$PTB (Portal To Bitcoin), trying to make BTC go native in DeFi

Bitcoin makes up more than half of total crypto market cap, but its footprint in DeFi remains limited. Most BTC that enters Web3 does so through wrapped versions like WBTC, which still holds about $6B TVL. While liquid, it depends on custodians, leaving points of failure that traders and institutions can’t fully ignore.

This is where Portal To Bitcoin (PTB) enters the picture. The project, formerly Portal DeFi, is built around atomic swaps and a system called BitScaler that enables BTC to move cross-chain without wrappers or bridges. That design could allow BTC to interact with other blockchains in a trust-minimized way, something the market hasn’t yet seen at scale.

The token itself launched on Ethereum and listed on Bitget and other exchanges. They’re also running a Launchpool with over 22M PTB rewards, which could drive short-term liquidity. if this actually works, it could let BTC interact with DeFi in a native way, which has always been a missing piece in the space.

Now, it’s still very early, and like most moonshot projects the execution risk is high. But with BTC dominance sitting above 55% and a growing appetite for BitcoinFi narratives, I can see why something like this might gain traction.

Could it be one of the few BTCFi projects that sticks around? or It’s just another short-term narrative pump,