Granite Protocol Brings Lending Market to Borrow on Bitcoin
Granite Protocol has added its lending market to Borrow on Bitcoin, allowing users to deposit sBTC collateral and borrow USDCx. This integration is part of Stacks' efforts to create more DeFi products for Bitcoin holders.
The variable borrow rate is 1.66% APR, with features including isolated pools, soft liquidations, and no rehypothecation of user collateral. However, the product is not available in the US.
Experts say this listing is a step forward for Bitcoin DeFi, but it's not a sign that mainstream adoption has arrived. Instead, it shows that infrastructure is being built to support users in making informed decisions about borrowing options and risk models.