SolvBTC.BBN
SolvBTC.BBN is a liquid staking token (LST) for Bitcoin, representing the staked Bitcoin in Babylon. SolvBTC.BBN allows Bitcoin holders to earn staking yields, in exchange for sharing $1.3 trillion economic security of Bitcoin with PoS chains, while enabling them the flexibility to participate in DeFi.
What is Babylon?
Ethereum, as the second-highest market cap asset, has evolved beyond its initial goal of being “the world computer” to becoming a security layer for other networks through EigenLayer and nearly 100 rollups building on it. A primary security source for blockchains is a significant amount of capital funneled through a desirable asset that can be staked, such as ETH. Projects like EigenLayer leverage ETH to secure other blockchains rather than relying on high token emissions.
In just five months, EigenLayer has attracted over $13 billion in Total Value Locked (TVL), showcasing that ETH is a desirable asset for shared security. Given its success, the question arises: why not apply this model to the only asset more desirable and secure than ETH — Bitcoin?
Babylon is a protocol working to create Bitcoin staking, allowing BTC holders to share over $1.3 trillion of economic security with other networks in exchange for a staking yield.
Preparing for Babylon’s Mainnet Launch
SolvBTC Babylon (SolvBTC.BBN), is a liquid staking token for Bitcoin, and can be obtained by staking your SolvBTC. SolvBTC.BBN will not produce yields initially but is designed in preparation for Babylon’s mainnet launch. When Babylon launches its mainnet, Solv will be among the first participants, positioning SolvBTC.bbn as a pioneering liquid staking token for Bitcoin.
Benefits for Participants
Early Participation: Be among the first to participate in Babylon’s staking ecosystem.
Seamless Access: Bitcoin holders on multiple chains can easily access Babylon’s staking yields, avoiding high gas fees and long block production times on the Bitcoin mainnet.
Bitcoin Mainnet: BTC users
Ethereum: FBTC users
BNB Chain: BTCB users
Arbitrum：WBTC users
Merlin Chain: M-BTC users
Shared Economic Security: Bitcoin holders can stake their BTC to share economic security with other networks, potentially earning staking yields.
Liquid Staking Token: SolvBTC.BBN is a liquid staking token, providing flexibility and maintaining liquidity for BTC holders.
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