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LEO Token (LEO) $ 8.94
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USDS (USDS) $ 0.999780
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Hyperliquid (HYPE) $ 18.25
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999863
Bitget Token (BGB) $ 4.40
WETH (WETH) $ 1,811.31
Monero (XMR) $ 275.94
Ethena USDe (USDE) $ 0.999568
Pi Network (PI) $ 0.615443
WhiteBIT Coin (WBT) $ 29.24
Wrapped eETH (WEETH) $ 1,931.27
Coinbase Wrapped BTC (CBBTC) $ 95,416.00
Pepe (PEPE) $ 0.000009
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Uniswap (UNI) $ 5.59
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Ondo (ONDO) $ 0.983680
Official Trump (TRUMP) $ 15.03
Gate (GT) $ 22.49
Internet Computer (ICP) $ 5.16
sUSDS (SUSDS) $ 1.05
Kaspa (KAS) $ 0.099005
Aave (AAVE) $ 170.04
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BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Cronos (CRO) $ 0.092353
Tokenize Xchange (TKX) $ 31.10
Mantle (MNT) $ 0.736723
VeChain (VET) $ 0.027638
Render (RENDER) $ 4.44
POL (ex-MATIC) (POL) $ 0.245114
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Cosmos Hub (ATOM) $ 4.45
Algorand (ALGO) $ 0.230588
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Lombard Staked BTC (LBTC) $ 95,174.00
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Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.14
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Solv Protocol SolvBTC (SOLVBTC) $ 95,322.00
Jupiter (JUP) $ 0.475237
Stacks (STX) $ 0.878043
KuCoin (KCS) $ 10.63
Optimism (OP) $ 0.789163
NEXO (NEXO) $ 1.33
XDC Network (XDC) $ 0.080664
Maker (MKR) $ 1,502.49
Binance Staked SOL (BNSOL) $ 158.45
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Quant (QNT) $ 76.22
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Story (IP) $ 4.06
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Immutable (IMX) $ 0.592756
Flare (FLR) $ 0.017089
Kelp DAO Restaked ETH (RSETH) $ 1,886.35
EOS (EOS) $ 0.683621
Injective (INJ) $ 10.12
USDT0 (USDT0) $ 0.999997
The Graph (GRT) $ 0.100162
Wrapped BNB (WBNB) $ 606.75
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999849
Curve DAO (CRV) $ 0.669066
PayPal USD (PYUSD) $ 1.00
Raydium (RAY) $ 2.98
Rocket Pool ETH (RETH) $ 2,055.40
JasmyCoin (JASMY) $ 0.017189
IOTA (IOTA) $ 0.222814
Virtuals Protocol (VIRTUAL) $ 1.26
Solv Protocol xSolvBTC (XSOLVBTC) $ 94,941.00
Tether Gold (XAUT) $ 3,302.76
Polygon Bridged USDT (Polygon) (USDT) $ 1.00
Walrus (WAL) $ 0.643171
Bitcoin SV (BSV) $ 40.20
Core (CORE) $ 0.788989
PAX Gold (PAXG) $ 3,302.33
Pudgy Penguins (PENGU) $ 0.012372
Lido DAO (LDO) $ 0.863406
Jupiter Staked SOL (JUPSOL) $ 166.72
FLOKI (FLOKI) $ 0.000079
GALA (GALA) $ 0.017219
Arbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 95,377.00
Helium (HNT) $ 4.16
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clBTC (CLBTC) $ 94,849.00
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dogwifhat (WIF) $ 0.656822
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Stables Labs USDX (USDX) $ 0.999214
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Beldex (BDX) $ 0.069739
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AIOZ Network (AIOZ) $ 0.414982
uBTC (UBTC) $ 94,865.00
Avalanche Bridged BTC (Avalanche) (BTC.B) $ 95,319.00
pumpBTC (PUMPBTC) $ 93,068.00
StakeWise Staked ETH (OSETH) $ 1,895.42
Bridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
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ApeCoin (APE) $ 0.538480
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OUSG (OUSG) $ 110.83
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Hashnote USYC (USYC) $ 1.09
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Chiliz (CHZ) $ 0.041606
JUST (JST) $ 0.039414
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Olympus (OHM) $ 21.66
USDD (USDD) $ 1.00
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Mantle Bridged USDT (Mantle) (USDT) $ 0.998920
Axelar (AXL) $ 0.370258
Ronin (RON) $ 0.562394
Saros (SAROS) $ 0.131962
Terra Luna Classic (LUNC) $ 0.000064
Amp (AMP) $ 0.004109
Plume (PLUME) $ 0.172504
ether.fi Staked ETH (EETH) $ 1,796.63
Sun Token (SUN) $ 0.017778
Trust Wallet (TWT) $ 0.819588

Babylon Labs teams up with SatLayer to unlock DeFi for Bitcoin

By admin On Nov 28, 2024

Babylon Labs has partnered with Castle Island Ventures-backed SatLayer to bring the benefits of Bitcoin staking and restaking to more users.

The move aims to offer Bitcoin (BTC) holders the opportunity to explore the decentralized finance ecosystem around the world’s largest and most popular cryptocurrency.

Babylon, whose total value locked has surpassed $2 billion, is a leading BTC staking protocol. The platform eyes further liquidity, shared security, and capital efficiency for BTC holders in this partnership, according to a press release.

In proof-of-stake mechanisms, slashing allows for the punishment of validators’ bad behaviour. The implementation of the mechanism opens up Bitcoin’s utility within the DeFi ecosystem. Users staking BTC help secure PoS chains, rollups, and decentralized applications across the rapidly expanding decentralized finance market.

“Babylon Labs and SatLayer share a vision for Bitcoin’s future as the cornerstone of decentralized ecosystems. Together, we enable applications and infrastructure to harness Bitcoin’s unmatched security while expanding its liquidity through programmable restaking frameworks. The launch of SatLayer’s devnet opens up a new era of Bitcoin-powered innovation for builders everywhere.”

Luke Xie, co-founder of SatLayer.

The collaboration between Babylon Labs and SaltLayer significantly improves staking and restaking on Bitcoin, the platforms said.

Babylon Labs has secured the backing of major venture capital firms in the industry, including Paradigm, which led its $70 million round in June. The protocol also attracted investment from Binance’s incubation and venture capital arm in February 2024.

The $2 billion TVL protocol has partnered with ecosystem players such as Solv Protocol, Lombard and Bedrock to expand the Bitcoin DeFi ecosystem via liquid staking tokens. On Nov. 25, Babylon Labs and Lombard teamed up to bring Bitcoin staking to Sui.

Babylon’s offering allows Bitcoin holders to stake BTC across PoS chains, layer-2 networks and data availability layers, with users earning staking rewards.

Read more: Pantera Capital CEO: Bitcoin can hit $740k as blockchain adoption still lags

Source

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