Alkanes has announced its ambitious plan to establish itself as a pioneer in BTC-Fi by developing a comprehensive financial system on Bitcoin's Layer 1 (L1) without relying on Layer 2 solutions, Ethereum Virtual Machine (EVM), or inflationary mechanisms. The project aims to capture Bitcoin's economic flow as a source of yield, setting a new standard in decentralized finance (DeFi). The developers of Alkanes emphasize an engineering-driven narrative, focusing on code and technical innovation rather than market-driven metrics like Total Value Locked (TVL) or Annual Percentage Yield (APY). Their approach includes creating a unified yield system and implementing complex financial primitives such as futures and restaking directly on Bitcoin's L1, challenging existing DeFi boundaries. Alkanes' strategy involves significant technical challenges, including the development of a subp2p network and the introduction of Gauges for economic incentives. The project's success could redefine BTC DeFi, potentially positioning Alkanes as a foundational protocol akin to TCP/IP or Unix in the BTC-Fi ecosystem. Investors are advised to monitor the project's GitHub for progress and security audits rather than relying on social media hype.