High Tower
@htwtech
1/7 Most BTC just sits there. People stack it, hold it, and that’s it. But some are actually trying to use it. Not saying it’s good or bad, just interesting. One of those places? @BotanixLabs and their Spiderchain setup. Let’s take a look https://t.co/O5VlA0IBYI
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High Tower
@htwtech
2/7 Spiderchain isn’t a typical Bitcoin Layer 2. It’s a series of successive multisigs between Botanix Orchestrators. No extra tokens, no validators, just decentralized multisig wallets securing BTC while enabling an EVM-compatible environment 3/7 What does that actually mean? On Spiderchain, people are: 🔸Locking BTC to mint stablecoins 🔸Staking wrapped BTC for rewards 🔸Using BTC in DeFi pools 🔸Setting up multisig wallets without custodians
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High Tower
@htwtech
Not saying it’s the perfect setup, but it’s a different approach 4/7 Using BTC as collateral for stablecoins isn’t new, but usually it involves bridges or trusted third parties. Here, RovBTC stays secured by a decentralized multisig system, while USBD gives you something spendable. More like a collateralized loan, just natively on BTC
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High Tower
@htwtech
5/7 Then there’s staking. People are putting up RovBTC and earning yield. Which is funny, because “staking Bitcoin” always sounded weird. But here, it’s just BTC staying in the system while still being used for something. Different risks, different trade-offs
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