Bitcoin DeFi is Here—And Midl is Leading the Charge
In Brief
Georgy Skr, DevRel at Midl, reveals how Midl is breaking barriers in Bitcoin DeFi—giving EVM developers direct access to Bitcoin liquidity and making DeFi on Bitcoin as seamless as Ethereum.
Bitcoin’s DeFi ecosystem is expanding, and Midl is at the forefront of this transformation. At the Hack Seasons Conference, Georgy Skr, Developer Relations at Midl, shared insights into how the platform is helping EVM developers tap into Bitcoin liquidity, the role of abstraction layers in simplifying DeFi development, and what’s next for Midl.
How Midl Enables Seamless Liquidity Access
Bitcoin’s ecosystem has traditionally been limited in terms of DeFi capabilities, but Midl is changing that by enabling EVM developers to access Bitcoin liquidity and assets like Runes and Ordinals. Unlike standard bridges that simply transfer funds to a separate virtual machine, Midl abstracts computation without moving assets off Bitcoin.
“We help scale Bitcoin by abstracting computation rather than bridging funds out. Instead of executing everything off-chain and storing proofs, we act as an abstraction layer—keeping the core process on Bitcoin while only offloading a small portion of computation to a validator network,” Georgy explained.
This unique approach ensures that transactions remain secure and decentralized while developers can interact with Bitcoin in a way that feels familiar to them, much like deploying on Ethereum or other EVM chains.
Runes and the Future of Bitcoin DeFi
The rise of Runes, Bitcoin’s native token standard, has sparked significant interest in building DeFi on Bitcoin. However, one of the biggest challenges facing Runes adoption is the lack of clear utility.
“Shoutout to the Runes community—they’ve done an amazing job despite the challenges. The adoption level is strong, and founders are still working to improve the protocol while ensuring it remains decentralized,” Georgy said.
Midl is playing a critical role in bringing new capabilities to Runes, inviting the community to explore how the platform can enhance their ecosystem and unlock new financial applications.
The Challenges of Building DeFi on Bitcoin
Developing DeFi applications on Ethereum or other smart contract platforms is relatively straightforward, but on Bitcoin, the process can be slow and complex.
“Some of the first DeFi apps on Bitcoin have taken 7 to 12 months to build, whereas similar apps on Ethereum might take just one to three months,” Georgy noted.
This is largely due to the immaturity of Bitcoin’s DeFi ecosystem and the technical difficulties involved in development. Midl is tackling this challenge by offering easy migration tools and Midl.js, a developer-friendly JavaScript library that provides essential tools for interacting with Bitcoin’s ecosystem.
What’s Next for Midl?
Midl is preparing for a major announcement in mid-March as they roll out their early adopters partnership program.
“We already have numerous builders working on top of Midl, and we’ll be announcing their projects soon. We’d like to invite everyone to build with us,” Georgy revealed.
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
