OP_NET Launches Smart Contracts and Native DeFi on Bitcoin Mainnet

Bitcoin’s native layer has historically lacked full smart-contract functionality. Holders seeking to lend, trade or pursue yield strategies have typically had to wrap BTC and bridge it to networks such as Ethereum, exposing themselves to custody, bridge and counterparty risks. OP_NET anchors contract execution and state to Bitcoin Layer 1 and uses BTC for fees, making it a significant attempt to expand Bitcoin’s utility and generate additional fee revenue for miners.

OP_NET launched its mainnet on March 19, 2026, supporting OP-20 token issuance, trading through MotoSwap and two-stage swaps through NativeSwap, without requiring cross-chain bridges, wrapped BTC or an additional gas token. Standard swaps cost about $1–$2, rising to about $10–$20 during congestion. Its “SlowFi” model uses Bitcoin’s roughly 10-minute block times and the friction involved in exiting positions in an effort to keep liquidity in place longer.