Charles Hoskinson’s Wild Bitcoin DeFi Adventure on Cardano!

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So, Charles Hoskinson, the big cheese behind Cardano, just dropped this shiny new Bitcoin DeFi thingamajig called the Cardinal Protocol. You heard that right! For the first time, Bitcoin can waltz into decentralized finance on Cardano without needing a babysitter—aka third-party custodians. 🎉

Welcome to the first Bitcoin DeFi protocol developed for Cardano

— Charles Hoskinson (@IOHK_Charles) June 9, 2025

Instead of relying on those pesky custodians, Cardinal is strutting its stuff with the MuSig2 multi-signature method. Sounds fancy, right? It makes peg-in and peg-out transactions a breeze, ensuring everything is as clear as mud and verifiable. Oh, and it plays nice with Ethereum, Solana, and Avalanche. Who knew Bitcoin could be so social? 🤝

Now, they’re using BitVMX for off-chain verification, which is like having a bouncer for your Bitcoin at the club of Cardano’s smart contracts. You can farm and trade Bitcoin-based assets using MinswapDEX, SundaeSwap, or Fluid Tokens. It’s like a buffet of options! And guess what? Ordinals can now be collateral for loans and can be traded or auctioned on other blockchains without losing their precious history. Talk about a glow-up! 💰

According to CTO Romain Pellerin, this is a step in the right direction, but adding zero-knowledge proofs, wallet connections, and better liquidity would really take it to the next level. Because, you know, who doesn’t want more complexity in their lives? 🙄

With this move, Bitcoin owners can finally dip their toes into DeFi, and Robert Kiyosaki’s claim that Bitcoin is “people’s money” gets a shiny new badge of honor. Cardinal is giving Bitcoin a cozy little spot in the ever-expanding DeFi sector of Cardano. Isn’t that just adorable? 🥳

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2025-06-10 07:03