比特币去中心化金融崛起，与以太坊的 DeFi 生态系统相抗衡

比特币去中心化金融（DeFi），或称 BTCFi，是一个新颖的概念，旨在将 DeFi 功能引入比特币。 BTCFi 已经获得了关注，比特币原生 DEX MerlinSwap 在其首次 DEX 发行（IDO）中筹集了创纪录的金额。随着 BRC-20 代币、比特币序数 (NFT) 和比特币第 2 层网络的引入，BTCFi 生态系统正在不断扩展，为世界上第一个加密货币提供了更广泛的用例，并有可能与基于以太坊的 DeFi 创新相匹配。

Bitcoin Decentralized Finance Emerges as a Potent Force, Set to Rival Ethereum's DeFi Ecosystem

比特币去中心化金融成为一股强大力量，有望与以太坊的 DeFi 生态系统相抗衡

In the ever-evolving landscape of blockchain technology, Bitcoin decentralized finance (DeFi), or BTCFi, has emerged as a formidable force, poised to match the groundbreaking innovations of Ethereum-based DeFi. This nascent paradigm seeks to harness the power of DeFi on the world's first blockchain network, Bitcoin.

在区块链技术不断发展的格局中，比特币去中心化金融（DeFi）（BTCFi）已成为一股强大的力量，有望与基于以太坊的 DeFi 的突破性创新相媲美。这种新生范式旨在在世界上第一个区块链网络比特币上利用 DeFi 的力量。

According to Nash Lee, co-founder of MerlinSwap, a prominent Bitcoin-native DeFi platform, the market's insatiable appetite for expansion and innovation has paved the way for BTCFi's unprecedented rise:

著名的比特币原生 DeFi 平台 MerlinSwap 联合创始人 Nash Lee 表示，市场对扩张和创新的永不满足的胃口为 BTCFi 的前所未有的崛起铺平了道路：

"The market craves platforms capable of absorbing the surging volumes and skyrocketing expectations. DeFi stands alone as the sector with the potential to drive this narrative, providing a robust ecosystem for Bitcoin's evolving use cases. This dynamic positions Bitcoin DeFi to potentially equal, if not surpass, the innovation and complexity that has characterized Ethereum's DeFi ecosystem."

“市场渴望能够吸收激增的交易量和飙升的期望的平台。DeFi 是一个有潜力推动这一叙事的行业，为比特币不断发展的用例提供了一个强大的生态系统。这种动态使比特币 DeFi 可能与比特币 DeFi 旗鼓相当，甚至可以说是平等的。超越以太坊 DeFi 生态系统的创新性和复杂性。”

The surge in investor demand for Bitcoin-native DeFi applications is undeniable. MerlinSwap's decentralized exchange (DEX) recently conducted a record-breaking IDO (initial decentralized offering), raising an astounding 6,599 Bitcoin.

投资者对比特币原生 DeFi 应用程序的需求激增是不可否认的。 MerlinSwap 的去中心化交易所（DEX）最近进行了破纪录的 IDO（首次去中心化发行），筹集了惊人的 6,599 个比特币。

"This record-breaking IDO serves as a testament to the market's overwhelming demand for Bitcoin-native DeFi applications," Lee asserted. "It reflects the community's unwavering commitment to harnessing the transformative power of DeFi on Bitcoin's platform. This shift signifies a profound recognition of Bitcoin's untapped potential in the DeFi realm, underscoring the widespread demand for innovative, decentralized financial solutions built on the world's foremost cryptocurrency."

Lee 断言：“这一破纪录的 IDO 证明了市场对比特币原生 DeFi 应用程序的巨大需求。” “它反映了社区对在比特币平台上利用 DeFi 变革力量的坚定承诺。这一转变标志着对比特币在 DeFi 领域尚未开发的潜力的深刻认识，突显了对基于世界上最重要的加密货币的创新、去中心化金融解决方案的广泛需求。 ”

MerlinSwap, a pioneering force in BTCFi, operates on the Bitcoin Layer-2 network, Merlin Chain. On April 4th, it surpassed $100 million in total value locked (TVL), a testament to its rapid ascent.

