although. Although they are not depositing their BDC into, like, Babylon. So. But I think. Very interesting. That's the. That's Defi. Right. That's all that, like, the. The function here. So very interesting. Yeah, I think two main things in terms of the new decks. I think it's pretty simple. Right. But of course, also we're gonna, like, bring soap, BDC, the Babylon to different ecosystem as well.
Exploring New Ecosystems
No matter, like Bob, like botanics, like a different. A lot. A lot. I think avalanche and also some other kind of ecosystem. That's exciting. Yeah. Like a lot of those we talked to as well, like Bob and Avalanche. And so those are just good projects and, you know, good people there a lot of smart people. So I'm really excited about what all these smart people are creating. Is there anything, Ryan, that maybe I haven't touched on that you wanted to talk about? I don't want to not give you an opportunity to mention something.
Concluding Thoughts
Yeah, I really appreciate that, Eric. So I think you covered most of the questions that I want to, like, talk already. Yeah. Appreciate that. Yeah, no problem. Awesome. Then I think that's a wrap for the show then. Thank you so much for making this happen. I know it was a little last second, but we're really excited that were able to get you on and be able to talk to you today. Again, thank you for doing this so early. I know it's not easy to get up that early just to, you know, start having to think. Yeah, it's so exciting for me. Yeah. To join this show. Awesome. Well, thank you.
Looking Forward
We're looking forward to cap two with you guys. And, you know, so many more collaborations going forward. Good luck to everything you guys are doing.
