Bitcoin has won the decentralized digital money race—institutions, Saylors, nations, and sovereign wealth funds all have BTC on their balance sheets.
However, its role in DeFi has been lacklustre due to its base layer design, which aggressively prioritizes security and decentralization over programmability. And this single-minded focus on being an alternative currency without outside focus is what has made Bitcoin great.
But, the market has spoken, and it says that smart contract platforms have value. Ethereum and Solana have dominated DeFi, enabling lending, stablecoins, and tokenization. Entire parallel economies have emerged, and Bitcoin has missed all of this economic activity. Well, it had, until we came onto the scene.
Bitcoin Pepe is unlocking Bitcoin’s DeFi potential while preserving its core security. Our breakthroughs will allow Bitcoin to compete with other alternative layer ones as a smart contract platform with superior security and superior monetary properties.
Why Bitcoin chose security over programmability
This was a design choice made by Satoshi—Bitcoin’s scripting language is highly limited, only focused on security and immutability. The very thing that makes Bitcoin a marvellous internet of value and the most secure blockchain in existence restricts the creation of complex financial applications on the network.
Alternative Layer 1s opted for a different path explicitly built for programmability, allowing devs to spin up smart contracts, leading to a massive long tail of permissionless applications and products. Bitcoin has monetary policy certainty, but not much else.
Our new EVM-compatible L2 will rapidly accelerate transaction speed, hence our famous moniker ‘Solana on Bitcoin.’ Will enable anyone to issue assets thanks to our new token standard (PEP-20), and the native DEX will be optimized for the true degen trading experience.
We have already seen the beginning of utility through off-chain solutions with the Lightning Network, which enables low-cost payments. But who wants to spend their BTC?
The obvious answer to us was to build on top of these robust security guarantees and unlock new economic zones.
Bitcoin Pepe is bringing Bitcoin into the present and leading it into the future
Our L2 will execute transactions off-chain, returning summary data to Bitcoin, where it will ultimately settle.
We get all the security benefits while enjoying EVM compatibility and unlocking the vast pools of human (and, increasingly, AI) capital that are spinning up code to create incredible protocols.
Lending, stablecoins, asset issuance, NFTs, and more are coming to Bitcoin via Bitcoin Pepe, while all grounded by Bitcoin’s best-in-class security.
This is particularly important when viewing current market dynamics: retail wants to trade, and institutions want to tokenize. Not to mention the Bitcoin security spend problem, where the only way out is growth: Why Build on Bitcoin.
Thanks to Bitcoin Pepe, Bitcoin will be able to meaningfully compete with the cohort of alternative L1s in scalability, composability, applications, and all of this without sacrificing security.
Bitcoin is the hardest money ever invented, and it only makes sense that it should become a core asset in DeFi. With Bitcoin Pepe, there will be no wrapped assets, and soon, users will be able to borrow against BTC without counterparty risk, issue stablecoins backed by BTC, and tokenize assets on top of Bitcoin’s base security.
Welcome to the future
The next wave of DeFi growth will be fueled by BTC’s outstanding capital reserves and security. Bitcoin Pepe is planting the flag early as the world’s first meme-focused Bitcoin L2, but just because we focus on memes, people should not miss the forest for the trees.
The basic rails required to trade memes at light speed are the same rails upon which DeFi can be built.
BPEP: Make Bitcoin DeFi Great Again.
