Ex-TRON leader Hunter Rogers has joined Bitcoin-native yield platform TeraHash, aiming to drive further adoption of Bitcoin in the decentralized finance ecosystem.
Summary
- TeraHash has added ex-TRON leader Hunter Rogers to its leadership team.
- Rogers joins as co-founder and will drive the next phase of growth of the Bitcoin DeFi protocol.
- TeraHash brings hashrate-backed BTC yield to DeFi.
TeraHash announced On Thursday, November 6, Rogers’ expertise, including in institutional partnerships, will be crucial to position the platform as the protocol for hashrate-backed Bitcoin (BTC) returns.
Why it matters
BTC native yield is a segment that aims to expand the Bitcoin DeFi market with an institutional-quality mining yield offering.
TeraHash offers this via tokenized hashrate, enabling liquid staking and allowing customers to earn up to 50% of annual BTC rewards.
It is a matter of how to unlock the annual mining revenue of over $20 billion for DeFi users.
In this case, Rogers, as co-founder, will lead TeraHash’s next phase of growth toward this goal.
It is expected that Rogers will tap his experience and network to drive ecosystem partnerships and institutional reach, among other things, to make TeraHash the institutional standard for Bitcoin mining returns.
The former TRONDAO leader joins the BTC-focused project ahead of the mainnet launch.
“Bitcoin’s next evolution lies in making its $20 billion in annual mining revenue accessible through a transparent, on-chain infrastructure. TeraHash builds that bridge, while converting physical hashrate into liquid, composable, and accessible revenue primitives for institutions and individuals alike,” said Rogers.
TeraHash looks at the momentum of Bitcoin DeFi
The global cryptocurrency market has seen a resurgence in the adoption of decentralized finance in recent months, with liquidity lending and borrowing seeing a revival.
Protocols in Ethereum, Solana and BNB Chain have recorded significant increases in total locked value.
Bitcoin DeFi is also gaining momentum, helped by growing institutional interest in BTCFi.
Layer 2 solutions such as Stacks, Rootstock, Merlin Chain and Babylon are major players in the growing ecosystem.
However, as TeraHash notes, its solution is the leading player in a “native, composable yield product” focused on Bitcoin mining.
With hash interest backed returns, users stake the THS token and receive daily Bitcoin rewards. But more than that, the protocol integrates with DeFi to connect users with cryptocurrency lenders, trading platforms, and revenue aggregators.
According to DeFiLlamathe total value captured in Bitcoin DeFi protocols currently exceeds $7.57 billion. Babylon, Lombard Finance and Threshold Network lead in the TVL race.
