alexei
@alexeiZamyatin
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Co-founder @build_on_bob. Hybrid L2. BitVM2. @interlayHQ contributor
Joined May 2015
BOB Turns One: A Year of Building Bitcoin DeFi.One year ago, we launched BOB Mainnet with an ambitious goal: to build the best platform for Bitcoin DeFi. Today, we're proud to celebrate how far we've come. In just 12 months, BOB has achieved: .- $300 million in on-chain deposits
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Proposing the BRC-21 standard to mint fully decentralized, cross-chain tokens onto #Bitcoin. This allows minting L1 assets like ETH, SOL, DOT and decentralized stablecoins like DAI, LUSD. onto Bitcoin & use them on lightning network.
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Finally, it's live. You can now mint trustless $kBTC on @KaruraNetwork and use it on @MoonriverNW and @KaruraNetwork . We've built the most sophisticated, decentralized, and trustless BTC bridge, ever. The base is ready. Now comes the fun part.
Interlay deploy Bitcoin-based kBTC asset on Kusama network, a testing phase for eventual Polkadot launch. Story by @tomfarrencrypto
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BitVM2 and BitVM Bridge: TLDR. Today we released the BitVM2 tech and bridge paper!.Huge thanks to brilliant @robin_linus @lukas_aumayr Andrea Pelosi @zetavar1 @matteo_maffei . TLDR: .- BitVM2 is a major improvement over previous BitVM versions. - BitVM Bridge is now the most
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Excited to work with @chainlink on greatly improving interoperability with L1s and L2s beyond Bitcoin and Ethereum. More liquidity, faster, from any chain.
BOB is adopting @Chainlink CCIP as its canonical cross-chain infrastructure for tokens native to the BOB network. By adopting the Chainlink standard for secure cross-chain interoperability, BOB reinforces its mission to position Bitcoin as the backbone of DeFi. CCIP will
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Excited to announce our $10m funding round for @build_on_bob to create the first hybrid L2, combining the best of both worlds from Bitcoin and Ethereum. We're honored by the trust of OGs @nic__carter @MattWalshInBos and their incredible team at @CastleIslandVC -- as well as.
BOB, a hybrid layer-2 blockchain atop Bitcoin, but with Ethereum compatibility, has raised $10 million in seed funding. By @JamieCrawleyCD $BTC $ETH.
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Bitcoin DeFi is one of the biggest opportunities of this decade.
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Seems @build_on_bob has the most โon-chainโ TVL of all Bitcoin L2s/sidechains?. 224m and growing.
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Bitcoin DeFi will be the biggest opportunity of this decade. There is no second best.
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Build On Bitcoin.Bullish On BOB.Believe On Bitcoin.Born On Bitcoin.Big On BOB.Bitcoin Over Banks.Bring On Bitcoin. B ย ย ย ย ย O ย ย ย ย B.
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I bought some Pesos in Argentina ๐ฆ๐ท via a P2P exchange using USDT on Tron. Here's my experience ๐๐๐. First of all, why go P2P? .Because the official USD-ARS exchange rate is 2.5-3x worse than the "blue dollar" rate. I actually tried: I withdrew 30โฌ from an ATM, paid 10โฌ in
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BOB team is on fire๐ฅ.- HybridBTC launch powered by @veda_labs @pendle_fi .- DeFi campaign with @eulerfinance @GammaStrategies @Uniswap @okutrade .- BitVM bridge testnet, collab w. @fiamma_labs .- bitvm/acc institutional working group w. 20 partners. It's BTC szn.๐๐๐.
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EVERYONE WANTS TO BE A HYBRID.Bitcoin DeFi is the future. This is why @build_on_bob pioneered the Hybrid L2 design, fusing the best of Bitcoin and Ethereum. It is great to see others pivot to adopt our work on Hybrid L2s and BitVM. More validation that this is the way. BOB =.
1/ Bold new narrative: Scaling Bitcoin + Ethereum together. Starknet will become the first L2 to settle on both Bitcoin & Ethereum, bringing the two largest blockchain ecosystems on a single layer, unlocking new DeFi opportunities and greater liquidity. Read our vision & plan ๐
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So excited to finally announce this. We've been working with @MarathonDH for the last few months to create the best possible chain for institutional adoption - powered by #Bitcoin, built with the @build_on_bob stack . Alys is in alpha and ready for testing by early partners,.
