The Bitcoin MENA 2024 conference, held in Abu Dhabi on December 9, brought together key innovators and thought leaders in the blockchain space to explore the future of decentralized finance (DeFi) and the evolving landscape of blockchain security. Among the notable speakers was Adam Bendjemil, Head of Ecosystem Growth at Core DAO, who shared valuable insights into how Bitcoin-anchored DeFi—often referred to as BTCFi—is shaping the next phase of financial innovation.
In an exclusive interview with Cointelegraph, Bendjemil emphasized the importance of marrying cutting-edge DeFi applications with the unmatched security of the Bitcoin network. As a Layer 1 (L1) blockchain, Core DAO leverages Bitcoin’s proven security model while integrating Ethereum Virtual Machine (EVM) compatibility—creating a hybrid infrastructure that supports scalable, secure, and accessible decentralized applications.
This strategic fusion positions Core DAO as a pivotal player in advancing DeFi on Bitcoin, offering developers and users a robust environment where innovation doesn’t come at the cost of trust.
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What Is BTCFi and Why It Matters
BTCFi refers to the integration of Bitcoin’s native assets and security into decentralized financial protocols. Unlike traditional DeFi ecosystems built on networks like Ethereum or BNB Chain, BTCFi aims to unlock the full potential of Bitcoin—not just as digital gold, but as a foundational layer for financial services.
Adam Bendjemil highlighted that Core DAO differentiates itself by building on a “battle-tested” foundation. While some view forking existing codebases as unoriginal, Bendjemil argues it's a smart risk-mitigation strategy:
“Where we feel comfortable is bringing users to a protocol that forked something very successful, something battle-tested, that has audited its own protocol multiple times with code known by security firms… then we add the Bitcoin twist.”
By forking established, secure codebases and layering them with Bitcoin’s security via merge-mining or other consensus mechanisms, Core DAO ensures reliability while enabling innovation. This approach lowers the risk of vulnerabilities—a critical factor given the billions lost annually to exploits in the DeFi space.
Security First, Innovation Second
One of Core DAO’s core principles is “security first.” In an industry where new protocols launch daily—often with little audit oversight—Bendjemil stresses that long-term adoption hinges on trust.
“Adoption goes with security first,” he stated. “Owning BTC is a winning strategy—not just as an investment, but as a foundation for secure systems.”
To enforce this principle, Core DAO employs widely trusted tools like Solidity for smart contract development and conducts regular third-party audits. These measures help minimize risks such as reentrancy attacks, logic flaws, and oracle manipulation—common attack vectors in DeFi platforms.
Moreover, by anchoring its consensus mechanism to Bitcoin’s hashpower through merge-mining, Core DAO inherits Bitcoin’s resilience against 51% attacks and network instability. This makes it one of the few EVM-compatible chains with native Bitcoin-level security.
This dual focus—on both technological advancement and foundational safety—enables Core DAO to serve as a bridge between legacy crypto values and next-generation use cases.
The Role of EVM Compatibility
Despite its emphasis on security, Core DAO does not sacrifice developer experience. Its EVM compatibility allows developers from Ethereum, Polygon, and other EVM-based ecosystems to deploy dApps with minimal modifications.
This interoperability accelerates adoption by reducing friction for teams looking to build on a more secure base without learning new tooling or rewriting entire codebases.
As Bendjemil put it: “Core is boring—but boring is good.” In the volatile world of blockchain, predictability and stability are assets. By avoiding experimental consensus models or unproven cryptographic techniques, Core DAO prioritizes sustainability over hype.
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Can Bitcoin Hit $110,000 by January 2025?
While Core DAO focuses on infrastructure, broader market sentiment also plays a crucial role in driving DeFi adoption. One topic gaining traction among analysts is whether Bitcoin can reach $110,000 by early 2025.
Raoul Pal, founder and CEO of Global Macro Investor (GMI), suggests this price point may be just a “local peak” during Bitcoin’s current bull cycle. According to the GMI Total Liquidity Index, BTC could surge toward $110,000 by January 2025 before correcting below $70,000 in February.
However, Pal views this not as a collapse, but as a temporary dip in liquidity—a “stepping stone” before another upward leg in Q3 2025.
“There have been many imitations of our chart,” Pal noted, clarifying the original data interpretation. “The real signal shows a parabolic phase entering now, with multiple peaks ahead.”
Such projections underscore the growing institutional interest in Bitcoin and its expanding role beyond speculation—into collateral for loans, yield generation, and cross-chain asset bridging within DeFi protocols like those on Core DAO.
Frequently Asked Questions (FAQ)
Q: What is Core DAO?
A: Core DAO is a Layer 1 blockchain that combines Bitcoin’s security with EVM compatibility, enabling secure and scalable decentralized applications.
Q: How does Core DAO enhance DeFi security?
A: It uses battle-tested codebases, regular audits, Solidity-based smart contracts, and merge-mining with Bitcoin to inherit its network security.
Q: What is BTCFi?
A: BTCFi (Bitcoin-based DeFi) refers to financial applications that leverage Bitcoin’s assets and security model to offer lending, borrowing, staking, and trading services.
Q: Is forking a blockchain unsafe?
A: Not necessarily. Forking well-audited, widely-used protocols can reduce risks if done responsibly and paired with rigorous security practices—exactly Core DAO’s approach.
Q: Why is EVM compatibility important?
A: It allows developers from Ethereum and other EVM chains to easily port their dApps, speeding up ecosystem growth and user adoption.
Q: Can Bitcoin really reach $110K by 2025?
A: While no prediction is guaranteed, analysts like Raoul Pal point to liquidity trends suggesting a possible short-term peak near $110K in early 2025, followed by continued long-term growth.
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Final Thoughts
The discussions at Bitcoin MENA 2024 reflect a maturing crypto ecosystem—one where innovation is no longer measured solely by novelty, but by durability, security, and real-world utility. Core DAO exemplifies this shift, offering a platform where DeFi can grow sustainably without compromising on safety.
As Bitcoin continues to gain momentum—both as a store of value and as infrastructure for financial innovation—projects like Core DAO play an essential role in expanding its reach. By combining the best of both worlds—Bitcoin’s ironclad security and Ethereum’s developer-friendly environment—they pave the way for broader institutional and retail adoption.
In a space often driven by speculation, being “boring” might just be the most revolutionary trait of all.
Keywords: Core DAO, DeFi on Bitcoin, BTCFi, blockchain security, EVM compatibility, Bitcoin 2025 price prediction, decentralized finance, Layer 1 blockchain