BOB Integrates Babylon, Secures Transactions with Bitcoin Staking
BOB (Build on Bitcoin) has partnered with Babylon to bring Bitcoin finality to its network.
By using Babylon’s Bitcoin staking protocol, BOB ensures all transactions on its platform are permanent and irreversible on the Bitcoin blockchain. This puts BOB at the forefront of Bitcoin based DeFi by combining the immutability of Bitcoin with staking and smart contracts.
Babylon which has a TVL of $6B allows Bitcoin holders to stake their assets to secure dApps and earn rewards. Through this protocol BOB can release Bitcoin liquidity into DeFi apps without compromising Bitcoin’s security.
A Hybrid L2 Model: Bitcoin Meets Ethereum
BOB’s hybrid L2 network combines Bitcoin’s security with Ethereum’s smart contracts, giving users and developers more flexibility. It has already seen significant adoption with over $200M TVL, 320,000 users and over 100 projects.
As part of its Phase 2 roadmap BOB will introduce bridges to other networks using BitVM, a framework that allows Ethereum like smart contracts on Bitcoin. The testnet for BitVM is expected to launch in early 2025, showing BOB’s commitment to bringing Bitcoin into DeFi.
Also BOB has announced the integration of LBTC, the largest Bitcoin LST with a TVL of $1.6B managed by Lombard Finance. LBTC is the 4th LST to be deployed on BOB, after Ethereum, Base and Binance Smart Chain. 80% of LBTC’s TVL is already in DeFi apps, showing its importance in the ecosystem.
Incentivizing Staking and DeFi Activity
To celebrate the partnership with Babylon BOB has launched a 45 day campaign to incentivize Bitcoin staking and DeFi participation. 4.5M Babylon Points will be distributed daily to eligible users.
Key incentives include:
Partnerships with LST providers like Bedrock and PumpBTC.
A seamless staking experience via the “BOB Stake” portal for converting Bitcoin into staking positions.
Additional rewards aimed at driving adoption of Bitcoin staking within DeFi applications.
This is part of BOB’s mission to make staking of Bitcoin easier and to bring liquidity to the DeFi landscape. BOB’s partnerships with wallets, aggregators and staking providers makes it the foundation for future DeFi apps built on Bitcoin.
Key Takeaways:
Integration: BOB secures transactions with Babylon’s Bitcoin finality and staking.
Adoption: Over $200M TVL and 320,000 users reflect rapid ecosystem growth.
Expansion: New bridges and BitVM testnet will connect Bitcoin to broader DeFi.
Campaign: 45-day rewards initiative incentivizes staking and DeFi activity.
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