September 24, 2024 • 8 mins
The recent Cardano hard fork brings more interoperability to Cardano to the Bitcoin ecosystem. Users on Bitcoin can now interact with DApps that have done the work to connect with Bitcoin native wallets. This allows users to start using their Bitcoin wallets to interact with Cardano DApps.
This allows Bitcoin users to explore Cardano DeFi and NFTs while Cardano DApps get opened up to an eager user base that is looking for more opportunities and gains.
Timestamps
00:00 Intro
02:53 Wen
03:23 Current Interoperability
04:27 FluidTokens Building on Bitcoin
06:17 Getting into Bitcoin
06:59 Disclaimer
Links and references
https://x.com/ElRaulito_cnft/status/1838145789215776978
https://x.com/selfdrivenMark/status/1838121312100708701
https://bridge.wanchain.org/AssetBridge
https://rosen.tech/
https://app.rosen.tech/
https://x.com/Fluidtokens
https://x.com/FluidtokensXBT
https://app.fluidtokens.com/btc/swap
https://www.xverse.app/download
This allows Bitcoin users to explore Cardano DeFi and NFTs while Cardano DApps get opened up to an eager user base that is looking for more opportunities and gains.
Timestamps
00:00 Intro
02:53 Wen
03:23 Current Interoperability
04:27 FluidTokens Building on Bitcoin
06:17 Getting into Bitcoin
06:59 Disclaimer
Links and references
https://x.com/ElRaulito_cnft/status/1838145789215776978
https://x.com/selfdrivenMark/status/1838121312100708701
https://bridge.wanchain.org/AssetBridge
https://rosen.tech/
https://app.rosen.tech/
https://x.com/Fluidtokens
https://x.com/FluidtokensXBT
https://app.fluidtokens.com/btc/swap
https://www.xverse.app/download
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
This is crazy. Breaking down the barriers and creating more
interoperability between different chains is super important in crypto, and
this is a brand new way that bitcoin users can
interact with Kadano DAPs natively. This is super exciting. Let's
get into it. Hey everyone, I'm Peter buy If this
is your first time here, thumbs up, subscribe notification bell
(00:22):
works wonders with a YouTube algorithm and I'll keep you
up to date with everything that's happening in the Cadano
and crypto space. Now, this is the big, big thing here,
and this is something that Raoul from Fluid Tokens has
been working on and the last chang hardfook, the last
hard fook that Caadana had introduce something in Fludus B three,
(00:44):
the smart contracting language for Candano, and this allowed anyone
with a bitcoin wallet to now interact and sign transactions
on Kardano DAPs natively, So you don't need to set
up a new wallet. You can load up yourf a
wallet you're using in the bitcoin space and connects to
the various DAPs out there. So there's a little bit
(01:06):
of work that the ADAP developers need to do, but
this allows them to interact with a new algorithm that
was introduced. This is the step peed two five six
K one algorithm. I know that's a bit of a
mouthful there, but essentially this algorithm, if the bitcoin wallet
is using it, it will allow them to interact with
the particular DAP and then starts interacting with Cadano DeFi.
(01:30):
So this opens up a whole lot of doors for
various adaps in the Cadana space, but then also opens
up a lot of doors for Bitcoin users to explore
DeFi options. So this is absolutely amazing. So hell, let's
have a look here at what the guys from IGON
have said. Wait, so could bitcoin holders actually run an
igone node by purchasing and staking IAG and earn rewards
(01:54):
in IAG two Boom, A bridgeless economy is on the horizon.
Imagine the power of IEG. Seamless assets float across networks,
no bridges, no extra wallet's, just pure interoperability, unlocking new
awards and decentralized opportunities for all. This changes everything, It
totally does. This is something I've been talking about in
(02:14):
my videos. I've said there's various brand new algorithms that
have been introduced in blues V three for this level interoperability,
which opens up so many doorways. There's so many cases
and so many situations in the past where users have
come to Cadino adaps and when I can't connect my
meto mark, why can't I connect my trust wallet to this?
