This is our flagship product, think “Aave, but for Bitcoin”: a native Bitcoin lending protocol, built directly on Bitcoin’s UTXO model.
like Babylon, it runs as a cross-chain system between Bitcoin L1 and an appchain. BTC is locked in a non-custodial vault where the borrower retains direct control. Liquidation is enforced through pre-signed txs, triggered by oracle via threshold adaptor signatures.
unlike other DLC-based lending solutions, Side Lending is a pool-based protocol, not a peer-to-peer product. It can serve as the native BTC borrowing backend for any Bitcoin app with strong DeFi composability
we’ve implemented everything required to make this work: Bitcoin scripts, enshrined decentralized oracles and Bitcoin light client, lending modules, trustless relayer and much more.
as mentioned in the post, we’ll launch this on a new testnet first, then roll it out with the upcoming Mainnet Beta.
months of hard work, can’t wait to bring it live
🧵 Mainnet Beta Upgrade: Side Lending — Native BTC-backed Loans
1/ In the last two posts, we covered Side Bitcoin. Now we’re introducing Side Lending—the first money market that enables borrowing against native BTC in a fully non-custodial way.
Blog:
medium.com/@SideProtocol/mai…