Aave Gauges Community Interest for Expansion to Bitcoin Layer 2 Spiderchain

CN
coindesk
Follow
5 hours ago


Aave, the largest decentralized-finance (DeFi) lending platform, is canvassing its community to gauge the level of interest in deploying on the Bitcoin layer-2 network Spiderchain.


The Aave-Chain Initiative (ACI), the driving force behind the protocol, published a call for comments on the proposal by Spiderchain developer Botanix Labs to expand the lender with more than $17 billion in total value locked into the emerging Bitcoin DeFi environment.


The idea of deploying on a Bitcoin layer 2 highlights the appetite for bringing functionality that is common elsewhere in the crypto ecosystem to the original blockchain. The bitcoin (BTC) price soared above $90,000 for the first time this week, reaching an all-time high of $93,445, as its dominance of the crypto industry reached 61.38%. Developers of projects native to other networks may be seeking to harness the deep reserves that are held in BTC.


Botanix Labs developed Spiderchain to be compatible with protocols that use Ethereum Virtual Machine (EVM), the software that powers Ethereum and enables smart contracts. Botanix's goal is to allow any Ethereum-based application to be compatible with Bitcoin.


After feedback is gathered, the protocol will need to identify and mitigate potential security risks. ACI hasn't offered any expected timescale for this process.


Aave's native token (AAVE) has fallen just under 8% in the last 24 hours to just under $168, according to CoinDesk Indices. This drop is likely a reflection of the broad pullback across the crypto industry following BTC's surge above $90,000 on Wednesday.


Read More: Chainlink Expands to Bitcoin, Helping Original Blockchain With Its Layer-2 Shift




免责声明:本文章仅代表作者个人观点,不代表本平台的立场和观点。本文章仅供信息分享,不构成对任何人的任何投资建议。用户与作者之间的任何争议,与本平台无关。如网页中刊载的文章或图片涉及侵权,请提供相关的权利证明和身份证明发送邮件到support@aicoin.com,本平台相关工作人员将会进行核查。

Share To
APP

X

Telegram

Facebook

Reddit

CopyLink