Cardano Founder Launches Bitcoin DeFi Protocol Cardinal on Cardano
According to a report by Jinse Finance, Charles Hoskinson, the founder of Cardano, has launched the first Bitcoin DeFi protocol Cardinal on Cardano. This protocol achieves non-custodial cross-chain functionality through MuSig2 multi-signature technology, allowing users to directly use Bitcoin UTXO to participate in lending and staking operations on the Cardano chain, 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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