LlamaRisk's Oct. 23 pre-listing assessment indicates that Babylon Labs' proposed native Bitcoin lending market on Aave V4 will still require Wrapped Bitcoin (WBTC) for its direct-liquidation fallback, specifically for application fees or borrower compensation. Even if an operator can bypass Aave's shared lending pool, a liquidation may fail if these WBTC payments cannot be processed. The assessment also noted that the integration contracts have not yet been deployed on the Ethereum mainnet, with Babylon's published addresses identified as Sepolia testnet deployments.