{"ID":2897107,"CreatedAt":"2026-06-01T04:54:23.091178241Z","UpdatedAt":"2026-06-01T04:54:23.091178241Z","DeletedAt":null,"paper_url":"https://arxiv.org/abs/2507.06064","arxiv_id":"2507.06064","title":"Wrapless: The trustless lending protocol on top of Bitcoin","abstract":"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.","short_abstract":"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-comp...","url_abs":"https://arxiv.org/abs/2507.06064","url_pdf":"https://arxiv.org/pdf/2507.06064v3","authors":"[\"Oleksandr Kurbatov\",\"Kyrylo Baibula\",\"Yaroslava Chopa\",\"Sergey Kozlov\",\"Oleh Komendant\",\"Illia Dovhopolyi\",\"Dmitrii Kurbatov\",\"Zakhar Naumets\",\"Yuliia Aritkulova\",\"Pavel Kravchenko\",\"Volodymyr Dubinin\",\"Lasha Antadze\",\"Yaroslav Panasenko\",\"Mykhailo Velykodnyi\"]","published":"2025-07-08T15:08:30Z","proceeding":"cs.CR","tasks":"[\"cs.CR\"]","methods":"[]","has_code":false}