โด๏ธ๐๐๐ ๐๐๐๐โด๏ธ. BOB partners with Anduro by @MarathonDH to unveil Alys, a new institutional #Bitcoin L2. A blend of Ethereum's flexibility and Bitcoin's security, Alys is set to revolutionize real-world asset tokenization. Full details โฌ๏ธ
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Proposing BRC-42: an extension to the BRC-20 standard to bridge BRC-20 tokens to chains like Ethereum or @InterlayHQ in a fully decentralized manner. This unlocks countless DeFi use cases for BRC-20 tokens, such as DEX swaps, borrowing/lending etc.
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It started with a paper in 2018. Today, we've made a major step to trustless #Bitcoin #DeFi . @kintsugi_btc is live as a @kusamanetwork parachain!. Sharing our experience going through the parachain auctions, a peak behind the scenes @InterlayHQ :.
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A little bird just told me. the first-ever trustless #Bitcoin was minted on @kusamanetwork via @kintsugi_btc !!!. Houston. We have a countdownโ๏ธ. Can't wait? Prepare on
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DeFi on Bitcoin is the largest opportunity to exist in crypto.
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We're starting to see what many people in our industry have been preaching about for a decade. State-driven attacks on freedom of speech and the tech that these platforms run on. Not somewhere in a dictatorship far away. No, right here, in the heart of Europe. But are we ready?.
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Announcing the prototype for BOB's trust-minimized BTC bridge - powered by BitVM. True Bitcoin DeFi is finally becoming a reality. Thanks to our strategic collaboration with the rockstar @fiamma_labs team, we have significantly accelerated the BitVM development timelines ๐.
Introducing BOBโs BitVM Bridge Prototype, developed with @fiamma_labs. This marks a major step in combining the best of Bitcoin and Ethereumโusing zero-knowledge (ZK) technology for trust-minimized Bitcoin bridging. This is bridging, rebuilt for Bitcoin DeFi.
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My research work has now been cited over 1000 times๐. This doesn't make me any more qualified to talk about #Bitcoin than the many brilliant builders that decided not to go into academia - but still feels like a person achievement worth sharing .
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Bitcoin Nashville was impressive. TLDR:.- Event packed every day, not quite Web Summit scale but soon?.- Entire track on politicians & tradifi fomo-ing into BTC.- Was great to meet old friends but also see so many new faces.- Main focus is still on adoption.- Bitcoin L2.
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@kintsugi_btc network has officially launched. 100% zero-compromise decentralization from day 1. No admin keys, backdoors, or voting power majority by anyone. Path cleared for trustless #BTC on @kusamanetwork, @Polkadot - and then *everywhere else*. Kudos @InterlayHQ.
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BOB just crossed 100m+ in DeFi TVL. 60m in @Uniswap making @build_on_bob the #5 largest Uniswap market in just 1.5 months. #Bitcoin DeFi is warming up.
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BOB is officially becoming a ZK rollup. An important step on our road to full Hybrid. ZK validity proofs ensure: .- BOB chain is valid = sequencer cannot produce invalid blocks.- BitVM readiness. The validity proofs will be verified in BOB's BitVM bridge to Bitcoin. Very.
4/ Teams are already integrating ZK with OP Kailua:. โ @eclipseFND is using OP Kailuaโs dispute mechanism to easily add ZK fraud proofs. โ @build_on_bob is launching with ZK fraud proofs (Hybrid Mode), then later upgrading to Validity. Adding ZK proofs is easier than ever.
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PSA. We all want ZK rollups on Bitcoin. However, saying "we're building ZK rollups on Bitcoin" is like saying "we're building a space station for another galaxy". That's a great, visionary project but the prerequisites don't exist yet. Bitcoin *cannot verify ZK proofs*. The
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BOB just crossed 300m in TVL .(incl. borrows on @eulerfinance and @avalonfinance_ ). #7 on L2beat (excl native tokens).#5 Uniswap deployment (ahead of BSC, OP).#3 Superchain (After Base, OP)
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As much fun as we have working on it, BitVM isnโt just a passion project. The goal from the get-go has been to come up with something practical and scalable that could realistically enable Bitcoin DeFi โ and we think weโve finally nailed it with BitVM2.
BitVM2 and BitVM Bridge: TLDR. Today we released the BitVM2 tech and bridge paper!.Huge thanks to brilliant @robin_linus @lukas_aumayr Andrea Pelosi @zetavar1 @matteo_maffei . TLDR: .- BitVM2 is a major improvement over previous BitVM versions. - BitVM Bridge is now the most
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We've released the BitVM2 tech and bridge paper!!!.
Excited to share our work on BitVM bridges: A novel trust-minimized protocol to bridge Bitcoins to second layers. Huge thanks to @lukas_aumayr, @alexeiZamyatin, Andrea Pelosi, @zetavar1, and @matteo_maffei for their amazing contributions ๐งก.
