Makers of Keep Protocol Raise $7.7M to Bring Trustless BTC to DeFi

"The silent majority of most bitcoin and ETH people aren't maximalists," Matt Luongo told CoinDesk in a phone call. Luongo is himself extremely long BTC, but he's not one of those bitcoin diehards who dismisses DeFi.

What's different about tBTC Bitcoin is already on Ethereum, most notably with wBTC, an ERC-20 token created by BitGo. There's very little reason to have bitcoin on Ethereum if there's nothing to do with it, though, so the product will only work well if DeFi applications adopt tBTC.

Timeline of Ethereum, Bitcoin