Use Cases

Can I use my Bitcoin as collateral for loans with BeL2?

BeL2 itself does not provide loans. Instead, it enables the creation of Bitcoin-collateralized loans by other applications. For example, a loan app can leverage BeL2 technology to create trustless loans between Bitcoin and EVM-compatible chains. You can lock your Bitcoin into a smart contract through such an app and borrow stablecoins against it, all without the need for intermediaries.

How does BeL2 enable Bitcoin holders to participate in DeFi?

BeL2 allows Bitcoin holders to use their BTC in various DeFi applications without wrapping or moving their Bitcoin off the main chain. This includes participating in decentralized exchanges, yield farming, and other DeFi protocols.

Can BeL2 be used for NFTs on Bitcoin?

While BeL2 aims to support the integration of Bitcoin Ordinals, BRC-20 tokens, and Runes systems in the future, we are currently not at that stage. Potential partners should be aware that this functionality is still under development. As of now, BeL2 does not support the creation, trading, or utilization of NFTs directly on the Bitcoin network.