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Daily reminder that real Bitcoin L2s still don't exist yet.
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Making Bitcoin the center of DeFi is now becoming a reality. Bitcoin lacks the natural smart contract functionality that exists on Ethereum and others, this has meant itโs fallen behind when it comes to DeFi. But that doesnโt mean that we canโt solve the fragmented BTC multi
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PSA. No, we do not yet have ZK roll-ups on Bitcoin. We can hopefully do optimistic roll-ups with a 1-of-n trust assumption. ZK can save costs here but that's all. Anything else is marketing. We're working on L2Beat for Bitcoin to set the records straight in this space.
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BOB is a Bitcoin L2. BOB is an Ethereum L2. BOB is a first-of-it's kind hybrid L2. BOB will be the most secure L2 through the combination of Bitcoin's PoW and Ethereum's PoS - even before BitVM is live
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#Bitcoin renaissance is here โจ. Went on @CoinDesk TV today to talk #Bitcoin sidechains, drivechains and our new layer 2 stack #BoB @build_on_bob .
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#Bitcoin DeFi just won a major supporter. Thrilled to welcome @VelodromeFi to the @build_on_bob ecosystem. Boasting ~740m TVL across Optimism and Base, Velo/Aero is an absolute DeFi heavy hitter. Let's grow this to the billions with BTC liquidity.
Announcement: @VelodromeFi is setting course on #BOB! ๐ดโก๏ธ๐จ. As the pioneering Bitcoin L2 with EVM compatibility, we're excited for Velodrome to deploy its innovative DEX technology on our network. This collaboration propels us towards a future where Bitcoin DeFi thrives,
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@kusamanetwork gov has approved the onramp proposal โ
๐ณ๏ธ @BanxaOfficial is coming to 10 Kusama parachains๐ฅ@kintsugi_btc, @bsx_finance, @KaruraNetwork, @AjunaNetwork (Bajun), @oak_network (Turing), Statemine & 3 more. Brought to you by @InterlayHQ -.
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Just set up my first decentralized DCA into #BTC via @hydra_dx and @InterlayHQ . #TrueBitcoinDeFi. Not financial advice!
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6/6 Disclaimer: .- I founded @InterlayHQ which is a Polkadot parachain.- I am heavily betting on @cosmos IBC replacing centralized bridges . Our goal as a product is to work with both networks - and hence competition is good IMO.
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We're trying something new. Smart contracts for #Bitcoin in. Rust! . Sounds exciting? We're looking for builders who want to revolutionize how we use #BTC and contribute the new open financial system. Join the @consensus2023 or @encodeclub hackathons now!.Links below.
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On @build_on_bob via @SovrynBTC.
Imagine what happens when people can actually buy Bitcoin tokens.
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This is why we need a native, common good oracle solution for @Polkadot.
Chainlink continues to blackmail DeFi teams into paying exorbitant fees for its centralized oracle service.
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@aave temp check to deploy to BOB passed with 820k AYEs (100% approval). Now the work beginsโฆ we are taking BTC DeFi mainstream .
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2024 was a big year for BOB and Bitcoin DeFi๐. 1) Bitcoin DeFi gained real traction .Bitcoin DeFi TVL exploded in 2024, surpassing $15 billion. Bitcoin staking and BTC LSTs unlocked unprecedented liquidity, making Bitcoin DeFi a force to be reckoned with. On BOB, numbers speak
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I don't agree with the way the Solv discussion is being handled on Twitter. Transparency is important and we should strive to achieve it. At the same time, spreading FUD without clear proof isn't contributing to transparency either. I think every party should engage in a more.
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100m TVL in less than 4 days. The #Bitcoin Renaissance has arrived. Now, it's up to us builders to continue shipping ๐ซก No easy task, both engineering (BitVM) and UX-wise - but we'll work harder than ever to make it happen. The stakes are high!.
๐ Milestone Achieved ๐. We've crossed the $100M TVL mark in #BOBFusionโ๏ธ. Overnight, your support propelled us past this incredible milestone. What's next? Stay tuned! ๐
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Early on, people faded Bitcoin L2s. When for a while only @Stacks and @Rootstock_io were competing. Now we have over 80 teams building in this space, the market size and opportunity is huge. The teams that balance tech, product and users will win big. Locked in for 2025.
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99% of bridges are trusted multisigs. @InterlayHQ's BTC bridge is secured by a decentralized network of vaults, collateral and light client proofs. They are not the same. Independent collateral backing monitor by @DIAdata__org :.
