Coming to Kraken! Meet SODA.
Coming to Kraken! Meet SODA.
For Bitcoin-native applications that want to give BTC holders trading and money-market lending across 18+ networks, self-custodied from entry to settlement, with no wrapping and no centralized exchange in the middle.
The Partner
Bound (formerly radFi) is full-stack DeFi built natively on Bitcoin. Users trade, borrow, and earn from a single self-custodial account, with no KYC, no bridges, and no liquidations. Through Bound, holders trade crypto majors like ETH, SOL, BNB and USDC alongside RWAs, with atomic on-chain settlement secured by their own keys.
The Challenge
Bitcoin holds around 60% of the crypto market with over $1.5 trillion in market cap, but less than 1% of that supply is active in DeFi today. As Bitcoin's network was not designed to host smart contracts, builders bringing BTC on-chain have faced two compromises:
Wrapping the asset, which introduces a custodian between the user and the underlying Bitcoin (wrapped BTC alone accounts for over $8 billion in TVL).
Routing through a centralized exchange, which adds custody, latency, and counterparty exposure to what should be a self-custodied trade.
Bound's settlement architecture solves custody on the Bitcoin side, but reaching liquidity across every other network would have meant building cross-network execution infrastructure from scratch.
The Solution
Bound integrated the SODAX SDK to expose native Bitcoin across 18+ networks through a single intent-based execution call. Bound owns the user experience; SODAX handles the execution.
1
Sub-Block Settlement, Full Custody
Bitcoin-side settlement runs on a two-of-two multisig trading wallet that lets the SODAX Solver treat a transaction as final at the moment of broadcast, settling end to end in approximately one minute. The user keeps custody of their BTC throughout, and the multisig expires by default after inactivity, returning the keys fully to the holder.
2
Liquidity Across 18+ Networks, Out of the Box
A single SDK integration exposes native BTC across Ethereum, Solana, Arbitrum, Base, Avalanche, Sui and more. Bound did not build execution infrastructure or bootstrap per-network liquidity. SODAX's solver-based model and protocol-owned liquidity carry it.
3
No Wrapper, No Centralized Hop
Native BTC moves into and out of Bound without WBTC, without a centralized exchange round trip, and without bridge custody. Inside the money market, BTC becomes a borrowing asset without users having to wrap their collateral first.
4
First to Market
The partnership made Bound first to market with native Bitcoin inside a cross-network execution system, positioning it as something developers build with rather than a destination users visit, with native BTC available as a primitive across wallets, DEXs, and lending protocols.
At a glance
Quote
"Bringing native BTC trading directly against assets like ETH and SOL isn’t just an incremental improvement, it’s a new primitive. This integration with SODAX sets the foundation for the fastest native BTC-to-anything trading experience in the industry"
— Scott Smiley
Co-Founder, Bound
References
Bound Results
Native Bitcoin, Self-Custodied
BTC holders trade and use native Bitcoin as collateral without wrapping or a centralized exchange, keeping custody from entry to settlement.
18+ Networks of Liquidity
Native BTC is addressable from every supported network, with quotes returned through the SODAX Solver and settlement handled atomically.
~1 Minute Settlement
Two-of-two multisig lets the Solver treat Bitcoin transactions as final at broadcast, settling end-to-end in about a minute.
First to Market
Bound landed first to market with native Bitcoin inside a cross-network execution system, without building execution infrastructure itself.
xStocks on Bound
The release of xStocks on Bound is the first time you can swap directly from native BTC to xStocks on-chain.
Live price-candle market data
Bound powers its charts with asset price history pulled directly from SODAX.
SODAX Integration
Three integration paths for SDK partners: wallets, DEXs and aggregators, and money markets.
Foundation Layer
@sodax/sdk
The core logic that powers the entire ecosystem. The same intent-based execution call that routes EVM, Solana and Sui now resolves to native Bitcoin on the Bitcoin side.
Connection Layer
@sodax/wallet-sdk-react
An opinionated wrapper optimized for React applications, providing pre-built context providers and state management for wallet connections.
Experience Layer
@sodax/dapp-kit
The fastest way to build with SODAX. An opinionated collection of UI components, hooks, and utilities that leverages the layers below it.
Get started
Jennifer Kim, Business Development Lead jennifer@sodax.com
Read the SODAX docs
