Key figures from Loop, Inception, and ZeroLend gathered for the Pre-Token 2049 AMA to discuss the development of Bitcoin DeFi and the evolving landscape of restaking. The session covered topics such as the origins of each protocol, the challenges and potential of the Bitcoin restaking ecosystem, its impact on Ethereum, and expectations for the upcoming Token 2049 event in Singapore.

The panelists shared insights on their respective platforms' roles in the Bitcoin DeFi space, their strategies for addressing yield sustainability, and their perspectives on the symbiotic relationship between Bitcoin and Ethereum. Dive into the AMA highlights to learn how Loop, InceptionLRT, and ZeroLend are positioning themselves for the future of DeFi.

X (Twitter) Spaces: Pre-Token 2049 AMA

Speakers:

• Miguel (Inception): Growth Manager @ InceptionLRT
• Andy (Loop): Founder @ Loop
• Steven (ZeroLend): Founder @ ZeroLend

Index:

1. Panelists Introduction and Project Overview
2. Development of the Bitcoin Restaking Ecosystem
3. Potential Impact of Bitcoin DeFi on Ethereum
4. Expectations for the Singapore Event

1. Panelists Introduction and Project Overview

• Miguel (Inception): Growth Manager, working with EigenLayer, expanding into Bitcoin and other assets: “Inception is an LRT protocol currently working with EigenLayer, but we are also looking forward to expanding into new assets such as Bitcoin."

• Andy (Loop): Founder, focusing on lending market for smart collateral to achieve capital efficiency: “Loop is a lending market for smart collateral, aiming to take capital efficiency to the next level. We provide liquidity to DEXs or other DeFi platforms, allowing users to borrow against it and create new yield farming strategies."

• Steven (ZeroLend): Founder, money market live on ZK-SYNC, evolving with the ecosystem: “ZeroLend is a money market that has been live for over a year, initially launched on ZK-SYNC. We quickly established ourselves within the ZK-SYNC ecosystem, and from there, we’ve been evolving based on user needs and market demands."

• Andy (Loop): Reflecting on Loop's origin, identifying a gap in the market: “The origin of Loop comes from my personal yield farming experience. I saw a gap in the market where liquidity could be collateralized to unlock new strategies, so we decided to build it ourselves."

• Steven (ZeroLend): Addressing ZeroLend’s initial focus on ZK-SYNC: “We focused on solving problems in the early-stage ZK-SYNC ecosystem. There was no good money market or lending protocol on ZK-SYNC, so we built one and quickly dominated the space."

• Miguel (Inception): Team background and expertise in liquid staking since 2017-2018: “Our team has a strong background in liquid staking since 2017-2018. When the liquid restaking narrative emerged, we decided to apply our expertise to this new trend."

2. Development of the Bitcoin Restaking Ecosystem

• Andy (Loop): Discussing Bitcoin restaking as a new trend and concerns about yield sustainability: “I think Bitcoin restaking is in a bubble stage; everyone wants to build a new protocol, but nobody is thinking about where the yield is coming from. For Bitcoin, anything above a 0.5% yield from restaking is already a lot."

• Steven (ZeroLend): Announcing launch of the first Bitcoin market with various assets: “ZeroLend has just launched its first Bitcoin market where users can use assets like ETHERIFY, EBTC, and Pendel PD tokens to participate in the ecosystem."

• Miguel (Inception): Commenting on the careful consideration of yield sources and sustainability: “We haven't launched our BTC LRT yet because we are still trying to understand where the yield will come from and if it’s sustainable. Once we have clarity, we’ll move forward aggressively."

3. Potential Impact of Bitcoin DeFi on Ethereum

• Andy (Loop): Suggesting that Bitcoin DeFi will likely benefit Ethereum rather than threaten it: “I don't think Bitcoin will kill Ethereum DeFi. If anything, Bitcoin’s entry will help Ethereum by bringing fresh TVL to its ecosystem."

• Steven (ZeroLend): Highlighting the potential for Bitcoin market cap entering Ethereum DeFi: “We are looking at a potential $1 trillion Bitcoin market cap entering the Ethereum DeFi ecosystem, which could significantly benefit Ethereum."

• Miguel (Inception): Taking a wait-and-see approach regarding the long-term impact: “We are waiting to see how the Bitcoin DeFi ecosystem develops, whether it will grow exponentially or just be a passing trend."

4. Expectations for the Singapore Event

Event Date: Scheduled for September 17th, 2024.

• Andy (Loop): Excitement for networking opportunities, particularly with "Asian whales" for TVL: “Our goal is to hunt Asian whales and attract them to Loop to increase our TVL. The event season in Singapore is perfect for that."

• Miguel (Inception): Focused on both business development and community engagement: “Our CEO João will be there to meet investors and partners, but we also want to connect with the local community and other crypto enthusiasts."

• Steven (ZeroLend): Preparing for community engagement and offering merchandise to attendees: “We're excited to meet our users and community members in Singapore, and we’re bringing unique merchandise for everyone who stops by to say hi."

• Miguel (Inception): Mentioning the CEO's participation and inviting community members to engage: “_Our CEO João will be attending, and we encourage everyone to meet him, maybe even share a beer on us!”

• Andy (Loop): Describing the excitement about the event and the opportunity to meet partners and community members in person: “In crypto, we often build businesses without seeing each other. Events like these allow us to sit down face-to-face with the people we work with and foster new ideas."