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![Lexibtceth Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1197896690251862016.png) Lexi Bitcoin 🐱 [@Lexibtceth](/creator/twitter/Lexibtceth) on x 81.5K followers
Created: 2025-07-21 13:50:21 UTC

Most people think DeFi is already decentralized. It's not.

80%+ of "Bitcoin DeFi" runs on wrapped BTC. That means your BTC is just an IOU controlled by a custodian.

The problem is trust. Bridges get hacked. Custodians disappear. And you're left with a token that's not Bitcoin.

Real DeFi should be Bitcoin-native. No wrappers. No bridges. No middlemen.

That’s why I’m watching Portal.

They’re building a Layer X that uses atomic swaps instead of wrapped tokens. You keep full custody. Trades are peer-to-peer. Everything settles across chains with no centralized party in the middle.

Think about what that unlocks:

Bitcoin-backed stablecoins
Bitcoin lending without trust
Cross-chain trades from your own wallet
A DEX where you don’t need to give up your keys or wrap your BTC

This is what DeFi was supposed to be. Not marketing. Just math.

Portal isn’t the only one working on it but they’re going deeper than most.
And the best part: it's all actually secured by Bitcoin.

![](https://pbs.twimg.com/media/GwYsp_qXkAAM73t.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947293069864284449/c:line.svg)

**Related Topics**
[token](/topic/token)
[wrapped btc](/topic/wrapped-btc)
[decentralized](/topic/decentralized)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/Lexibtceth/status/1947293069864284449)