Bitcoin entering Decentralized Finance is quite a pitfall.



Look at WBTC, BTC.b, and renBTC; they are all called "Bitcoin" on the surface, but what is the reality? Some are purely custodial models, where your coins are locked in someone else's vault; some are semi-decentralized, which sound safe but are actually questionable; and others rely on cross-chain bridges to transfer back and forth, leaving you unaware of the path your BTC takes.

Encapsulation ≠ Security.
The same BTC, different packaging methods, risks vary tremendously. No matter how good the liquidity is, you must understand the underlying logic - who actually holds your coins? How can redemption be guaranteed? If you don't clarify these issues, you're just gambling.
BTC-2.6%
WBTC-2.3%
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