Daring DeFi Dalliance . . . . . . . Or Something Stacking on Bitcoin?

This Is Not Investment Advice

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When a firm as big as Kraken (also seeking an IPO) does a promo with a project claiming to be a Bitcoin layer 2 that tells me something, and that is just one signal flashing. Time for a recon of the Bitcoin Layer 2 DeFi battlefield.

First - this is unchartered territory. My senses tell me we are about to be bombarded with projects many of which could very well be extremely dubious and dangerous. Keep that in mind. Pay very close attention to charlatans from other ecosystems thumping their chest and waiving their fingers in your face lecturing you. If Bitcoin L2s take off they’re coming and looking for victims.

I’ll start with one that seems to be getting some attention with the use of Stacks:

Let’s do some swaps so we can swim (or sink) in a pool:

Then into a pool.

We’ll track it and keep you posted:

Yes, we know that APR will collapse as the pool grows. Yes, we know if one or both tokens decline in value the value of the capital in the pool that is ours is going down.