$BABY x $AAVE Babylon just proposed to bring native #Bitcoin# to Aave, the largest lending protocol in crypto. The idea is simple: you lock your Bitcoin in a vault that stays on the Bitcoin blockchain and Aave lets you borrow stablecoins against it. There is no bridge, no custodian and no wrapped version of your Bitcoin in between. Rob from Digital AssetNews told us on Double Down how he lost his Bitcoin to Celsius, because the lender was holding it when things went wrong. This setup is built so the lender never holds it in the first place. It is still a proposal and the Aave community has to vote on it before anything goes live. Full transparency: I hold BABY and Babylon presents Double Down.

From Neutron to Circle’s Arc. Ethan Buchman told me Cycles had rewritten its stack for EVM and was moving to a new chain. Today, we know which one: Cycles Pay is live on @Arc mainnet from day one. Here’s what @buchmanster said before the announcement:

I've been deep Cosmos for 5+ years. Sad to see the ecosystem collapsed the way it did, but the strategic focus of Cosmos Labs is purely on institutions, so it came with a massive tradeoff. I continue observing where it's going and still (maybe naively) believe there is always a path for recovery. A lot has crashed and burnt, and it's not been easy to sustain. Many projects, validators, developers have surrendered, exited or migrated to other ecosystems (mostly Solana + Zcash). The latest Cosmos EVM vulnerability is bad. Not only because it exposes technological- but also coordination issues. In my latest video (which I've recorded before the Cosmos EVM story unfolded), I reflect a bit on that journey and what might come next. In my view, one "positive" side effect of the brutal past 12+ months for large parts of the industry is that everyone is forced to generate revenue, otherwise we'll be washed out. Some raw thoughts after 5+ years deep in Cosmos. Either way, we'll run it back inshallah