1/16/2023 0 Comments Atom finance![]() ![]() A contractual promise with none of Bitcoin's original assurances. Many existing Bitcoin financial solutions require you to convert your Bitcoin to a Bitcoin IOU, a contractual promise that they can return your Bitcoin in the future granted that things go according to plan. The reality is, nearly all financial tools and infrastructure for Bitcoin today do not share the same assurances as Bitcoin. We hoped to enable even greater Bitcoin adoption and accelerate Bitcoin's transition to being a world reserve asset. In building this sound financial infrastructure, we hoped to advance the Bitcoin ecosystem as a whole. Infrastructure that would allow Bitcoin holders to be their own banks. Infrastructure that shares as much of the same assurances (being verifiable, pseudo-anonymous, borderless, censorship- and seizure-resistant, and of course, maintains Bitcoin's sacred 21M supply cap). Infrastructure that will stand the test of time, and be around for as long as Bitcoin is around. We started Atomic because of a simple belief that sound money deserves sound financial infrastructure. Why did we start Atomic in the first place? For Atomic Loans, the decision this August was whether we were going to continue building on Ethereum, or focus solely on Bitcoin.īut how did we get to this point? What prompted us to ask these tough questions? And of course, why did we make the decision that we did? Going back to first principles. For Slack, their 2012 decision of whether or not to pivot to a chat app for co-workers from creating a browser multiplayer game. For Apple, it was their 2010 decision of whether or not to continue supporting Flash. In every company's history, there comes a time when they hit an important cross-roads. We've decided to keep this post up as it communicates the story how we pivoted from ETH DeFi. Our first product under this direction was Atomic Odds (as described below), before shifting to the Bitcoin yield product we're currently building. Update: This post was published in the fall of 2020 when we first decided to make our pivot from ETH DeFi to Bitcoin-native finance. ![]()
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