I am starting to move my ETH to BTC.
heres why, n keen to hear to thoughts
I am starting to move my ETH to BTC. Even with BTC on a down trend thru out last year, it made sense most people to hold ETH because yield opportunities, airdorp farming on L2s, eigenlayer etc
With rumors of @babylon_chain going on live in 1-2 weeks, the similar opportunity might be occurr. Although we had disappointing outcome for most BTC L2s from onchain activity to lack of understanding and ability to build an ecosystem.
However like the Arbitrum/OP ecosystem in 2023, you only need 1-2 ecosystem to work out to get everyone excited about L2s or new L1s again.
switching ETH to BTC seems like low downside trade if u price in potential yield farming + airdrops ( as retail )
Quick thoughts
> more/new BTC L2 should focus on more giving incentive to promo onchain activity but not just deposit BTC n get points, if u study other closer to points program on the market most points program's boost goines 1.5-3x to promo LP or lending to diluted out "basic" depositer
potentially wbtc to btc L2 bridge to earn more arbitrage n fees from someone like @Cobo_Global ?
or we can have some bullshxt meme btc bridge like $MUBI to have a run again lol ( which i might ape lmao )
protocols with live token that will benefit from Babylon coming live
... maybe @GearboxProtocol