Botanix Winds Down After Nearly Four Years as Bitcoin DeFi TVL Reaches $4.12 Billion

Botanix is winding down after nearly four years of development, following about 25 million transactions, with the team citing demand-related reasons rather than a hack or a regulatory shock. According to NS3.AI, DeFiLlama data shows Bitcoin DeFi protocols collectively hold $4.12 billion in total value locked. Speakers attributed Botanix’s challenges to user preferences, saying many participants continue to favor wrapped BTC on established EVM-based venues that offer deeper liquidity and wider integrations.