IntroductionBitcoin’s immense liquidity and security have long made it the cornerstone of crypto, yet true decentralized finance (DeFi) for Bitcoin has lagged behind due to its limited scripting capabilities. Cardano, a blockchain built on a similarly robust UTXO model but with advanced smart contracts, is stepping up to unlock Bitcoin’s potential in DeFi. In 2025, Input Output Global (IOG) – the development firm behind Cardano – revealed a framework to bring Bitcoin DeFi onto the Cardano blo...