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In 2028, any Bitcoin holder in the world will be able to borrow USDC against real BTC, in minutes, without giving up custody - from their phone. That is the Writz vision. No custodian. No bridge. No wrapped BTC. A transaction that starts with Bitcoin in your wallet and ends with USDC in your account, enforced entirely by math.

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Why This Vision Is Worth Building

Bitcoin is the world’s largest crypto asset by market cap. Over 900 million people own it. The vast majority of them - 77% by most estimates - have never used it in DeFi. Not because they don’t want to. Because every option today requires one of two concessions: give your BTC to a custodian or signer set (WBTC, tBTC), or bridge it onto another chain as a wrapped token. Writz removes both. The BTC stays on Bitcoin - secured by Bitcoin Script, accessible only by the user. The loan happens on Stellar - where native USDC lives - and the deposit is verified there by an on-chain Bitcoin light client, not by a bridge or an oracle. If Writz disappears, a timelock in the Bitcoin script lets the user take the BTC back alone. This is not an incremental improvement on existing BTCfi. It is a different category.

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The Two-Layer Moat

Writz’s competitive position is not built on branding or funding. It is built on compounding technical depth.

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Layer 1 - Time

Building a Bitcoin SPV client on Soroban from scratch and getting it audited takes 12–18 months. A well-funded team starting today arrives in late 2027 - by which time Writz will have:
  • Over a year of mainnet operation with no security incidents
  • Real TVL, organic user growth, and verifiable on-chain metrics
  • An open-source SPV SDK integrated into the Stellar ecosystem
The first-mover in a technical niche this specific tends to hold the position. The cost of switching from an established, audited protocol to an unproven one is too high for rational users.

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Layer 2 - Ecosystem Lock-in

The Writz Bitcoin SPV SDK is free infrastructure for the Stellar ecosystem. Every Stellar wallet that integrates it, every protocol that builds on it, every developer who ships a product using it: these are switching costs that accumulate invisibly. By the time there are 5 integrations, Writz is load-bearing infrastructure for Stellar’s Bitcoin-awareness. By 10 integrations, Writz is the canonical answer to “how does Bitcoin work on Stellar?” Replacing it requires not just building a better contract - it requires convincing every integration partner to migrate simultaneously.

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Writz in 2028 - The Full Picture

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$100M+ TVL in Writz Lend

Bitcoin holders trust Writz because:
  • The smart contracts have passed external audits
  • Over a year of mainnet operation with zero critical incidents
  • TVL grew progressively from $50K → $250K → $1M → $5M → $20M → $100M
The protocol generates real revenue: at $100M TVL and a 5% average borrow rate, with a 15% protocol fee, annual revenue is approximately $750,000 - enough to fund ongoing development, audits, and the insurance fund.

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The WRTZ Token - Real Yield, No Speculation

The WRTZ token launches at $5M TVL (Q2–Q3 2027), with a community-first structure:
  • Fair IDO / Liquidity Bootstrapping Pool - no VC cliff dumps at steep discounts
  • Real-yield mechanics: protocol revenue is used to buy and burn WRTZ from the open market
  • Governance: WRTZ holders vote on TVL cap increases, fee adjustments, new product launches, and insurance fund payouts
This is not a token launched to raise money. It is a token launched to give ownership to the community that built the TVL.

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Stellar Ecosystem Infrastructure

The Writz Bitcoin SPV SDK is integrated into:
  • Xverse (BTC wallet with a “Writz” button in the DeFi section)
  • Freighter (Stellar wallet with BTC collateral option)
  • Lobstr (BTC yield product in the savings section)
  • 7+ Stellar DeFi protocols using the SDK for Bitcoin verification
Writz has proposed and is co-authoring a Stellar SEP (Standards Evolution Proposal) for Bitcoin SPV on Stellar - establishing the verification interface as a standard across the ecosystem.

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Institutional Presence

Writz has 5+ institutional deposits of $100K+ each - crypto funds, family offices, and mining companies using the protocol for treasury management. Institutions that need confidential positions are the audience of the separate, opt-in privacy edition, still in progress, which is not part of the Writz protocol.

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Planned for later

Writz has one product: Writz Lend. The SPV SDK is the open infrastructure behind it. The features below are directions we want to explore after Writz Lend is live on mainnet. They are not products. None has a date, and none is promised.
  • Privacy. A separate, opt-in edition where a borrower proves they hold enough collateral without showing the amount. The design and testnet contracts exist. See Privacy edition.
  • ZK proof of reserve. A way for a company to prove it holds Bitcoin without revealing its addresses or the exact amount. No circuit exists.
  • Private conversion. Turning Bitcoin into USDC directly, without Writz ever holding the Bitcoin. Nothing is built, and no design meets that condition yet.
  • Automatic yield. Putting borrowed USDC to work without adding risk the borrower did not choose. Nothing is built.

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The Bigger Picture

Writz is not just a product. It is the protocol that connects the world’s largest crypto asset to the world’s most compliance-friendly blockchain. Bitcoin is the foundation. Stellar is the network. The house is where the financial future lives. What starts as a lending protocol becomes infrastructure. The SPV SDK becomes the standard. The USDC loans become a gateway for BTC holders who have never touched DeFi. That is the 2028 vision. The first step is a single Bitcoin transaction, verified by a Soroban contract, followed by the first USDC loan issued against real BTC collateral on mainnet. That step is months away.