Atomic Finance founders Tony Cai and Matthew Black announced that their core DLC (discreet log contract) technology and intellectual property have been integrated into Lygos, a newly formed, institution-focused, non‑custodial bitcoin lending platform led by co‑founders Jay Patel and Francis Corvino.
The move pivots Atomic’s infrastructure—whose options vaults processed roughly $140 million in volume and held about $25 million in BTC TVL without hacks—toward delivering bilateral, bitcoin‑native credit products that keep collateral on Bitcoin L1 and issue stablecoins on Ethereum, avoiding wrapped tokens, bridges and third‑party custody. Lygos positions itself to serve institutional and high‑net‑worth borrowers with loans ranging from $25,000 to $100 million using DLCs for deterministic loan outcomes and oracle price attestations, while Atomic’s consumer app will sunset over the coming month with users instructed to retain their seed phrases to access funds. The founders framed the launch as a “third way” between custodial counterparty risk and the smart‑contract exposure that has driven multibillion‑dollar losses in some cross‑chain DeFi, and Lygos is beginning onboarding for its initial cohort of lenders and borrowers.