专家预测，比特币 DeFi 将与以太坊的创新相抗衡

比特币去中心化金融 (DeFi) 正在获得越来越多的关注，因为它将 DeFi 功能带入了最古老的区块链网络。尽管处于起步阶段，BTCFi 仍有望与基于以太坊的 DeFi 创新相媲美，特别是考虑到对比特币原生 DeFi 应用程序的高需求。比特币第 2 层 DEX MerlinSwap 的首次 DEX 发行筹集了 4.8 亿美元，反映了市场对 BTCFi 的热情及其在 DeFi 领域释放比特币未开发潜力的潜力。

Bitcoin DeFi Poised to Match Ethereum's Innovation, Expert Predicts

专家预测，比特币 DeFi 有望与以太坊的创新相媲美

The world of decentralized finance (DeFi) is on the cusp of a paradigm shift, with Bitcoin-native DeFi (BTCFi) emerging as a formidable force. According to Nash Lee, co-founder of MerlinSwap, BTCFi has the potential to rival and even surpass the innovation seen in Ethereum-based DeFi.

去中心化金融 (DeFi) 世界正处于范式转变的风口浪尖，比特币原生 DeFi (BTCFi) 正成为一股强大的力量。 MerlinSwap 联合创始人 Nash Lee 表示，BTCFi 有潜力与基于以太坊的 DeFi 创新相媲美甚至超越。

"The market is hungry for scalable platforms that can handle the growing demand and expectations," Lee told Cointelegraph. "DeFi stands out as the sector with the potential to capitalize on this narrative, providing a sustainable ecosystem for Bitcoin's evolving use cases. This dynamic sets the stage for Bitcoin DeFi to potentially match, if not exceed, the innovation and sophistication present in Ethereum's DeFi ecosystem."

“市场渴望可扩展的平台来满足不断增长的需求和期望，”Lee 告诉 Cointelegraph。 “DeFi 作为有潜力利用这一叙事的行业脱颖而出，为比特币不断发展的用例提供了一个可持续的生态系统。这种动态为比特币 DeFi 奠定了基础，有可能与以太坊 DeFi 的创新和复杂性相媲美，甚至超越。生态系统。”

Surging Demand for Bitcoin-Native DeFi

比特币原生 DeFi 需求激增

The demand for Bitcoin-native DeFi applications is evident in the explosive growth of decentralized exchanges (DEXs) like MerlinSwap. MerlinSwap's initial DEX offering (IDO) on April 5 raised a staggering 6,599 Bitcoin (BTC), worth approximately $480 million, with over 52,000 participants.

MerlinSwap 等去中心化交易所 (DEX) 的爆炸式增长体现了对比特币原生 DeFi 应用程序的需求。 MerlinSwap 于 4 月 5 日首次 DEX 发行（IDO）筹集了惊人的 6,599 比特币（BTC），价值约 4.8 亿美元，参与者超过 52,000 名。

"The successful IDO is a testament to the market's appetite and confidence in Bitcoin-native DeFi applications," Lee said. "It signals the community's enthusiasm for engaging with and driving the DeFi revolution on Bitcoin's network. It underscores a significant shift towards recognizing Bitcoin's untapped potential in the DeFi space, highlighting a broad-based and substantial demand for innovative, decentralized financial solutions built on the world's first cryptocurrency."

Lee 表示：“IDO 的成功证明了市场对比特币原生 DeFi 应用的兴趣和信心。” “它标志着社区对参与和推动比特币网络上的 DeFi 革命的热情。它强调了认识到比特币在 DeFi 领域尚未开发的潜力的重大转变，突显了对基于 DeFi 的创新、去中心化金融解决方案的广泛而巨大的需求。世界上第一个加密货币。”

MerlinSwap's Layer-2 Success

MerlinSwap 的 Layer-2 成功

MerlinSwap operates on the Bitcoin layer-2 network Merlin Chain. On April 4, it surpassed $100 million in total value locked (TVL), demonstrating the growing adoption of Bitcoin-native DeFi solutions.

MerlinSwap 在比特币第 2 层网络 Merlin Chain 上运行。 4 月 4 日，总锁定价值 (TVL) 超过 1 亿美元，这表明比特币原生 DeFi 解决方案的采用率不断上升。

Bitcoin Ordinals: A New Era of BTCFi

比特币序数：BTCFi 新时代

The introduction of the BRC-20 token standard has paved the way for Bitcoin-native non-fungible tokens (NFTs), known as Ordinals, to be minted on the Bitcoin blockchain for the first time. Ordinals are inscribed directly onto satoshis (sats), giving them a permanent home on the Bitcoin network, unlike most NFT collections where artwork and metadata are stored on centralized servers, creating potential vulnerabilities.