(02:35):
I don't understand. Ah, it's a scam. Let's get away
from this. And because of that lack of interoperability between
the different wallets and different ecosystems, it has stopped a
lot of people participating in those particular DAPs. So this
is a big step forward for the Cadano space and
for interoperability overall. Now we do have to wait for
various DAPs to integrate this in, but Raoul here has
(02:57):
already done a lot of work for their so he's
pioneering this for the space. Hopefully, the smart contracts and
the work will be open source and other people can
see how it's done. I'm sure other smart deths are
working on already as well, but this will allow all
these other DAPs to start interoperability on their DAPs too.
With the bitcoin experience now, fluid tokens have been doing
(03:19):
a lot in the bitcoin space. I'll talk about that
in a moment as well. But let's have a quick
look at the existing interoperability within the Cardano space with bitcoin.
So we do have some options here. So if you
are holding BTC and you want to participate in Cardano DeFi,
there's some options here for you. Now you can move
your assets over using the one train bridge. This is
(03:41):
one of the really good ones. Here. You can choose
your chain the from chain Bitcoin, choose BTC destination chain Cardano,
and then BTC. This here you will need to enter
in your Cardano wallet once you've had your Cardano wallet
added in there. So set that up, get it all
ready to go. Your wrapped asset, the wrapped BTC you
will appear in your wallet and one change just takes
(04:02):
a very small fee. You do have an alternative option
as well with rosen Bridge. Rosen Bridge is built by
a lot of the developers in the Ergo space. Now
they allow for the bridging of Bitcoin to Godano and
to the Ergo ecosystem, so you have the options there
as well, and they take a little small fee for
bridging your BTC over. So you can find the wrapped
(04:22):
version of this which is our BTC, and you find
it on the various decks is out there too. Now
let me go back to fluid Token and some of
the really cool work that they've been doing between the
two chains. Fluid Tokens had built their borrowing and lending
platform on the Kadano ecosystem and built it out really,
really well. I think it's one of the best ones
(04:43):
out there. Allow for exotic assets such as NFTs that
have boosts staking rewards by lending out your staking power
so you can lend out your voting power and all
that to earn some extra ada from it. So there's
a lot of options, a lot of really unique D
five plays within the flulld tokens team. Now, they took
a lot of the things that they've learned from the
(05:04):
building on Kadano, which I think is pioneering and really
hard in itself, and took it to Bitcoin and built
things there. So they've gone and replicated a lot of
their stuff that they're built on the Kdana side over
to Bitcoin. So now you can have live permission less
staking on Bitcoin on various runs out there. This is
the platform here itself. They've also got the swaps native
(05:28):
swaps here, They've got lending, staking all sorts of things
that are that bitcoin users didn't really have, and they've
done it in a permissionless way, so you're not giving
up your assets to a third party custodian. They're doing
it through your wallets and native staking with smart contracts.
So this is super exciting that they've been able to
(05:49):
do this and drive up this interest from the bitcoin
side of things. You can see here the interest on
their platform is rising. Look at this tweet. Over sixty
runs now blew staking doesn't stop, so more and more
people are interested in this platform. Just within the little
amount of time that they've gone through and set everything up,
people are starting to jump in and realizing that this
(06:11):
is a really cool thing for the bitcoin communities and
all of those ruine holders out there. Now, if you're
on the Cadana side of things and you want to
check out what the flu Tokens team have been doing
on the bitcoin side, this is a really good wallet
that you could use. This is x Verse bitcoin wallet.
This is a fantastic wallet that I've been playing around with.
And this is the same wallet that a Role is
(06:32):
using in his demonstration here as well. So this is
a really good wallet to start playing around with if
you haven't played around with the ruins or anything like that,
so have a look at this one here. Download it.
You've got to set up your seed phrase and all
that again, but you'll be able to start interacting with
the Ruin side of things bitcoin and then see what
this experience is going to be like interacting with Cadano
(06:54):
DApps with a Bitcoin wallet. This is huge for interoperability too.
From here, we may start seeing a lot of DAPs
now building for the Bitcoin side of things as well,
or rebranding their apps and then having a Bitcoin frontien
interface and then allowing those users to participate in defive,
(07:15):
participate in deep in and all these other really cool
projects that are building on the Cadino side, but then
allow those Bitcoin holders to just natively work with it.
