BOB is so focused on technology and not on promotion that many people's impression of it still lingers on "BTC Layer 2". When the average person mentions BTCFi, they think it's a false proposition. BTC can't be contracted, can't be moved, so how can it play in DeFi? ➤ BOB is the one that turns this "false proposition" into a real project. It's not just packaging or multi-signature custody; BOB has truly brought native BTC onto the chain this time. @Build_on_bob_CH @build_on_bob It relies on the first practical application of BitVM technology, and the testnet is already up and running, with institutions like Solv personally participating in node testing and feedback, not just lip service, but real tech players. ⸻ ➤ BTC on BOB is true BTC. Just like ETH on Optimism is still ETH, BTC on BOB is also real BTC, not Wrapped, not a mapping. It is native BTC, directly participating in on-chain operations, not custodial, not intermediated, not centralized, with security guaranteed by the Bitcoin network itself. ⸻ ➤ What is BitVM? BitVM is like a "virtual machine on Bitcoin," allowing BTC to participate in contracts and cross-chain verification for these complex operations, but without changing Bitcoin's underlying rules or sacrificing security. In simple terms: it allows BTC to move, but without losing its essence. ⸻ ➤ What does BOB want to do? BOB is not just a simple BTC Layer 2, but a hybrid of BTC and ETH, combining Bitcoin's security with Ethereum's DeFi gameplay, allowing BTC to no longer just be "lying gold," but to be able to "move" on-chain. ⸻ ➤ What new features have been launched on the testnet? BTC can natively cross-chain into DeFi without relying on centralized intermediaries. The role of BitVM operators has been split, with some responsible for computation and others providing BTC liquidity. It supports BTC collateral reuse, improving efficiency and scalability. Data on-chain uses ETH's blob, which is low-cost and resistant to censorship. ⸻ ➤ What do institutions say? Here are direct quotes from two representatives: Solv CEO: BOB + BitVM is the starting point for native BTC to gain "real returns," allowing it to truly participate in the DeFi economy. ⸻ ➤ So, has the problem been solved? BTCFi has been criticized as a "false proposition" because BTC couldn't directly participate in DeFi in the past. BOB + BitVM now addresses three core challenges: BTC can move, can contract, can verify, all without relying on centralization. This is not "coin swapping"; it's real BTC running on-chain. ⸻ ➤ To summarize: The BitVM testnet is up and running, with the mainnet expected to launch in Q4. It's not just staying at the textual level, but confirmed real technology through institutional testing and node operations. BOB may be the first project to turn native BTC into FI.