Wrapless: The trustless lending protocol on top of Bitcoin
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arXiv
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| Main Authors: | , , , , , , , , , , , , , |
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| Format: | Preprint |
| Published: |
2025
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| Subjects: | |
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| _version_ | 1866908481261404160 |
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| author | Kurbatov, Oleksandr Baibula, Kyrylo Chopa, Yaroslava Kozlov, Sergey Komendant, Oleh Dovhopolyi, Illia Kurbatov, Dmitrii Naumets, Zakhar Aritkulova, Yuliia Kravchenko, Pavel Dubinin, Volodymyr Antadze, Lasha Panasenko, Yaroslav Velykodnyi, Mykhailo |
| author_facet | Kurbatov, Oleksandr Baibula, Kyrylo Chopa, Yaroslava Kozlov, Sergey Komendant, Oleh Dovhopolyi, Illia Kurbatov, Dmitrii Naumets, Zakhar Aritkulova, Yuliia Kravchenko, Pavel Dubinin, Volodymyr Antadze, Lasha Panasenko, Yaroslav Velykodnyi, Mykhailo |
| contents | This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be locked as collateral for loans issued on any blockchain that supports Turing-complete smart contracts. The protocol is designed in a way that makes it economically irrational for each involved party to manipulate the loan rules. There is still a significant research area to bring the protocol closer to traditional AMM financial instruments. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2507_06064 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Wrapless: The trustless lending protocol on top of Bitcoin Kurbatov, Oleksandr Baibula, Kyrylo Chopa, Yaroslava Kozlov, Sergey Komendant, Oleh Dovhopolyi, Illia Kurbatov, Dmitrii Naumets, Zakhar Aritkulova, Yuliia Kravchenko, Pavel Dubinin, Volodymyr Antadze, Lasha Panasenko, Yaroslav Velykodnyi, Mykhailo Cryptography and Security This paper presents Wrapless -- a lending protocol that enables the collateralization of bitcoins without requiring a trusted wrapping mechanism. The protocol facilitates a "loan channel" on the Bitcoin blockchain, allowing bitcoins to be locked as collateral for loans issued on any blockchain that supports Turing-complete smart contracts. The protocol is designed in a way that makes it economically irrational for each involved party to manipulate the loan rules. There is still a significant research area to bring the protocol closer to traditional AMM financial instruments. |
| title | Wrapless: The trustless lending protocol on top of Bitcoin |
| topic | Cryptography and Security |
| url | https://arxiv.org/abs/2507.06064 |