Blend is a decentralized, non-custodial liquidity market protocol built on Bitcoin Layer 2. It allows users to supply liquidity and earn passive income or borrow through overcollateralized or undercollateralized loans. The protocol is audited, open-source, and supports interaction via UI, API, or smart contracts. Users can tokenize their lender positions as bTokens, which are tradable and play a key role in governance and staking within Blend.