- OP_NET has launched a “SlowFi” DeFi platform that operates directly on the Bitcoin base layer using standard BTC transactions and fees.
- The model avoids bridges, wrapped assets, or a separate gas token, but makes transactions significantly slower and more expensive than on other chains.
- The project has ignited a debate within Bitcoin circles over whether DeFi-style activity strengthens the fee market or clogs the network.
The project OP_NET launched a “SlowFi” decentralized finance stack on the Bitcoin network this week, aiming to keep trading activity directly on the base layer. This model exclusively uses standard Bitcoin transactions with native BTC fees instead of relying on sidechains or wrapped tokens. Consequently, the platform’s co-founder, Frederic Fosco, states every transaction is “just a Bitcoin transaction with BTC as the only gas asset”.
Swap costs will typically range from $1 to $2 but can spike to $10-$20 during network congestion. However, OP_NET argues that Bitcoin’s slower block times create stickier liquidity and more durable DeFi cycles. Meanwhile, some Bitcoin users strongly oppose the initiative, arguing it introduces bloat similar to Ethereum.
Critics argued in recent posts that expanding Bitcoin’s use beyond money dilutes its core monetary purpose. Plainview countered that any fee-paying Taproot transaction is valid, warning that moral judgments over transactions grant undue control. He insisted, “The whole point is that nobody controls it.”
The project enters a space with established players like RSK and Stacks, which use different technical approaches. Plainview is betting some users will accept the trade-offs for the security of staying fully on Bitcoin’s base layer. The launch occurs during a broader fight over Bitcoin’s block space use for data-heavy applications.
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