In a series of <a target="_blank" href="https://x.com/IOHK_Charles/status/1866475420981583938″ target=”_blank” rel=”noopener nofollow”>statements At in a layer. 2 as a network.
bitcoin DeFi Timeline on Cardano
Hoskinson stated: “bitcoin DeFi is an element of the mission-critical roadmap that IOG will pursue in 2025 with partners such as Fair Gate Labs and community projects and wallets. I've given the team a goal of making a meaningful demo for bitcoin 2025 in May. “It's a huge amount of work, but the opportunity is there and it's time to #AwakenTheSleepingGiant bitcoin.”
The announcement sparked a debate about the future integration of BitcoinOS (BOS), a smart contract operating system designed to improve bitcoin's interaction with DeFi platforms. On October 24, Emurgo, the commercial arm of blockchain, announced that it is integrating the BOS Grail bridge with Cardano in partnership with Grail developer BTCOS.
Wondering about Hoskinson's announcement that Fair Gate Labs will implement the bitcoin DeFi bridge, Angry crypto Show (@angrycryptoshow), questioned the strategy: “Why don't we further the momentum we had with BitcoinOS, or support Sundial, etc. “
In response, Hoskinson emphasized the role of Fair Gate Labs, stating: “Fairgate invented the technology that BitcoinOS is based on and also does not require its own token. It is only necessary to use bitcoins for cross-chain transactions.”
Community member J₳zzwhistlΣ (@jazzwhistle) expressed concerns about how bypassing BitcoinOS could impact ADA's participation in a multi-chain btc DeFi ecosystem.
Hoskinson addressed these concerns by highlighting the project's broader interoperability: “We have a multi-chain ecosystem all the way to Midnight. It will connect to ethereum, Solana, Avalanche, XRP and many others. All we would gain is dilute liquidity when BOS abandons us for the week chain during the integration.”
Edan Yago, founder of BitcoinOS, responded to Hoskinson’s reservations by stating: “BOS has no intention of divesting Cardano. We are actively collaborating with builders to integrate BOS with Cardano. Why wouldn’t you want us to build on that?”
Hoskinson responded by encouraging more direct engagement with the ecosystem: “Well then solidify your connection to the ecosystem and launch as a native Cardano token.”
Yago welcomed the suggestion, indicating his willingness to explore the option: “I would hope BOS would be on Cardano. Would you like to help with that? BOS is a new type of recursive token, designed specifically to work with bitcoin. “I think it would be a very interesting type of token on Cardano.”
The integration of BitcoinOS and its BOS Grail bridge into the ADA ecosystem could potentially improve secure, trustless cross-chain transactions using zero-knowledge cryptography. This would allow DeFi applications on Cardano to access bitcoin liquidity, potentially expanding the capabilities of the ecosystem and user base.
At press time, ADA was trading at $1.01.
Featured image from YouTube, chart from TradingView.com