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After months of non-stop building @InterlayHQ is launching a #Bitcoin DEX and lending protocol next week!. Security is our #1 priority. - Trustless #BTC bridge live for 1 year.- 6 security audits.- 4mos of DeFi hub testnet. Next week: gated, experimental launch on @kintsugi_btc
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It is with great pleasure that I share - I have successfully defended my PhD thesis with minor corrections after 4 years of research @imperialcollege ๐๐ .Thanks to my supervisor @will_wjk and the examiners @mrahuth and @socrates1024.
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If you're into Bitcoin L2s, start following @build_on_bob . BOB is a first-of-it's kind hybrid L2 combining BTC and ETH security and liquidity. BOB will be the first to launch and kick off the #Bitcoin L2 season.
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BOB completed the year with a bang. Last week alone:. - BOB x @babylonlabs_io partnership and special campaign . - BitVM prototype dropped with .@fiamma_labs.- @Lombard_Finance live on BOB .- Aave DAO posted temp check for @aave on BOB. So much more coming in early 2025.
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I donโt usually do this butโฆ weโre dropping huge updates next week. Follow @build_on_bob.
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#Bitcoin is experiencing a renaissance. It's time to build - and we're shipping the best tools to innovate on #BTC. Stay tuned for more. #BOB.
The team behind Interlay announced plans for BOB, a new Bitcoin layer-2 network compatible with Ethereumโs EVM software environment. @InterlayHQ $BTC In Protocol Village by @liqquidity .
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1\3 โPay-To-Win: Incentive Attacks on Proof-of-Work Cryptocurrenciesโ. Joint work with A.Judmayer, N.Stifter, I.Tsabary, @ittayeyal , P.Gazi, S.Meiklejohn and @weippl @SBA_Research @tuvienna @imperialcollege @TechnionLive @initc3org @InputOutputHK @ucl .
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Markets are red.ETH L2s feeling blue.Bitcoinโs the king.And itโs coming for you. @build_on_bob DeFi TVL up only, #6 rollup on @DefiLlama
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BOB likes securely bridged BTC. Bridges are never without risk but tBTC v2 has done an impressive job of creating a robust, MPC-based solution to secure BTC wrapping. Excited to grow the Bitcoin DeFi ecosystem together.
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I have just learned that being "Inner Circle CT" means that people get Yaps for interacting with me, and that I should share this publicly. Come say gBOB and get your yaps
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I'm a Bitcoin maxi -- I believe Bitcoin is our best shot at a decentralized world. I'm also a massive fan of what Ethereum has done and can recognize the contributions it's made. We exist. Be tribal against oppression and authoritarians, not other innovators.
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Don't get the FUD. - Gavin co-created 2 of the most prolific web3 networks .- Always said he's better at tech than being CEO.- Hired experienced C-suite to lead super-growth company Parity.- Made businesses oriented co-founder Bjรถrn CEO so he can focus on DOT tech. This is good.
Iโm happy to announce that Parity co-founder Bjรถrn Wagner will step up to the role of company CEO while I retain the title of Chief Architect.
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Co-hosted Bitcoin L2 session at Satoshi Roundtable in Dubai. Most attended session of the entire event. We're so back.
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This is your reminder that the best of Bitcoin and EVM is being built at BOB. The proven recipe of Bitcoin security coupled with Ethereum programmability will usher in the most liquid, powerful and largest DeFi ecosystem. Trust the numbers, and in this case, trust Bitcoin.
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BOB is partnering @babylonlabs_io to revolutionize Bitcoin DeFi. BOB gets Bitcoin security via BTC staking. This is a core part of Phase 2 of the Hybrid L2 roadmap - and will make BOB the most secure L2 on the market (ETH + BTC). BOB is now the best place for BTC LSTs. BOBโs.
Introducing BOB as a Bitcoin Secured Network (BSN). Through our integration with @babylonlabs_io, weโre bringing Bitcoin finality to the Hybrid L2 and making @build_on_bob the best place to use BTC Liquid Staking Tokens (LSTs).
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I've been saying lightning doesn't work for years. Too many VCs blindly invested in LN without understanding it - in absence of other solutions. It seems we've reached a point where LN failure is widely accepted among previous supporters. It's time to admit and move on to.
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It doesnโt matter how good or principled the tech is if nobody wants to use it. Thatโs why at @build_on_bob weโre building for users โ not just ethos. Weโre not Bitcoin maxis. Weโre not Ethereum maxis. Weโre end-user maxis.
