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- 📢 Gate has released its latest Proof of Reserves report!
As of July 11, 2025:
💰 Total reserves reached $10.504 billion
📈 Reserve ratio stands at 126.03%
✅ Covers over 350 types of user assets
🔼 Surplus reserves increased 10.66% to $2.17 billion
Committed to transparency and user fund security.
📎 Learn more: https://www.gate.com/proof-of-reserves
- 📢 Gate Square #Creator Campaign Phase 1# is now live – support the launch of the PUMP token sale!
The viral Solana-based project Pump.Fun ($PUMP) is now live on Gate for public sale!
Join the Gate Square Creator Campaign, unleash your content power, and earn rewards!
📅 Campaign Period: July 11, 18:00 – July 15, 22:00 (UTC+8)
🎁 Total Prize Pool: $500 token rewards
✅ Event 1: Create & Post – Win Content Rewards
📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
📌 How to Join:
Post original content about the PUMP project on Gate Square:
Minimum 100 words
Include hashtags: #Creator Campaign
- 🌟 Photo Sharing Tips: How to Stand Out and Win?
1.Highlight Gate Elements: Include Gate logo, app screens, merchandise or event collab products.
2.Keep it Clear: Use bright, focused photos with simple backgrounds. Show Gate moments in daily life, travel, sports, etc.
3.Add Creative Flair: Creative shots, vlogs, hand-drawn art, or DIY works will stand out! Try a special [You and Gate] pose.
4.Share Your Story: Sincere captions about your memories, growth, or wishes with Gate add an extra touch and impress the judges.
5.Share on Multiple Platforms: Posting on Twitter (X) boosts your exposure an
- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
Gate has surpassed 30M users worldwide — not just a number, but a journey we've built together.
Remember the thrill of opening your first account, or the Gate merch that’s been part of your daily life?
📸 Join the #MyGateMoment# campaign!
Share your story on Gate Square, and embrace the next 30 million together!
✅ How to Participate:
1️⃣ Post a photo or video with Gate elements
2️⃣ Add #MyGateMoment# and share your story, wishes, or thoughts
3️⃣ Share your post on Twitter (X) — top 10 views will get extra rewards!
👉
The Rise of BTCFi: Analysis of the Current Status and Future Opportunities of Bitcoin Decentralized Finance
BTCFi: The Rise and Future Outlook of Bitcoin DeFi
Bitcoin is undergoing a huge transformation in the field of Decentralized Finance ( DeFi ). From the initial peer-to-peer transfers, Bitcoin is gradually becoming an important force in DeFi, starting to challenge Ethereum's dominance. By analyzing on-chain data, we find that the combination of BTCFi ( Bitcoin and DeFi ) is not only a technological shift but may also redefine the entire DeFi landscape.
The Rise of BTCFi
When Satoshi Nakamoto created Bitcoin in 2008, the initial design goal was a peer-to-peer electronic cash system. Although this architecture has revolutionary significance in the field of crypto assets, it has limitations in complex financial applications such as Decentralized Finance.
The Original Design of Bitcoin and Its Limitations in Decentralized Finance
Core design elements of Bitcoin and its limitations:
UTXO model: effectively handles simple transactions, but lacks the flexibility to support complex smart contracts.
Limited scripting language: The design is constrained, and the number of executable opcodes is limited, which hinders support for complex Decentralized Finance applications.
Lack of Turing completeness: It is difficult to implement complex smart contracts that depend on state.
Block size and transaction speed limits: result in transaction processing speeds far lower than other blockchains focused on Decentralized Finance.
These designs, while enhancing the security and decentralization of Bitcoin, also pose obstacles to directly implementing DeFi functions on it.
Early Attempts and Development of Introducing Decentralized Finance on Bitcoin
Despite facing limitations, developers are still seeking innovative solutions:
Colored Coin (2012-2013): One of the early attempts that laid the foundation for developing more complex financial applications on Bitcoin.
Counterparty(2014): Introduces the ability to create and trade custom assets, showcasing the potential for more complex financial instruments.
Lightning Network ( Since 2015 ): Layer 2 protocol, enhances transaction scalability, opens up possibilities for complex financial interactions.
Discrete Log Contracts ( DLC ) ( Since 2017 ): Allow the implementation of complex financial contracts, providing new possibilities for derivatives and other DeFi tools.
Liquid Network ( From 2018 to present ): Supports the issuance of crypto assets and more complex transactions, paving the way for DeFi applications.
Taproot Upgrade (2021): Enhanced Bitcoin's smart contract capabilities, laying the foundation for future Decentralized Finance development.
These early developments laid the foundation for the expansion of Bitcoin's functionality, showcasing the potential of the Bitcoin ecosystem.
Key Innovations: Implementing Smart Contracts on Bitcoin
In recent years, several protocols have aimed to introduce smart contracts and Decentralized Finance features to Bitcoin.
Rootstock: The pioneer of Bitcoin smart contracts, the longest-running Bitcoin sidechain. Supports dual mining and is compatible with the Ethereum Virtual Machine (EVM).
Core: An EVM-compatible blockchain closely integrated with Bitcoin. The innovative dual-staking model transforms Bitcoin into a yield-bearing asset.
Merlin Chain: An emerging Bitcoin Layer 2 network that integrates ZK-Rollup technology, decentralized oracles, and on-chain anti-fraud modules.
BEVM: The first fully decentralized and EVM-compatible Bitcoin Layer 2 network, pioneering the concept of "computing power RWA".
The key innovations of these protocols include:
As of September 8, 2024, the total locked value of Bitcoin Layer 2 solutions and sidechains ( TVL ) reached $1.07 billion, which is a 5.7-fold increase compared to the beginning of 2024 and an 18.4-fold increase compared to the beginning of 2023.
The Current Situation of Bitcoin Decentralized Finance
Some key projects have become important players:
Pell Network: Cross-chain re-staking protocol that enhances the security of the Bitcoin ecosystem and optimizes yields.
Avalon Finance: Multi-chain DeFi platform, providing lending and trading services.
Colend Protocol: A decentralized lending platform built on the Core blockchain.
MoneyOnChain: A comprehensive DeFi protocol on Rootstock that issues the stablecoin DOC.
Sovryn: A feature-rich DeFi platform that spans BOB and Rootstock.
Solv Protocol: A frontier in NFT financialization, creating, trading, and managing on-chain certificates.
These projects showcase the dynamic development in the Bitcoin DeFi space. Core holds a leading position in the Bitcoin DeFi sector, accounting for 25.2% of the project count.
Comparative Analysis with Ethereum DeFi
The integration of Bitcoin and the Ethereum DeFi ecosystem is mainly achieved through wrapped assets such as wBTC and renBTC. As of September 8, the number of BTC locked in Ethereum DeFi protocols is 153,400, far exceeding the 8,970 in the native Bitcoin DeFi ecosystem.
The Development of Ethereum and Its Insights for Bitcoin and Vice Versa
Bitcoin can learn from Ethereum:
Ethereum can learn from Bitcoin:
Challenges and Opportunities
Technical barriers:
Regulatory Concerns:
Future Opportunities:
Conclusion
The Bitcoin DeFi ecosystem is expected to continue expanding driven by technological advancements and institutional interest. The key lies in developing scalable Layer 2 solutions, enhancing interoperability, and launching more complex financial products. Although facing regulatory and technical challenges, the future of Bitcoin DeFi is promising, with the potential to have a profound impact on the entire DeFi ecosystem, making Bitcoin a core participant in DeFi.