I was recently looking at Bitcoin DeFi: Stacks and RSK/Sovryn in particular. Despite these chains being around for a while, they have not had the same level of adoption or uptake as other chains. Base, for example, which has only been around a few months, has 4X the TVL of RSK and around 25X the TVL of Stacks. Compared to other chains, Bitcoin DeFi chains barely show on the above chart (Stacks not at all). On paper, one would think that Bitcoin-dedicated smart contracts would be much more significant – Bitcoin is the biggest chain by far. So, why is Bitcoin DeFi struggling so much, and what can its struggle tell us about the sector’s future?

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