Botanix's recent difficulties highlight a key challenge: Bitcoin holders seem to favor Ethereum's decentralized finance over new Bitcoin Layer 2 solutions. This raises questions about how Bitcoin L2s can attract more users.
Botanix, a project aimed at bringing decentralized finance (DeFi) to Bitcoin, has faced setbacks, suggesting that Bitcoin users, often called "hodlers," are not yet fully embracing Bitcoin-based Layer 2 networks. Many still choose to use Ethereum's established DeFi ecosystem instead. This trend raises an important question for developers: how can Bitcoin Layer 2s, which are solutions built on top of Bitcoin to improve its speed and cost, evolve to better serve and attract the large community of Bitcoin holders to their platforms?
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