In a series of statements on X, Charles Hoskinson, the founder of Cardano and CEO of Input Output Global (IOG), outlined his plans to integrate Bitcoin into a decentralized finance (DeFi) ecosystem by 2025. The plan involves leveraging Bitcoin’s liquidity and making the project a layer-2 like network.

Timeline For Bitcoin DeFi On Cardano

Hoskinson stated, “Bitcoin DeFi is a mission-critical road map item that IOG will be pursuing in 2025 with partners like Fair Gate Labs and community projects and wallets. I’ve given the team a goal of a meaningful demo by Bitcoin 2025 in May. It’s an enormous amount of work, but the opportunity is there and it’s time to #AwakenTheSleepingGiant Bitcoin.”

The announcement sparked a debate concerning the future integration of BitcoinOS (BOS), a smart contract operating system designed to enhance Bitcoin’s interaction with DeFi platforms. On October 24, Emurgo, the commercial arm of the blockchain, announced that it is integrating the BOS Grail bridge with Cardano in partnership with Grail’s 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 are we not fostering the momentum we had with BitcoinOS, or supporting Sundial, etc.”

In response, Hoskinson emphasized the role of Fair Gate Labs, stating, “Fairgate invented the technology that BitcoinOS is based on and also doesn’t require its own token. Only bitcoin needs to be used for cross chain transactions.”

Community member J₳zzwhistlΣ (@jazzwhistle) raised concerns about how bypassing BitcoinOS might affect ADA’s participation in a multi-chain BTC DeFi ecosystem.

Hoskinson addressed these concerns by highlighting the project’s wider interoperability: “We have a multichain ecosystem through Midnight. It will connect to Ethereum, Solana, Avalanche, XRP, and many others. All we would gain is diluting liquidity as BOS ditches us for the chain of the week during integration.”

Edan Yago,

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Author: Jake Simmons

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