So this is super exciting to see. We will start
seeing some more Cardino assets move over to bitcoin as well.
Fluid Tokens is one of those assets that is moving
over to bitcoin, and we may see a lot more
(07:37):
of that in the future. Now, just as a small disclaimer,
I used to be a fluid Tokens ambassador and do
hold a lot of those FLDT tokens. I'm a super
fan of it ever since we're all gave me the
white paper and said, hey, Pete, check this out. You
can use NFTs in your borrowing lending protocol and then
unlock the values of those NFTs. I thought that was amazing,
(07:58):
and I told them to do renting and they did.
They're really good developers out there. Give them a follow
links all down below so you can find out a
little bit more about this. Don't forget to hit that
like and subscribe on your way out, and I'll see
you guys in the next video.
This is crazy. Breaking down the barriers and creating more
interoperability between different chains is super important in crypto, and
this is a brand new way that bitcoin users can
interact with Kadano DAPs natively. This is super exciting. Let's
get into it. Hey everyone, I'm Peter buy If this
is your first time here, thumbs up, subscribe notification bell
(00:22):
works wonders with a YouTube algorithm and I'll keep you
up to date with everything that's happening in the Cadano
and crypto space. Now, this is the big, big thing here,
and this is something that Raoul from Fluid Tokens has
been working on and the last chang hardfook, the last
hard fook that Caadana had introduce something in Fludus B three,
(00:44):
the smart contracting language for Candano, and this allowed anyone
with a bitcoin wallet to now interact and sign transactions
on Kardano DAPs natively, So you don't need to set
up a new wallet. You can load up yourf a
wallet you're using in the bitcoin space and connects to
the various DAPs out there. So there's a little bit
(01:06):
of work that the ADAP developers need to do, but
this allows them to interact with a new algorithm that
was introduced. This is the step peed two five six
K one algorithm. I know that's a bit of a
mouthful there, but essentially this algorithm, if the bitcoin wallet
is using it, it will allow them to interact with
the particular DAP and then starts interacting with Cadano DeFi.
(01:30):
So this opens up a whole lot of doors for
various adaps in the Cadana space, but then also opens
up a lot of doors for Bitcoin users to explore
DeFi options. So this is absolutely amazing. So hell, let's
have a look here at what the guys from IGON
have said. Wait, so could bitcoin holders actually run an
igone node by purchasing and staking IAG and earn rewards
(01:54):
in IAG two Boom, A bridgeless economy is on the horizon.
Imagine the power of IEG. Seamless assets float across networks,
no bridges, no extra wallet's, just pure interoperability, unlocking new
awards and decentralized opportunities for all. This changes everything, It
totally does. This is something I've been talking about in
(02:14):
my videos. I've said there's various brand new algorithms that
have been introduced in blues V three for this level interoperability,
which opens up so many doorways. There's so many cases
and so many situations in the past where users have
come to Cadino adaps and when I can't connect my
meto mark, why can't I connect my trust wallet to this?
(02:35):
I don't understand. Ah, it's a scam. Let's get away
from this. And because of that lack of interoperability between
the different wallets and different ecosystems, it has stopped a
lot of people participating in those particular DAPs. So this
is a big step forward for the Cadano space and
for interoperability overall. Now we do have to wait for
various DAPs to integrate this in, but Raoul here has
(02:57):
already done a lot of work for their so he's
pioneering this for the space. Hopefully, the smart contracts and
the work will be open source and other people can
see how it's done. I'm sure other smart deths are
working on already as well, but this will allow all
these other DAPs to start interoperability on their DAPs too.
With the bitcoin experience now, fluid tokens have been doing
(03:19):
a lot in the bitcoin space. I'll talk about that
in a moment as well. But let's have a quick
look at the existing interoperability within the Cardano space with bitcoin.
