The founder of Cardano launched the Bitcoin DeFi protocol Cardinal on Cardano.

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Golden Finance reports that Cardano founder Charles Hoskinson has launched the first Bitcoin DeFi protocol Cardinal on Cardano. This protocol achieves non-custodial cross-chain through MuSig2 multi-signature technology, allowing users to directly use Bitcoin UTXO to participate in on-chain lending and staking operations on Cardano, while also being compatible with Ordinals inscriptions as collateral. The technical solution includes the BitVMX off-chain verification system and supports interaction with public chains such as Ethereum and Solana.

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