In a series of statements on The plan involves leveraging Bitcoin’s liquidity and creating a tiered project. 2 like network.
Timeline for Bitcoin DeFi on Cardano
Hoskinson stated: “Bitcoin DeFi is a mission-critical roadmap item that IOG will pursue in 2025 with partners such as Fair Gate Labs and community projects and wallets. I set the team a meaningful demo of Bitcoin 2025 as a goal 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 the blockchain, announced that it is integrating the BOS Grail Bridge with Cardano in partnership with Grail developer BTCOS.
Angry Crypto Show (@angrycryptoshow) wondered about Hoskinson’s announcement that Fair Gate Labs will implement the Bitcoin DeFi bridge and questioned the strategy: “Why don’t we further the momentum we had with BitcoinOS, or support Sundial , etc.”
In response, Hoskinson highlighted the role of Fair Gate Labs, stating: “Fairgate invented the technology on which BitcoinOS is based and also does not 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 could impact ADA’s participation in a multi-chain BTC DeFi ecosystem.
Hoskinson addressed these concerns by emphasizing the wider interoperability of the project: “We have a multi-chain ecosystem through Midnight. It will connect to Ethereum, Solana, Avalanche, XRP and many others. The only thing we would gain is a dilution of liquidity if BOS dumps us during the integration for the chain of the week.”
Edan Yago, founder of BitcoinOS, responded to Hoskinson’s concerns, saying: “BOS has no intention of dumping Cardano. We are actively discussing with the builders to integrate BOS with Cardano. Why wouldn’t you want us to build on it?”
Hoskinson responded by encouraging more direct involvement in the ecosystem: “Then strengthen your connection to the ecosystem and launch as a Cardano-native token.”
Yago welcomed the suggestion and indicated his willingness to explore the option: “I expected BOS to be on Cardano. Would you like to help with that? BOS is a new kind of recursive token specifically designed to work with Bitcoin. I think it would be a very interesting token type on Cardano.”
The integration of BitcoinOS and its BOS Graal bridge into the ADA ecosystem could potentially improve reliable and secure cross-chain transactions using zero-knowledge cryptography. This would make it possible The liquidity of Bitcoin accessible to DeFi applications on Cardano, potentially expanding the ecosystem’s capabilities and user base.
At the time of writing, ADA was trading at $1.01.
Featured image from YouTube, chart from TradingView.com