In the past few days, BOB's BitVM bridge testnet has been launched, and although there is not much discussion in the circle, I personally think that this is a very critical step in the Bitcoin ecosystem, and it may even determine whether BTC DeFi can be truly implemented. In the background, BOB is a BTC + ETH hybrid chain, that is, it inherits the security of Bitcoin and the composability of a complete set of infrastructure in the Ethereum ecosystem. To put it bluntly, the core purpose of BOB is to truly allow native BTC to participate in the on-chain financial logic, and it is not through the packaging of assets, no custody, and no multi-signature. Compared with the previous BTC DeFi solution, you have to go around a little, such as locking up BTC and then sending an anchor coin to play. The biggest problem with this structure is trust. BOB uses BitVM to make the entire execution process fraud-proof, as long as it is verified, it does not need to be trusted. To put it more bluntly, BTC on BOB is like ETH on Arbitrum – it's all real assets. My own focus is on three optimizations in architecture: 1️⃣ Divide Operators into two categories, one is responsible for calculations and the other is responsible for withdrawals. This division of labor mechanism is actually very similar to the PoS model, adapting to the way the organization does things. 2️⃣ The introduction of ETH blobs to store data without stuffing the Bitcoin block space greatly reduces the cost of execution and improves the ability to resist censorship. 3️⃣Support the reuse of BTC collateral, which means that the BTC pledged by one node can run multiple BitVM instances, which is very helpful for scalability. What we can do now is to understand the logic of BitVM, follow the progress of the testnet, and look forward to the launch of the Q4 mainnet. If it works, then the liquidity of BTC will be qualitatively changed.