{"id":8277,"date":"2025-09-02T00:48:41","date_gmt":"2025-09-02T00:48:41","guid":{"rendered":"https:\/\/blockwind.news\/china\/?p=8277"},"modified":"2025-09-28T19:29:17","modified_gmt":"2025-09-28T19:29:17","slug":"chinese-traders-embrace-newly-launched-bitcoin-defi-platform","status":"publish","type":"post","link":"https:\/\/blockwind.news\/china\/2025\/09\/02\/chinese-traders-embrace-newly-launched-bitcoin-defi-platform\/","title":{"rendered":"Chinese Traders Embrace Newly Launched Bitcoin DeFi Platform"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">September 02, 2025<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By Joe Pan<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" width=\"420\" height=\"236\" src=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra.png\" alt=\"\" class=\"wp-image-8280\" style=\"width:726px;height:auto\" srcset=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra.png 420w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra-300x169.png 300w\" sizes=\"auto, (max-width: 420px) 100vw, 420px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><a><\/a>RadFi\u2019s launch in July 2025 is making waves among traders of Bitcoin-native assets, like rare sats, inscriptions, or runes. Co-founder Scott Smiley (<a href=\"https:\/\/x.com\/benny_options?t=GPz0GIpFX6Cv1YvLYQb5bg&amp;s=08\"><u>@benny_options<\/u><\/a>) shared what\u2019s driving the initial success of the Bitcoin Layer 1 DeFi platform, especially among Chinese traders at the BitcoinAsia Conference in Hong Kong.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The \u201cPlanned Luck\u201d Effect<\/strong><strong><\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt was somewhat of a surprise to me that there was so much interest from the Chinese community,\u201d Smiley confessed, having watched the RadFi social accounts \u201cflooded with messages in Chinese\u201d following its debut crash from overwhelming demand. He described the surprising popularity of RadFi within the Chinese community as a case of \u201cplanned luck\u201d, saying, \u201cYou place yourself at the right place and let luck or good things happen,\u201d echoing planned happenstance theory developed by John D. Krumboltz, which he learned during his Vanderbilt University days.<br><br>For those who missed the drama, RadFi\u2019s website went offline on launch day, besieged by eager traders searching for instant swaps and reliable liquidity \u2014 a rare treat on the notoriously clunky Bitcoin Layer 1.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new reality for Bitcoin token launches, Smiley explained, is a far cry from \u201cusers burning BTC, receive tokens with zero liquidity.\u201d Instead, \u201claunch capital goes to liquidity pools, instant refunds for failed mints\u20265+ BTC saved, 25+ tokens launched with actual tradability.\u201d In short: Everyone finally gets to play, trade, and cash out \u2014 no more gambling away coins with nothing to show but hefty miner fees and a sad emoji.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the real secret sauce? RadFi\u2019s technical breakthrough: \u201cFirst instant swaps on Bitcoin L1 without custody trade-offs. No 10-minute block waiting, no additional trust assumptions,\u201d Smiley said, channeling the pragmatic optimism of a Deutsche Bank alumnus who\u2019s grown up fast in decentralized finance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">What impressed Emma about RadFi was the user experience. \u201cUsing a 2-of-2 multisig wallet, transactions are confirmed with zero waiting at the mempool stage. The speed is comparable to Solana,\u201d said Emma (<a href=\"https:\/\/x.com\/emmaxx1699?t=X-a7J3dCnjA5tTmVlS2K2A&amp;s=09\"><u>@emmaxx1699<\/u><\/a>), a Chinese trader who has used the platform and praised how Scott, as a team leader, has handled platform issues openly and promptly.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" width=\"853\" height=\"1024\" src=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1-853x1024.png\" alt=\"\" class=\"wp-image-8281\" style=\"width:541px;height:auto\" srcset=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1-853x1024.png 853w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1-250x300.png 250w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1-768x923.png 768w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1-860x1033.png 860w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/Chinese-Tra1.png 1024w\" sizes=\"auto, (max-width: 853px) 100vw, 853px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The platform\u2019s growth and organic Chinese adoption is spotlighting the pain points of Bitcoin\u2019s on-chain activity. When Scott attended the Bitcoin Asia Conference in Hong Kong, he saw \u201cmassive amounts of interest\u201d and \u201cmet some enthusiastic users in person\u201d \u2014 a sign that the problem of illiquid launches and trade latency is one global traders are itching to solve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A scan of RadFi\u2019s discord community, one can see Chinese traders exchange messages on their RADs and Doogie, some of the popular Bitcoin-native tokens. &nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" width=\"756\" height=\"756\" src=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/\u641c\u72d7\u9ad8\u901f\u6d4f\u89c8\u5668\u622a\u56fe20250902084420.png\" alt=\"\" class=\"wp-image-8282\" srcset=\"https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/\u641c\u72d7\u9ad8\u901f\u6d4f\u89c8\u5668\u622a\u56fe20250902084420.png 756w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/\u641c\u72d7\u9ad8\u901f\u6d4f\u89c8\u5668\u622a\u56fe20250902084420-300x300.png 300w, https:\/\/blockwind.news\/china\/wp-content\/uploads\/2025\/09\/\u641c\u72d7\u9ad8\u901f\u6d4f\u89c8\u5668\u622a\u56fe20250902084420-150x150.png 150w\" sizes=\"auto, (max-width: 756px) 100vw, 756px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Another feature that reassures Emma is that &#8220;it\u2019s fully decentralized: transactions are recorded on-chain, private keys are held by users, and the platform cannot access user funds,&#8221; Emma added when reached through Telegram. &#8220;Of course, their incentive economic model also helps\u2014one-third of fees are rewarded to long-term holders and token creators, promoting community growth.