Does Botanix's exit signal a structural demand deficit for native Bitcoin DeFi?

What happened

Botanix Labs is winding down its live Bitcoin Layer 2 network, citing weak native demand. This exit highlights a structural preference among BTC holders for wrapped assets on mature chains and regulated TradFi yield prod…

What we think

The winding down of Botanix Labs' live L2 network confirms that native Bitcoin DeFi faces a critical demand deficit.

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Does Botanix's exit signal a structural demand deficit for native Bitcoin DeFi?

We explain what happened and what could follow. We do not forecast prices.