MerlinSwap 是 BTCFi 的先锋力量，在比特币第 2 层网络 Merlin Chain 上运行。 4 月 4 日，其总锁定价值 (TVL) 突破 1 亿美元，证明了其快速上升。

The advent of Bitcoin Ordinals, which enabled the minting of non-fungible tokens (NFTs) directly on the Bitcoin blockchain, marked a pivotal moment in the genesis of BTCFi. Unlike traditional NFTs, which rely on centralized servers for image and metadata storage, introducing potential vulnerabilities, Bitcoin-native NFTs, known as Ordinals, are indelibly inscribed on satoshis (sats), granting them an immutable presence on the Bitcoin network.

比特币序数的出现使得能够直接在比特币区块链上铸造不可替代代币（NFT），标志着 BTCFi 起源的关键时刻。与传统的 NFT 不同，传统的 NFT 依赖集中式服务器进行图像和元数据存储，从而引入了潜在的漏洞，比特币原生的 NFT（称为序数）不可磨灭地刻在 satoshis（sats）上，赋予它们在比特币网络上不可改变的存在。

The burgeoning interest in Bitcoin-native NFTs is undeniable. In less than one and a half years since its inception in December 2022, over 64.1 million Ordinals have been inscribed on the network, as reported by Dune.

不可否认的是，人们对比特币原生 NFT 的兴趣与日俱增。据 Dune 报道，自 2022 年 12 月成立以来不到一年半的时间里，已有超过 6410 万个序号被登记在网络上。

Beyond Ordinals, the emergence of Bitcoin Layer-2s has played a pivotal role in BTCFi's ascent, unlocking a myriad of practical applications for Bitcoin. Lee elaborated:

除了 Ordinals 之外，比特币 Layer-2 的出现在 BTCFi 的崛起中发挥了关键作用，解锁了比特币的无数实际应用。李详细阐述：

"Prior to the advent of Layer-2 solutions, Bitcoin-native assets lacked tangible applications, confining BTC's utility primarily to that of digital gold. The arrival of Bitcoin Layer-2 technologies has revolutionized the landscape, unleashing a wealth of use cases for BTC assets."

“在 Layer-2 解决方案出现之前，比特币原生资产缺乏有形的应用，这使得 BTC 的用途主要局限于数字黄金。比特币 Layer-2 技术的到来彻底改变了这一格局，为 BTC 释放了丰富的用例资产。”

This technological advancement has paved the way for a surge in Bitcoin-native DeFi projects, offering an array of financial services, including lending, borrowing, and decentralized swaps, all centered around the Bitcoin blockchain.

这项技术进步为比特币原生 DeFi 项目的激增铺平了道路，提供一系列金融服务，包括贷款、借款和去中心化互换，所有这些都以比特币区块链为中心。

The rise of BTCFi has profound implications for the DeFi ecosystem as a whole. It has the potential to attract a broader audience of investors and users who may favor Bitcoin's long-standing reputation and robust security.

BTCFi 的崛起对整个 DeFi 生态系统产生了深远的影响。它有潜力吸引更广泛的投资者和用户，他们可能会青睐比特币的长期声誉和强大的安全性。

Moreover, BTCFi has the potential to accelerate the adoption of Bitcoin beyond its traditional role as a store of value. By unlocking a wider range of use cases through DeFi, BTCFi can bolster Bitcoin's position as a versatile and indispensable asset in the digital economy.

此外，BTCFi 有潜力加速比特币的采用，超越其作为价值储存的传统角色。通过 DeFi 解锁更广泛的用例，BTCFi 可以巩固比特币作为数字经济中多功能且不可或缺的资产的地位。

In conclusion, the emergence of BTCFi marks a transformative chapter in the history of Bitcoin and DeFi. With its ability to leverage Bitcoin's unparalleled security, decentralized nature, and vast user base, BTCFi is poised to drive significant innovation and adoption within the DeFi ecosystem. The future of Bitcoin and DeFi looks incredibly promising, and BTCFi stands at the forefront of this exciting and rapidly evolving landscape.

总而言之，BTCFi 的出现标志着比特币和 DeFi 历史上的变革性篇章。 BTCFi 能够利用比特币无与伦比的安全性、去中心化特性和庞大的用户群，有望推动 DeFi 生态系统的重大创新和采用。比特币和 DeFi 的未来看起来非常有希望，而 BTCFi 站在这个令人兴奋且快速发展的领域的最前沿。