Babylon

DeFi

Ignite

Bitcoin

Grand Cayman, Cayman Islands, December 18th, 2024, Chainwire
<h3 id="sui-developers-can-soon-integrate-bitcoin-s-security-and-liquidity-into-their-apps-with-many-of-sui-s-top-protocols-on-board">Sui developers can soon integrate Bitcoin’s security and liquidity into their apps, with many of Sui’s top protocols on board&nbsp;</h3>
<a href="http://sui.io" rel="noopener noreferrer nofollow" target="_blank">Sui</a> is rapidly moving in on Bitcoin DeFi (BTCfi). After <a href="https://blog.sui.io/babylon-labs-lombard-protocol-cubist-bitcoin-lbtc/" rel="noopener noreferrer nofollow" target="_blank">announcing</a> that Bitcoin staking was coming to Sui, the Layer 1 blockchain delivering unparalleled performance today unveiled a partnership with <a href="https://satlayer.xyz/" rel="noopener noreferrer nofollow" target="_blank">SatLayer</a>, the leading Bitcoin restaking platform. The move integrates Bitcoin’s liquidity and security model into Sui’s ecosystem, creating new ways for developers to build and for users to interact with the nearly $2 trillion asset.
SatLayer, as Babylon’s designated restaking partner, enables apps and infrastructure to also unlock Bitcoin’s massive liquidity, capital efficiency, and shared security. SatLayer’s architecture enables apps and infrastructure including bridges, decentralized exchanges, and oracles to be secured by Bitcoin. By deploying as smart contracts on Babylon Chain, SatLayer enables fully programmable slashing with minimal trust assumptions, bringing restaking on Bitcoin to feature-parity with Ethereum.
As part of this partnership, SatLayer will also work with several of the largest projects on Sui including Navi, Suilend, Cetus, Aftermath, and Ika, co-developing and showcasing uses of BVSes and Bitcoin to the broader Move developer ecosystem.
“Sui’s move into Bitcoin DeFi points to Sui Foundation’s commitment to be a destination for BTCfi,” said Jameel Khalfan, Global Head of Ecosystem at Sui Foundation. “The combination of Bitcoin’s size and security with Sui’s speed and scalability gives developers and users new possibilities to build on Bitcoin. We couldn’t be more excited.”
“Sui is the perfect Layer 1 blockchain to utilize Bitcoin’s unmatched security and liquidity,” said Luke Xie, Co-Founder and CEO of SatLayer. “Starting with Bitcoin restaking and expanding into BTC liquidity for applications and infrastructure, this collaboration opens up incredible possibilities for Sui’s builders and users.”
SatLayer will leverage Bitcoin Liquid Staking Tokens (LSTs) and LSTs partners such as Lombard Finance and Lorenzo Protocol to enhance liquidity and capital efficiency for the Sui ecosystem, with Liquid Restaking Tokens (LRTs) to come. This approach allows applications on Sui to tap into Bitcoin’s deep liquidity and unmatched security, giving Sui developers a new arsenal of BTCfi primitives and users more choices for secure and reliable protocols to explore.
“We’re excited to play a key role in bringing Bitcoin to Sui,” said Fisher Yu, CTO of Babylon Labs. “By combining Babylon Bitcoin staking with SatLayer’s restaking framework, the Sui ecosystem now has the building blocks for a powerful onchain Bitcoin DeFi ecosystem. It is a big step towards our vision of a Bitcoin-secured decentralized world.”
SatLayer’s integration brings Sui’s future as a primary destination for BTCfi further into focus after it was announced in November that Babylon, Lombard Finance, and Cubist were teaming up to launch Bitcoin staking on the surging L1 network. SatLayer is Babylon’s exclusive restaking partner.
For more information about Sui’s ecosystem and its work with SatLayer, users can visit <a href="http://sui.io" rel="noopener noreferrer nofollow" target="_blank">sui.io</a>.&nbsp;
<h5>Contact</h5>
Sui Foundation media@sui.io

SatLayer Bitcoin Restaking Integration Set to Ignite BTCfi on Sui

Table of Contents

TheNewsCrypto

Other articles published on Dec 18, 2024

Pepeto Project Launches Utility-Driven Solutions for Memecoins

New Senate Banking Chair Labels Crypto the ‘Next Wonder,’ Aims for New Crypto Regulations in 2025

US Treasury Department Sanctions This Country's Cryptocurrency Laundering Network! Here Are the D...

This $0.001333 Cardano challenger aims for $10 before ADA reclaims 2021 highs

Will Cryptocurrency Prices Surge by Year-End?

GITEX ASIA AND SGTECH FORGE STRATEGIC PARTNERSHIP TO TRANSFORM ASIA’S TECH LANDSCAPE

Join our free newsletter for daily crypto updates!