Hi folks — we built a new product at @coinbase that lets you borrow USDC against Bitcoin, fully onchain and dead simple to use. 

We call this the DeFi mullet. CeFi in the front and DeFi in the back. 

This was a year long project with first principles thinking. 

➡️ Doing an AMA through the weekend. Fire away questions or thoughts.

Product @ Coinbase. Techno optimist 🛠️

Question, are you essentially just wrapping the BTC & staking on their behalf on Morpho?

Just A Girl & Her Cryptos 💙 GLOOM Enjoyoooor 👽 Gloomer /gloomtoken - FID: 20147.

Yeah pretty much. Wrapping BTC and locking it in Morpho, all controlled by the users wallet.