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TradeLayer Founder Statement on BIP-119

TradeLayer

Dec 30, 2021

New OP_Codes that enhance the feature set available to bitcoin holders that don’t change the core protocol are a good idea.

Jeremy’s work is a shining example of this and the potential use cases in combination with OP_Return-based account tokens are considerable:

secured lending of UTXO BTC collateral for stablecoin
blended DAO treasuries
doing Discrete Log Contracts with stablecoin

…and probably more that we haven’t thought of yet.

That he went through the trouble of building an open source Rust-based Domain Specific Language framework for others to tinker with shows a commitment to open source development, anyone can start hammering away at new apps. There’s a recombination range of possible composable features that OP_CTV would grow, and we are all for that, because we like Bitcoin so much.