BRC-20 代币标准的推出为首次在比特币区块链上铸造比特币原生的不可替代代币（NFT）（称为 Ordinals）铺平了道路。序号直接刻在 satoshis (sat) 上，使它们在比特币网络上拥有永久的家，这与大多数 NFT 收藏不同，在大多数 NFT 收藏中，艺术品和元数据存储在集中式服务器上，从而产生了潜在的漏洞。

The fascination with Bitcoin-native NFTs is evident in the community's rapid adoption, with over 64.1 million Ordinal inscriptions created in less than a year and a half since the first Ordinal was inscribed in December 2022, according to Dune Analytics.

根据 Dune Analytics 的数据，自 2022 年 12 月第一个 Ordinal 被铭刻以来，在不到一年半的时间里，已经创建了超过 6410 万个 Ordinal 铭文。

"Ordinals are a fascinating development in the Bitcoin ecosystem," Lee said. "They demonstrate the potential for Bitcoin to support a wide range of digital assets and applications, enhancing its utility beyond that of a store of value."

“序数是比特币生态系统中一个令人着迷的发展，”李说。 “它们展示了比特币支持广泛的数字资产和应用程序的潜力，增强了其实用性，超越了价值储存的功能。”

Layer-2s Unlocking New Bitcoin Use Cases

Layer-2 解锁新的比特币用例

Beyond Ordinals, the emergence of Bitcoin layer-2 solutions is another crucial aspect of BTCFi, which could ultimately open up new use cases for Bitcoin. "Prior to the advent of layer-2 solutions, Bitcoin-native assets lacked practical applications, confining BTC's role primarily to that of digital gold," Lee said. "The emergence of Bitcoin layer-2 protocols has been a game-changer, unlocking a vast array of utilities for BTC assets."

除了 Ordinals 之外，比特币第 2 层解决方案的出现是 BTCFi 的另一个重要方面，它最终可能为比特币开辟新的用例。 Lee 表示：“在第二层解决方案出现之前，比特币原生资产缺乏实际应用，这使得 BTC 的作用主要局限于数字黄金。” “比特币第 2 层协议的出现改变了游戏规则，为 BTC 资产解锁了大量实用程序。”

Lee believes that the maturation of Bitcoin layer-2s, coupled with the growing adoption of Bitcoin-native DeFi applications and Ordinals, has created a fertile ground for BTCFi to flourish. "The convergence of these factors is creating a vibrant ecosystem where Bitcoin can truly fulfill its potential as a platform for innovation and financial empowerment," he said.

Lee 认为，比特币第 2 层的成熟，加上比特币原生 DeFi 应用程序和 Ordinals 的日益普及，为 BTCFi 的蓬勃发展创造了肥沃的土壤。 “这些因素的融合正在创造一个充满活力的生态系统，比特币可以真正发挥其作为创新和金融赋权平台的潜力，”他说。

BTCFi Poised for Exponential Growth

BTCFi 有望呈指数级增长

Based on the current trajectory, BTCFi is poised for exponential growth in the coming years. "The market is ripe for disruption, and BTCFi is well-positioned to lead the charge," Lee said. "Bitcoin's established network, strong brand recognition, and growing community of developers and users provide BTCFi with a solid foundation for success. As the ecosystem continues to evolve, we can expect to see even more innovative and groundbreaking applications emerge, further cementing BTCFi as a major force in the DeFi landscape."

根据目前的发展轨迹，BTCFi 有望在未来几年呈指数级增长。 Lee 表示：“市场颠覆的时机已经成熟，而 BTCFi 完全有能力引领这一潮流。” “比特币成熟的网络、强大的品牌知名度以及不断增长的开发者和用户社区为 BTCFi 的成功奠定了坚实的基础。随着生态系统的不断发展，我们预计会看到更多创新和突破性的应用程序出现，进一步巩固 BTCFi 作为DeFi 领域的主要力量。”

Conclusion

结论

The emergence of BTCFi marks a pivotal moment in the history of decentralized finance. With its potential to match and even surpass the innovation of Ethereum-based DeFi, BTCFi is poised to revolutionize the way Bitcoin is used and perceived. As the ecosystem continues to grow and mature, BTCFi has the potential to unlock a new era of financial freedom and empowerment for individuals and communities worldwide.

BTCFi的出现标志着去中心化金融历史上的关键时刻。 BTCFi 具有媲美甚至超越基于以太坊的 DeFi 创新的潜力，有望彻底改变比特币的使用和感知方式。随着生态系统的不断发展和成熟，BTCFi 有潜力为全球个人和社区开启财务自由和赋权的新时代。