Prior to the US election, October had seen a massive growth in the cryptocurrency landscape from new token All Time Highs to Institutional and retail backing, memecoin adoption at unprecedented levels. The DeFi sector nonetheless has been the biggest gainer in this bull run championed by Ethereum and Solana ecosystem protocols.
Not for long, In the month of October, we saw a growth spurt for Bitcoin DeFi (BTCfi). BTCfi recorded a growth in total value locked of 250%, moving from $630.1 million to $2.366 billion in October alone. This goes to show the rate of adoption for DeFi on the Bitcoin network.
Now, with the election results in and a Pro-Crypto President and Cabinet being elected, $BTC quickly recorded a new All Time High value of $76,800 and has been sitting comfortably at that region. Also, sentiments around cryptocurrencies are tremediously positive. An additional $800 million has been added to the BTCfi sector and this is due to some of the protocols I will be talking about below:
- @Lombard_Finance, the largest Bitcoin liquid staking platform backed by @BinanceLabs and built with @babylonlabs_io bitcoin staking protocol. They have raised a total of $17 million from @polychaincap and @BinanceLabs with an unknown valuation for now. Lombard launched their Public Beta and has seen a growth in deposit rise by 100% in the last 30 days, currently sitting at 10,800 LBTC minted and 16,000 holders. With Bitcoin surpassing it’s ATH price, there’s no better time than now to interact with Lombard and as a tokenless protocol and a points system, airdrops and rewards are guaranteed.
Here, is a guide with interacting with Lombard and putting your $BTC to good use while awaiting favourable rewards.: https://x.com/Wolves_hampton/status/1851581565098402281 - @SolvProtocol is pioneering a decentralized Bitcoin reserve by leveraging SolvBTC to bring together Bitcoin liquidity across multiple platforms, enabling seamless participation in DeFi and unlocking the full potential of Bitcoin-related assets. SolvBTC LSTs also allow users to earn by staking their SolvBTC across multiple chains for various reward streams, including sUSDe yields, Ethena SATs, and Solv Points, all while maintaining Bitcoin exposure. @SolvProtocol secured an additional $11 million in strategic funding round from top firms like Blockchain Capital and OKX Ventures and was also backed by @BinanceLabs .Bringing their total valuation to $200 million.
These guides will help you navigate the Solv Protocols deposit and point campaign.
* A directional guide to the protocol https://x.com/Wolves_hampton/status/1846989696129552571 .
* How to maximise your Solv points using this 140X technique: https://x.com/Wolves_hampton/status/1849054251974111442
** Incase you run into issues due to UI changes, this thread should help out: https://x.com/Wolves_hampton/status/1849738786009137587. - Yala Finance leverages the Yala modular infrastructure to offer a lending protocol enabling users to borrow over-collateralized stablecoins ($YU) by depositing BTC or UTXO assets. With the Yala testnet going live, now we can earn “Berries” (airdrop points) by depositing, minting, and staking $YU on the platform. @yalaorg just raised $8 million from a successful funding round led by @polychaincap and @etherealvc.
The full testnet guide: https://x.com/wolves_hampton/status/1846559050130997320?s=46&t=M8TIXFDoxmAwzsERR27saQ - Lorenzo is the Bitcoin Liquidity Finance Layer, creates an efficient market in which Bitcoin holders can easily find the best opportunities to invest their unused Bitcoin liquidity and serves as the premier DeFi ecosystem in which to finance Bitcoin restaking tokens. They have also seen a surge of 400% in recent deposit from $33 million up $147 million in less than 30 days.
I will be dropping a guide on interacting with Lorenzo soon but for now you can visit https://app.lorenzo-protocol.xyz/staking, and deposit $BTCB similar to the other guides. - Corn is a new Ethereum (ETH) Layer 2 network that uses its hybrid tokenized Bitcoin (BTCN) as the gas token and uses the power of Super Yield to direct yield back to users and protocols. Corn’s innovative implementation of a 1:1 pegged, hybrid tokenized Bitcoin, aptly known by its ticker $BTCN, allows millions of BTC hodlers (individuals and institutions) to finally put their holdings’ value to work.
Kernels are off-chain points that represent your share of the initial $CORN Community Airdrop.
You can earn Kernels by receiving the retroactive Kernel airdrop “Signing Bonus,” depositing various assets, participating in Galxe quests, or by inviting other users via referral links. During Early Access, your goal is to earn Kernels (points). Kernels represent your proportional share of the upcoming $CORN airdrop. You can earn Kernels by depositing eligible assets into silos, completing Galxe quests, & referring friends to Corn.
There is still so much happening in the BTCfi sector and looking at the market capitaization of Bitcoin surpassing $1.5 trillion and BTCfi still at $3 billion. If BTCfi is able to capture as little of 5–10% of Bitcoins market share, its a no-brainer to say we are incredibly early and incredible growth awaits us.
