Stablecoins and Crosschain Loans: 2 Projects Attempt to Bring Defi Solutions to Bitcoin

While decentralized finance (defi) solutions have grown popular on the Ethereum blockchain, developers have recently created similar systems by leveraging BTC’s network. A project called Atomic Loans claims to offer a noncustodial bitcoin-backed stablecoin solution, while Money on chain a new smart contract built on the RSK protocol, also offers a stablecoin token.

An Attempt to Defi Bitcoin

There’s been a lot of buzz over the last two years and phrases tossed around like “decentralized finance (defi)” or “open finance.” Most of the time, cryptocurrency proponents are talking about the number of defi digital currency projects built on the Ethereum network. Popular defi projects include platforms like Makerdao, Ren, Request Network, Aave, and the Kyber Network. There’s been a lot of money tossed at these projects but they are not without controversy, as a number of defi incidents have plagued investors. Just recently news.Bitcoin.com reported on Makerdao users suing the…