Bitcoin DeFi’s demand problem is becoming harder to ignore

- Botanix Labs, a Bitcoin L2 that actually shipped code and stayed online for a year, is winding down because nobody wanted to use it. They skipped the token airdrop circus to build organic demand, only to find the BTC community prefers keeping their coins in "meat wallets" or using wrapped versions on Arbitrum. The lesson? You can have 100% uptime and zero security incidents, but if you don’t offer the same liquidity as WBTC, you’re just burning hash rate for fun. Bitcoin DeFi isn’t dead; it’s just waiting for users to realize native rails are harder than wrapping their assets elsewhere. Until then, keep your yield where it’s easy, not where it’s native.