OP_NET Launches on Mainnet, Bringing Native DeFi Stack to Bitcoin

OP_NET is a smart contract protocol that has launched on the mainnet, bringing with it a live DeFi stack. The protocol embeds execution directly into standard Bitcoin transactions and includes features such as a decentralized exchange, token issuance, and yield farming.

The launch marks a significant development in the growing Bitcoin DeFi space, where projects are exploring ways to put BTC to work without leaving the network via bridges or wrapped assets. OP_NET's approach is unique in that it operates as a deterministic execution layer that runs directly on Bitcoin, requiring no soft fork, hard fork, new opcodes, or separate chain.

According to Chad Master, co-founder of OP_NET, the protocol's design intent is to make every transaction look like a normal Bitcoin transaction. 'Users are never doing anything but making Bitcoin transactions,' Master said in an interview with The Defiant. This approach aims to reduce the complexity and friction associated with DeFi on faster chains.

The live ecosystem centers around MotoSwap, a decentralized exchange for swapping BTC and OP-20 tokens, alongside NativeSwap, a two-phase swap execution model that locks a quoted price for five blocks to reduce slippage risk. Permissionless smart contract deployment is also live from day one, with a MasterChef-style staking contract allowing liquidity providers to create yield farms for new assets.