Bitway (BTW) Project Interpretation: How is the potential of Bitcoin's financialization new infrastructure?

Bitway recently launched its Booster program. Users who have 165 Binance Alpha points after December 22 are eligible to participate and have a chance to share a total of 300 million BTW Tokens in the Airdrop.

This project, incubated and supported by the former Binance Labs (now YZi Labs), is building a Bitcoin-native Layer 1 lending and financial platform that aims to address the liquidity dilemma of Bitcoin as a “sleeping asset.”

01 Project Launch: A New Star Empowered by the Binance Ecosystem

Bitway did not appear out of thin air. Its founding story and core team background lay a certain foundation of credibility for the project. The project was established by a team with experience from Binance Labs, aiming to provide secure lending solutions for the trillion-dollar Bitcoin market.

More importantly, Bitway successfully joined Binance's YZi Labs' global premier incubation program EASY Residency in 2025 and received its strategic investment.

This endorsement is significant. YZi Labs manages over $10 billion in assets globally, with a portfolio that includes over 300 projects across more than 25 countries. Gaining their support means that Bitway has undergone scrutiny from top venture capitalists regarding its technical path and business model.

The team's background is equally impressive. Co-founder and CTO Dave Hrycyszyn is a senior technical expert in the crypto industry and was a co-founder of the Chainspace project, which was acquired by Facebook.

02 Core Vision: To be the “on-chain bank” of Bitcoin

Bitway's positioning is very clear: it is not just a lending protocol, but is committed to becoming a comprehensive “on-chain banking” infrastructure built around Bitcoin.

Its mission is to unleash the untapped potential of Bitcoin in global commerce, with the core approach allowing users to directly use native, unwrapped BTC as collateral for lending without the need for cross-chain bridges or custodians.

This targets a huge market pain point. Currently, the vast majority of DeFi lending protocols require users to wrap Bitcoin into cross-chain versions such as wBTC and tBTC, which introduces additional trust and operational risks. Bitway, on the other hand, attempts to achieve non-custodial collateral on the Bitcoin layer network through innovative cryptographic solutions.

03 Technical Architecture and Product Matrix

Bitway's technical solution revolves around how to securely hold Bitcoin off-chain while triggering financial contracts on another chain. Its product matrix also reflects a layout from point to surface.

• Core Technology: The project utilizes Threshold Signatures (Threshold Signatures) and DLCs to manage Bitcoin collateral. In simple terms, BTC is locked in a multi-signature address that is jointly controlled by users and the protocol, while the lending contracts are executed on a high-performance, dedicated chain based on the Cosmos SDK — Bitway Chain.
• Flagship Product: The first product launched is Bitway Finance, a decentralized on-chain credit market and the world's first non-custodial lending protocol that supports native Bitcoin collateral.
• Payment Network: In addition to lending, Bitway has also launched the BTCT Token, aimed at building a gas-free payment settlement network that is compatible with Bitcoin's native addresses, to expand the small-scale high-frequency payment scenarios of Bitcoin.

04 Token economy and current progress

Currently, Bitway's native Token BTW has not been publicly issued and is in the pre-TGE phase. On December 22, 2025, Binance Wallet launched the Booster Program for BTW, which can be seen as an important pre-heating and initial distribution of the Token aimed at the community.

The plan will provide a total of 300 million BTW in airdrop rewards in phases, with the first phase allocating 50 million coins. The participation threshold is set at 165 Binance Alpha points.

A crucial detail is: the BTW Tokens obtained through the Booster program are subject to a lock-up period, with specific terms set by the project team. This indicates that the project team intends to encourage long-term ecological development rather than short-term arbitrage.

According to public information, Bitway has raised approximately 1.5 million USD in funding.

05 Market Opportunities and Potential Challenges

Looking at the end of 2025, the track that Bitway is entering is full of opportunities, but also comes with obvious challenges.

Its core opportunity lies in capturing the grand trend of “Bitcoin Financialization”. With the popularity of Bitcoin ETFs and the increase in institutional holdings, the market's demand for how to generate returns from its value without selling Bitcoin is growing.

If Bitway can safely and smoothly implement native BTC collateral lending, it will open a liquidity gateway for trillion-level stock assets.

However, the challenges are equally severe. Technical security is the primary risk. Any multi-signature or complex script scheme involving the management of a large number of Bitcoins is a target for hackers. Secondly, market acceptance is in doubt, as Bitcoin holders are known for their focus on security, persuading them to deposit BTC into an emerging protocol takes time and requires a high level of trust to be built.

Moreover, the competitive environment is intense, whether it is payment solutions like the Lightning Network or other Layer 2 projects aimed at Bitcoin DeFi, all competing for the same market.

Future Outlook

As of December 23, 2025, Bitway's BTW Token has not generated a real-time trading price on any public market (including Gate) due to its pre-issue and lock-up period.

Its value will first be tested by early core users in the Booster program of Binance Wallet. As Bitcoin consolidates around $88,000, looking for new narratives, infrastructure projects like Bitway, which are dedicated to activating Bitcoin's native financial potential, are attracting more and more eyes seeking alpha.