Since it lacks smart contract capabilities, Bitcoin cannot directly be used in decentralized finance (DeFi) such as lending or trading.
Locking Bitcoin in self-custodied escrow eliminates counterparty risk. The user "self-wraps" their own Bitcoin and keeps it in their wallet.
The only way to take a loan against Bitcoin requires the user to send it to a custodian. But custodians have lost over $100B of user funds to date.
Bitcoin oracles enable a broad range of apps to use native Bitcoin including gaming, swapping, trading, or NFT purchases.
Wrapped Bitcoin and other Bitcoin-representing tokens are all centralized, making custodians manage liquidity and institute measures to avoid fraud or theft.
Enable trillions of dollars of Bitcoin capital to be used in smart contracts on any chain.