TLDR:<p>The sBTC whitepaper proposes Stacks[1] and sBTC[2] as a layer-two mechanism for unlocking defi on top of the Bitcoin blockchain (DEXs, NFTs, and other dapps, etc.).<p>I've started deconstructing and analyzing it in relation to what it means for both Bitcoin and Stacks.<p>[1] <a href="https://stacks.co/" rel="nofollow">https://stacks.co/</a><p>[2] <a href="https://assets.stacks.co/sbtc.pdf" rel="nofollow">https://assets.stacks.co/sbtc.pdf</a>