According to Wu Said, this podcast discussed with Solv co-founder Ryan the market concerns caused by the transfer of control of WBTC, alternatives to WBTC, and the potential of BTCFi.
Ryan believes that although WBTC will still exist, it will lose recognition in certain DeFi protocols in the future; the three major alternatives are Bitcoin issued by exchanges, Bitcoin reserves in trusted custody, and decentralized reserve solutions.
Ryan mentioned that the difficulty of BTCFi lies in trust and profit scenarios, and the early success of WBTC benefited from its use cases and profits. With the launch of the mainnet, Babylon creates new profit opportunities through Bitcoin staking and is one of the most promising projects in the BTCFi field.