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The evidence speaks for itself: Since July, RadFi has facilitated over 25 token launches with liquidity, saved users more than 5 BTC in failed transaction fees and crossed the $5M trading volume mark on multiple days, even as broader markets sagged. The community is abuzz and demand, quite frankly, crashed the app \u2014 more than once.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a><\/a><strong>Scott Smiley\u2019s Journey \u2013 TRadFi to DeFi<\/strong><strong><\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Scott Smiley\u2019s career path is emblematic of the twists and turns common among today\u2019s founders and operators in the crypto space, rather than following any linear trajectory. His journey began in traditional finance at Deutsche Bank, where in 2017 he watched cryptocurrency begin to go mainstream: \u201cBack in 2017, when I was a Deutsche Banker, there were only three coins listed on Coinbase \u2014 Ethereum, Bitcoin, and Litecoin. It was the early days when Ethereum shot up from $7 to $70,\u201d he recalled, describing his own slide \u201cinto the rabbit hole of cryptocurrency\u201d that would ultimately reshape his career.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Drawn deeper into the industry, Scott was invited by a former banking colleague to join the growing ETH ecosystem in Korea. There, he helped engineer the launch of one of the nation\u2019s largest crypto communities and built key DeFi infrastructure, including a Uniswap-equivalent and a MakerDAO-inspired project. \u201cWe built a Uniswap equivalent product. We built a MakerDao equivalent product. So I have a lot of experience building defi protocols,\u201d he said, crediting his technical skillset to both relentless problem-solving and collaboration with talented community engineers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Scott\u2019s journey would later lead him to explore real-world assets (RWA), before he made a pivotal shift. Encouraged by a team member who had launched the Bitcoin Puppet project, Scott shifted attention to Bitcoin DeFi at a time when enthusiasm in the space was waning, particularly after the highly anticipated\u2014but ultimately disappointing\u2014launch of Runes. Rather than joining those leaving for greener pastures, Scott and his team chose to stay, motivated to solve the pressing issues of liquidity and usability on Bitcoin\u2019s base layer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">RadFi\u2019s core mechanism drew inspiration from the \u201cLight Pools\u201d concept first put forward by Casey Rodarmor. As Scott explains, \u201cThe idea behind Light Pools is simple. Users who wish to offer swaps between Bitcoin-native assets, like rare sats, inscriptions, or runes, run nodes that quote prices for swaps.\u201d While Rodarmor critiqued automated market makers (AMMs) for lacking technical efficiency, Scott\u2019s team blended Light Pools\u2019 peer-to-peer swap vision with AMM-style pricing and automation\u2014giving less technical users a way to participate and ultimately deepening liquidity for all Bitcoin tokens.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Arriving for his first Hong Kong trip at the Bitcoin Asia Conference, Scott found the city\u2019s pulsing energy reminiscent of New York, the place he calls home. \u201cFor my first Hong Kong trip, I find the City incredible with a vibe similar to New York,\u201d he said, energized by the buzzing community, face-to-face meetings with international users, and the infectious optimism now returning to Bitcoin DeFi thanks to innovations like RadFi.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since launch, Scott points to several proof points that underscore RadFi\u2019s market traction: more than 5 Bitcoin saved for users, on-chain verifiable; over $1 million in organic TVL secured; and $5 million daily trading volume reached on several occasions, even with prevailing bearish conditions in the broader market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cDYOR, or do your own research! At the end of the day, trading memecoins is like betting or gambling\u2014you could lose almost everything, if not everything,\u201d Scott said when asked about platform risks beyond scalability challenges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About the author<\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.linkedin.com\/in\/joepanimpactnews\/\"><u>Joe Pan<\/u><\/a>&nbsp;is an editor and producer at Blockwind News. &nbsp;An early adopter of blockchain technology, he has covered major crypto conferences globally since 2019 and moderated Web3 events across Asia. Joe is part of the founding team of Blockwind News and teaches Asia\u2019s only accredited Master of Journalism course on \u201cCovering Cryptocurrency and Blockchain\u201d at Hong Kong Baptist University.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.linkedin.com\/in\/geoffreycheng\/\"><u>Geoffrey Keane Cheng<\/u><\/a>&nbsp;contributed to this article and took the photos. He is a Hong Kong-based Web3 content and social media specialist.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>September 02, 2025 By Joe Pan RadFi\u2019s launch in July 2025 is making waves among traders of Bitcoin-native assets, like rare sats, inscriptions, or runes. Co-founder Scott Smiley (@benny_options) shared what\u2019s driving the initial success of the Bitcoin Layer 1 DeFi platform, especially among Chinese traders at the BitcoinAsia Conference in Hong Kong. The \u201cPlanned [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":8280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128,129],"tags":[],"class_list":["post-8277","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese Traders Use New Bitcoin DeFi Platform | Bitcoin News<\/title>\n<meta name=\"description\" content=\"Traders in China start using a new decentralized finance platform built for bitcoin to trade and earn yield.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blockwind.news\/china\/2025\/09\/02\/chinese-traders-embrace-newly-launched-bitcoin-defi-platform\/\" 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