OP_NET Introduces “SlowFi” DeFi Stack on Bitcoin Without Wrapped Assets
- OP_NET is launching a decentralized finance (DeFi) stack called “SlowFi” that utilizes standard Bitcoin transactions and native BTC fees.
- The platform aims to facilitate trading and yield activities directly on Bitcoin’s base layer, avoiding sidechains and bridges.
- Typical transaction costs range from $1 to $2 under normal conditions, escalating to $10-$20 during congestion.
- Critics argue that OP_NET may introduce Ethereum-style bloat to Bitcoin’s network, diluting its primary monetary focus.
- Cofounder Danny Plainview emphasizes that all transactions are legitimate uses of block space, advocating for miner revenue stability as subsidies decline.
The introduction of OP_NET’s SlowFi model represents a significant shift in the Bitcoin ecosystem by integrating DeFi functionalities directly into its infrastructure while maintaining transaction integrity through standard fees.
With typical swap costs ranging from $1 to $2, OP_NET aims to provide a unique alternative for users who prefer remaining within the Bitcoin network despite potentially higher fees and slower transactions. (Source)
