Alexei Zamyatin, co-founder of the Bitcoin layer 2 Build on Bitcoin, stated that the first user-friendly decentralized finance (DeFi) platform on Bitcoin could attract the blockchain's projected 300 million users, significantly surpassing the user bases of Ethereum and Solana. Zamyatin emphasized that Bitcoin possesses a larger market with a vast retail user base eager for DeFi services. Demand is growing for Bitcoin yield and Bitcoin-backed stablecoins, as institutions seek yield on their holdings. Currently, the Babylon Protocol leads in Bitcoin DeFi with nearly 80% of the total value locked, yet Bitcoin's overall DeFi total value locked (TVL) is still less than Ethereum's substantial $54.6 billion. Zamyatin mentioned the ongoing hesitation among institutions regarding blockchain bridges, despite their potential for moving value between different blockchains, primarily due to concerns over anonymous signers. He suggested that increasing the number of bridge signers could improve trust in these systems, though many institutions prefer using reputable custodians for such transactions.

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