OP NET, a company that focuses on decentralized finance (DeFi), has launched the SlowFi DeFi stack on Bitcoin. The platform runs smart contracts directly in standard Bitcoin transactions without using bridges or wrapped BTC, which are common practices in DeFi.
The launch aims to bring DeFi activity directly onto Bitcoin's base layer instead of routing it through sidechains or adjacent networks. This move is part of OP NET's broader push to support miner revenue as block subsidies decline.
According to Frederic Fosco, co-founder of OP NET, the platform uses Taproot-based spends and NativeSwap model to support token swaps without wrapped BTC or a separate gas asset. Every transaction on OP NET is 'just a Bitcoin transaction with BTC as the only gas asset,' he said.