I should have said the design of bitcoin.
You are right, the tenets have spread to elsewhere. Other things will pick up the march.
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I think it's interesting because Bitcoin can still act under the pristine collateral narrative for banks, nation states, and mega corporations. It is the thing the derivatives are constantly derived from, be it other crypto, institutional custody, self-made loans, and perhaps even one day fiat currency itself. Perhaps it is the fate of Bitcoin to just sit there and look pretty while the big boys derive other assets from it.
Certainly especially long term collateral that isnt really affected by volatility.
It could sit on the balance sheets of banks or companies, and then be leveraged in different ways.
I fully expect the derivatives tied to bitcoin to explode over the rest of the decade. On that you are right, we are just getting started.