According to @danheld, the Bitcoin DeFi project BOB (Build on Bitcoin) has launched its testnet, with a mainnet release scheduled for Q4 of this year. The project is a hybrid layer-2 network that utilizes the BitVM computing paradigm to combine Bitcoin's security with Ethereum's programmability, according to the source. A key feature for traders is that BOB aims to use native BTC, not a wrapped version, as the core asset for its DeFi services, a distinction co-founder Alexei Zamyatin emphasized. This approach, similar to how rollups like Arbitrum handle native ETH, could significantly increase the utility and demand for actual Bitcoin (BTC) within the DeFi ecosystem. The project's BitVM bridge, which facilitates the transfer of BTC to and from the rollup, has already garnered support from major industry players like Amber Group, P2P.org, and Solv Protocol, who are operating nodes on the testnet.

According to @danheld, the Bitcoin Layer-2 network Botanix has launched its mainnet, a significant development for the Bitcoin (BTC) ecosystem. The network is designed to be fully compatible with the Ethereum Virtual Machine (EVM), enabling developers to port Ethereum-based applications directly onto Bitcoin. This launch dramatically reduces block times from the standard 10 minutes to just five seconds, potentially increasing transaction throughput and enhancing the user experience for Bitcoin DeFi (BTCFi). The project aims to unlock the vast liquidity of BTC for decentralized finance applications. Botanix is launching with a decentralized governance structure supported by 16 node operators, including prominent firms like Galaxy Digital and Fireblocks, which adds a layer of security and trust for potential investors and users. In conjunction with the mainnet, new BTCFi products have also debuted, such as the BTC-backed stablecoin Palladium and the decentralized exchange Bitzy, creating new trading and yield opportunities within the Bitcoin ecosystem.