While researching BTCFi over the past few months, I realized I was asking the wrong question.
Like most investors, I focused on APR, TVL, and #Reward emissions.
I spent a lot of time measuring yield.
Very little time understanding where #bitcoin liquidity actually goes after it enters a protocol.
That question changed how I look at @Bedrock .
Most people see a liquid restaking protocol.
What caught my attention was something deeper.
#BTC enters the system as productive collateral.
That c...