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Over $100m of BTC is now locked (non-custodial) in BOB Fusion, ready to deploy into the dozens of BOBโs DeFi apps once mainnet goes live shortly after the Bitcoin halving. BOB is becoming *the* new kid on the block and weโre here to stay.
๐ #BOBFusion Season 1 update as we prepare for Season 2:. ๐น 12K+ participants.๐น $219.3M TVL locked. Highlights:.๐ธ $114.67M in BTC assets.๐ธ $31.07M in ETH assets.๐ธ $21.57M in stablecoins.๐ธ $44.96M in eSOV. Stay tuned for more as we approach the grand finale! ๐ฅ
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Is it not time to change this? With DOT at $50 this is quite high.
Make sure your account balance does not drop below 1 $DOT when you are contributing to crowdloans on @Polkadot
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Announcing BOB Stake: The 1-click Bitcoin LST portal and SDK. BTC staking is the most exciting new DeFi primitive, expected to activate $ billions of dormant BTC. BOB Stake is a novel, one click portal aggregating dozens of the leading BTC LST and yield products, built on
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Update: BOB TVL is at 180m.
BOB just crossed 100m+ in DeFi TVL. 60m in @Uniswap making @build_on_bob the #5 largest Uniswap market in just 1.5 months. #Bitcoin DeFi is warming up.
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Less than one month to @build_on_bob Mainnet. Less than 5 days until BOB Fusion. Are you ready for the orange season anon?.
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How to build a decentralized #Bitcoin bridge. A thread (in images), summarizing 5 years of research and building the first fully decentralized BTC bridge. ๐.
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I'm now the owner of Orb #2 @orb_land and have the power to ask @nic__carter a question every 7 days. Why is this interesting? .@orb_land is an experiment started by @ercwl that allows experts to charge for "consulting" on-chain, while creating an open market for information.
Following in @ercwl's footsteps, I am announcing the issuance of the second ever Orb (@orb_land). Auction starts soon! .
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I think it's time to pump thrse numbers for Bitcoin dapps.
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Shh, Udi is asleep. Time to post some BitVM stuff. BitVM v2 is pretty cool: much simpler than v1, allows anyone to challenge and uses some pretty cool new Script tricks. Still WIP with a few construction sites but the speed at which this is improving makes me very bullish.
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Non-custodial bridges do not exist. To bridge = to deposit. 99% of bridges today are one of:.- Trust a single signer.- Trust in honest majority of a multisig/threshold sig (statistical security). Better (hopefully soon): .- Lock in a smart contract and trust light clients . For
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Centralized products become more risky as they get bigger. Decentralized products become less risky as they get bigger.
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Adding new features to Bitcoin is necessary - but rushing them is dangerous. Funding initiatives and experimentation to validate before pushing for a fork is the right way to go about this. Shoutout to @StarkWareLtd for putting up $1m for an OP CAT fund!
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Interoperability Deep Dive: XCMP vs IBC vs Optics. Short, purposefully simplified Sunday deep dive into the 3 hottest cross-chain protocols between smart contract chains. As usual: DYOR & feedback/corrections welcome!.
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5/6 Who has the advantage?๐๏ธ๐. Tech-wise, Polkadot might have a slight edge here. Marketing/BD-wise, Cosmos seems to have an edge, with @dYdX onboarding. USDC is coming first to DOT.
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A Bitcoin Rollup inherits **nothing** of Bitcoin's security ๐ซ. Yes, you use Bitcoin as an expensive bulletin board for data availability. This is not new. Colored coins are older than Ethereum. It's the **same**. Even merged mining is better bc at least some miners verify.
You can now run a sovereign rollup on Bitcoin. Announcing the first research integration of Bitcoin as a data availability layer for sovereign rollups. ๐งต.
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It's a #Bitcoin L2.It's an #Ethereum L2.It's a Hybrid L2 . and it's launching at the Bitcoin Halving. #HybridL2 @build_on_bob.
JUST IN: BOB announced its Rollup roadmap at the Bitcoin Renaissance event, during #EthDenver 2024. A thread w/ each phase explained by Co-Founder @alexeiZamyatin. ๐
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Millions have been raised for interoperability - via trusted bridges. @wormholecrypto @MultichainOrg @axelarcore @CelerNetwork @nomadxyz_ @LayerZero_Labs and now @EclipseFND . Needed today - but temporary solutionsโณ. A thread on the future of trustless bridges ๐๐ .1/12.
The tooling that Eclipse will provide to developers will enable the next generation of web3 applications, offering unparalleled dedicated throughput while borrowing the security, decentralization, and reliability of existing L1s.
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