So we do have some options here. So if you
are holding BTC and you want to participate in Cardano DeFi,
there's some options here for you. Now you can move
your assets over using the one train bridge. This is
(03:41):
one of the really good ones. Here. You can choose
your chain the from chain Bitcoin, choose BTC destination chain Cardano,
and then BTC. This here you will need to enter
in your Cardano wallet once you've had your Cardano wallet
added in there. So set that up, get it all
ready to go. Your wrapped asset, the wrapped BTC you
will appear in your wallet and one change just takes
(04:02):
a very small fee. You do have an alternative option
as well with rosen Bridge. Rosen Bridge is built by
a lot of the developers in the Ergo space. Now
they allow for the bridging of Bitcoin to Godano and
to the Ergo ecosystem, so you have the options there
as well, and they take a little small fee for
bridging your BTC over. So you can find the wrapped
(04:22):
version of this which is our BTC, and you find
it on the various decks is out there too. Now
let me go back to fluid Token and some of
the really cool work that they've been doing between the
two chains. Fluid Tokens had built their borrowing and lending
platform on the Kadano ecosystem and built it out really,
really well. I think it's one of the best ones
(04:43):
out there. Allow for exotic assets such as NFTs that
have boosts staking rewards by lending out your staking power
so you can lend out your voting power and all
that to earn some extra ada from it. So there's
a lot of options, a lot of really unique D
five plays within the flulld tokens team. Now, they took
a lot of the things that they've learned from the
(05:04):
building on Kadano, which I think is pioneering and really
hard in itself, and took it to Bitcoin and built
things there. So they've gone and replicated a lot of
their stuff that they're built on the Kdana side over
to Bitcoin. So now you can have live permission less
staking on Bitcoin on various runs out there. This is
the platform here itself. They've also got the swaps native
(05:28):
swaps here, They've got lending, staking all sorts of things
that are that bitcoin users didn't really have, and they've
done it in a permissionless way, so you're not giving
up your assets to a third party custodian. They're doing
it through your wallets and native staking with smart contracts.
So this is super exciting that they've been able to
(05:49):
do this and drive up this interest from the bitcoin
side of things. You can see here the interest on
their platform is rising. Look at this tweet. Over sixty
runs now blew staking doesn't stop, so more and more
people are interested in this platform. Just within the little
amount of time that they've gone through and set everything up,
people are starting to jump in and realizing that this
(06:11):
is a really cool thing for the bitcoin communities and
all of those ruine holders out there. Now, if you're
on the Cadana side of things and you want to
check out what the flu Tokens team have been doing
on the bitcoin side, this is a really good wallet
that you could use. This is x Verse bitcoin wallet.
This is a fantastic wallet that I've been playing around with.
And this is the same wallet that a Role is
(06:32):
using in his demonstration here as well. So this is
a really good wallet to start playing around with if
you haven't played around with the ruins or anything like that,
so have a look at this one here. Download it.
You've got to set up your seed phrase and all
that again, but you'll be able to start interacting with
the Ruin side of things bitcoin and then see what
this experience is going to be like interacting with Cadano
(06:54):
DApps with a Bitcoin wallet. This is huge for interoperability too.
From here, we may start seeing a lot of DAPs
now building for the Bitcoin side of things as well,
or rebranding their apps and then having a Bitcoin frontien
interface and then allowing those users to participate in defive,
(07:15):
participate in deep in and all these other really cool
projects that are building on the Cadino side, but then
allow those Bitcoin holders to just natively work with it.
So this is super exciting to see. We will start
seeing some more Cardino assets move over to bitcoin as well.
Fluid Tokens is one of those assets that is moving
over to bitcoin, and we may see a lot more
(07:37):
of that in the future. Now, just as a small disclaimer,
I used to be a fluid Tokens ambassador and do
hold a lot of those FLDT tokens. I'm a super
fan of it ever since we're all gave me the
white paper and said, hey, Pete, check this out. You
can use NFTs in your borrowing lending protocol and then
unlock the values of those NFTs. I thought that was amazing,
(07:58):
and I told them to do renting and they did.
They're really good developers out there. Give them a follow
links all down below so you can find out a
little bit more about this. Don't forget to hit that
like and subscribe on your way out, and I'll see
you guys in the next video.
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