#大户持仓动态 【⛓️ Bitcoin's Financial Layering Experiment: From Store of Value to Revenue Engine】

Here's a question: holding Bitcoin just sitting there, is that all?

Many people are caught in a dilemma—selling it means paying taxes and taking on risks, while hodling forever feels like liquidity is completely locked up. Only recently did they discover that there’s a protocol doing something interesting: breaking down Bitcoin, a single store of value tool, into three independent functional modules.

**Splitting Bitcoin into Three Things**

Imagine your Bitcoin is divided into three parallel worlds—

The bottom layer, Bitcoin itself remains untouched—no movement, no risk, serving as an absolute safety cushion. No liquidity traps, no smart contract risks, just pure ownership.

The middle layer is even more clever. Based on Bitcoin’s excess credit, the system can mint a stablecoin USDf pegged to the dollar. You retain Bitcoin’s long-term appreciation potential while gaining readily available liquidity—think of it as applying for a "credit limit" on your Bitcoin. This stablecoin can be used for trading, payments, hedging, and can be paid back without affecting the underlying asset.

The top layer is the yield layer. By staking USDf, you can convert it into interest-bearing tokens sUSDf. These tokens automatically generate cash flow through market arbitrage and strategic combinations. In other words, your Bitcoin is not only preserving value but also working for you.

**Where does governance come from?**

The entire architecture is controlled by the governance token $FF. Holders have three levels of power:
- Vote on parameters for each layer (e.g., collateralization ratios)
- Share in the profits generated by the entire system
- Get priority access to new applications developed on this framework

In simple terms, $FF is the "equity" of this Bitcoin financial system.

**Practical Significance**

This architecture essentially answers an old question: how to activate dormant assets? It’s not about forcing people to sell for DeFi participation, but providing large holders with an option—to gradually unlock their financial potential while retaining core assets.

More and more innovations like this are emerging in the market, exploring how, when the scale of crypto assets becomes large enough, a true financial ecosystem can form. Bitcoin itself has already entered the stage of institutional recognition; the next challenge is how to effectively utilize these locked-in values without changing ownership.

What do you think—if your Bitcoin could simultaneously maintain absolute security, instant liquidity, and ongoing yields, wouldn’t this "trinity" approach be more balanced than just hodling or going all-in on DeFi?