01
BTC stays on Bitcoin
Deposits are backed by Bitcoin L1 contracts. No wrapped BTC. No bridge. No foreign-chain custody.
00.Credit layer for Bitcoin
Earn yield on idle Bitcoin.
Yield gives your Bitcoin a credit account. Deposit BTC into Bitcoin L1 contracts and earn BTC-denominated yield from real demand for Bitcoin liquidity.
User yield
Paid in BTC
Wrapped BTC
0
Ethereum dependency
0
Custody model
Bitcoin L1 contracts
01.The problem
0
Wrapped BTC required.
Yield keeps BTC on Bitcoin.
Bitcoin has savings infrastructure, but no credit layer.
Bitcoin is one of the world's largest financial assets, but most BTC still sits idle. Holders who want yield face two bad choices: hand BTC to a centralized lender, or wrap it into another ecosystem.
BlockFi and Celsius proved demand for BTC yield. They failed because users gave up control and could not see where their Bitcoin went. Yield keeps the demand and removes the hidden custody problem. BTC stays on Bitcoin, and yield comes from explicit credit demand.
$1.9T+
Bitcoin market cap
Millions
Long-term holders
$30B+
Peak CeFi lending demand
0
Wrapped BTC required
02.How it works
Your Bitcoin gets a credit account.
Three steps. BTC stays on Bitcoin. Yield coordinates the credit state.
Ledger · Bitcoin MainnetBlock 874,201
State Trace
Bitcoin wallet
Bitcoin L1 contract
No wrapped BTC
03.The primitive
A credit account for Bitcoin.
Your wallet signs. Bitcoin holds the asset. Yield tracks the credit state.
01
Bitcoin L1 contract
The BTC stays on Bitcoin. The contract defines the allowed settlement and recovery paths.
Custody and settlement anchor.
02
Yield credit coordinator
The coordinator tracks accounts, allocations, interest, collateral health, proof state, and settlement events.
Off-chain credit state in v1.
03
BTC yield modules
Lending is live first. Covered calls, vaults, and trading-liquidity yield expand the account over time.
One account, multiple BTC yield sources.
04.Yield sources
Yield comes from demand
for BTC liquidity.
| Module | APY | Yield source | User earns | Utilization | Status | |
|---|---|---|---|---|---|---|
| BTC Lending | 3.80% | Borrower interest | BTC | 75% | V1 | → |
| Covered Calls & Vaults | Preview | Option premium | BTC | 0% | Next | → |
| Trading Liquidity | Preview | Fees + funding | BTC | 0% | Future | → |
05.BTC earnings calculator
Project BTC-denominated yield.
Illustrative. BTC @ $120,000
Variable yield from BTC liquidity demand.
Variable yield from BTC liquidity demand.
min 0.01 BTC · max 100 BTC
₿≈ $120,000
Yield module
Annual BTC earned · BTC Lending
+₿ 0.0380
≈ +$4,560
Principal + BTC yield
₿ 1.0380
$124,560
Monthly sats earned
316,667 sats
₿ 0.00316667
Yield source
Borrower interest
Estimated APY
3.80%
Rates shown are illustrative. Yield is not guaranteed. When BTC liquidity demand is low, idle BTC remains unallocated rather than being routed into opaque risk.
06.Proof
Trust, made visible.
Yield shows what backs each Bitcoin credit account: custody, allocation, proof state, and recovery path.
02
No unilateral control
No single operator can move user BTC by policy or by private key. Settlement paths are constrained by the Bitcoin contract design.
03
Credit account visibility
Users can see their BTC position, allocation, yield, activity, and recovery state from one account surface.
04
Emergency recovery
Recovery paths are visible from the account so users can understand how principal can be recovered if the coordinator goes offline.
07.Roadmap
Lending first. Bitcoin financial products next.
Yield becomes the credit layer other Bitcoin financial products can build on.
Phase 1
BTC Lending Market
BTC holders supply liquidity. Borrowers post approved collateral, borrow BTC, and repay BTC plus interest.
Phase 2
Covered Calls & Vaults
Defined BTC yield strategies using the same credit account primitive.
Phase 3
Trading Liquidity
BTC credit accounts can provide inventory for trading-liquidity strategies. Users can earn from fees, funding, and liquidity demand.
08.Backed by
Backed by defy.
defy
Lead
09.Team
Small team. Bitcoin-first roadmap.
Founder-led.
Niko Hosn
Founder
Building the credit layer for Bitcoin.
10.FAQ
What Bitcoin holders ask first.
The primitive is simple: Bitcoin L1 holds the asset, Yield coordinates the credit state.
Enter demoYield is the credit layer for Bitcoin. It gives Bitcoin holders a credit account so idle BTC can earn BTC-denominated yield from lending first, then covered calls, vaults, and trading-liquidity products.
A Bitcoin credit account is Yield's account layer around BTC locked in Bitcoin L1 contracts. It tracks your BTC position, allocation, yield earned, settlement state, and recovery path. Your Bitcoin wallet signs transactions. Yield coordinates the credit state.
Your BTC stays on Bitcoin. In v1, deposits are backed by Bitcoin L1 contracts. Yield does not wrap the BTC, bridge it to Ethereum, or hold it in a normal custodian account. The app shows the contract backing and recovery state in the Proof page.
Your BTC stays on Bitcoin in a Bitcoin L1 contract. Settlement and recovery paths are constrained by the contract design, so no single custodian or operator can move user BTC on its own.
Yield comes from demand for BTC liquidity. In the first product, borrowers post approved collateral, borrow BTC, and repay BTC plus interest. BTC holders earn that interest. Later modules can add covered-call premiums, vault strategies, trading fees, funding, and liquidity revenue.
Borrowers are not necessarily looking for long BTC exposure. They may need temporary BTC inventory for shorting, hedging, market making, settlement, arbitrage, or trading strategies. Buying spot changes their directional book. Borrowing BTC gives them temporary inventory.
Borrowers post approved liquid collateral such as USDC or institutional cash-equivalent collateral. Collateral is monitored against each BTC borrow so lenders can see the credit state behind their yield.
No. Yield is not an Ethereum product and does not require wrapped BTC. Your BTC stays on Bitcoin, and Yield coordinates the credit account above Bitcoin.
DLCs are one Bitcoin-native contract primitive for bounded outcomes like repayment, default, and options settlement. Yield can use Bitcoin-native contract primitives where they help anchor custody, settlement, and recovery paths for a Bitcoin credit account.
No. Yield comes from market demand. If demand for BTC liquidity is high, BTC can earn more. If demand is low, BTC remains idle rather than being routed into opaque risk.
11.BTC credit account waitlist
Know when Bitcoin credit accounts open.
Yield is in demo mode. Leave your email for updates on BTC lending, covered calls, vaults, and trading-liquidity modules.
Demo
Live now
V1
BTC lending
BTC
User earns