The closure of Bitcoin scaling platform Botanix raises concerns about the viability of Bitcoin DeFi, with low usage and TVL of $4.12 billion across all Bitcoin DeFi protocols, a tiny fraction of Bitcoin's $1.2 trillion market cap.
Botanix, a Bitcoin scaling platform, closed due to lack of usage, raising questions about the viability of Bitcoin DeFi. Despite years of hype, Bitcoin DeFi has a low total value locked ($4.12B) compared to Bitcoin's market cap, with users preferring wrapped BTC on Ethereum for yield.
Botanix Labs is winding down its Bitcoin Layer 2 project, Botanix, citing insufficient demand for Bitcoin-native DeFi. Despite a year of 100% uptime and millions of transactions, the project failed to attract enough users, highlighting a distribution challenge for native Bitcoin rails.
Rootstock's Q1 2026 report shows 84.01% of Bitcoin's total hashrate secured the Rootstock sidechain via merged mining, allowing miners to earn extra BTC fees without new hardware. This highlights a strong security base for Bitcoin DeFi (BTCFi) infrastructure, though economic activity and fee revenue remain key tests for its value.
Monad ağı üzerinde çalışan DeFi protokolü Echo Protocol, hacker'ların bin adet eBTC basmasıyla 77 milyon dolar kaybetti. Çalınan fonların bir kısmı Tornado Cash'te aklanırken, saldırının operasyonel hatalardan kaynaklandığı belirtildi.
Lombard Finance is migrating over $1 billion in Bitcoin-backed tokens from LayerZero to Chainlink's CCIP, citing security concerns after the Kelp DAO exploit. Kraken made a similar move.
Input Output Global, the primary software laboratory behind the Cardano blockchain, has halved its annual treasury funding request, asking the network’s decentralized governance body for $46.8 million to finance its 2026 operations. The pullback marks a deliberate transition away from single-entity dominance, pivoting the ecosystem toward a future where specialized third-party firms shoulder a larger […] The post Cardano development teams wants almost $50 million for Bitcoin DeFi and Vision 2030 appeared first on CryptoSlate.
