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Bifrost Launches BTCFi, Native Staking Option for Bitcoin Holders
Web3 derivatives protocol Bifrost has launched its in-house native staking service for Bitcoin holders. Native staking for Bitcoin has been more of a myth than a feature. The service was kickstarted by the now-defunct Celsius Network, which was principally a centralized operation. Revealed in a recent Medium blog post, Bifrost is looking to change the game by offering decentralized Bitcoin staking via a new service it calls BTCFi.
The idea is to allow Bitcoin holders to earn passive income with minimized risk within a user-friendly platform. BTCFi is also self-custodial, meaning users will have total control of their Bitcoin assets during the staking process.
Introducing our upcoming service, BTCFi!
This is the first article in a series that will explain the service in depth.
➡️ Introducing BTCFi https://t.co/fQ5ieBb8ai pic.twitter.com/EheDSwCyR3
— BIFROST (@Bifrost_Network) February 6, 2024
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