From an asset management perspective, how BTC can generate yield is still a question that hasn’t been fully explored. There’s a significant amount of idle BTC with certain financial management needs, but BTC itself isn’t based on a POS mechanism and doesn’t have native interest. The top concern for most BTC holders is security, yet traditional DeFi protocols don’t really meet the needs of this group. Saw @ArchNtwrk talking about this today—Bitcoin is exactly where most idle funds in crypto are parked, and reliable returns depend on sustainable liquidity. This idea is something I discussed with @Mercy_okx before when talking about okx’s xBTC. After rate cuts, if BTC can provide sufficient inflation resistance, then surely many people would want to maximize the utility of their BTC to make it work for them. The challenge is how to ensure security for this type of financial management need.