Both parties will work together to create a safer, lower-threshold, and easier way for users to participate in Bitcoin staking, contributing to the development of the Bitcoin staking ecosystem.
On December 18, the hybrid Layer 2 project BOB (Build on Bitcoin) announced a partnership with the Bitcoin staking protocol Babylon. The two parties will leverage their respective strengths to integrate Bitcoin's secure network, bringing Bitcoin Finality into BOB's hybrid L2 network.
By integrating with the Babylon protocol, BOB will build a globally leading Bitcoin Secure Network (BSN). Together, they will create a safer, lower-threshold, and easier way for users to participate in Bitcoin staking, aiding the development of the Bitcoin staking ecosystem and providing users with a new staking innovation experience between Bitcoin and BOB's powerful hybrid L2 network, ultimately unlocking the $500 billion potential of the Bitcoin staking market. This also marks an important step in the second phase of BOB's development roadmap, which will officially launch in early 2025.
BOB is a hybrid Layer 2 platform that combines the security of Bitcoin with the flexibility of Ethereum smart contracts, supporting the Bitcoin ecosystem including Ordinals, Lightning, and Nostr, aiming to enhance Bitcoin's usability and expand its functionality. BOB's vision is to ensure security through the most secure L1, BTC, and to create a trustless bridge connecting BTC, ETH, and other L1 blockchains. Therefore, Hybrid L2 does not rely on third-party bridging tools for interoperability while addressing the liquidity issues of decentralized BTC multi-chain.
Leveraging Hybrid L2's leading liquidity aggregation products and technology, BOB has been committed to promoting the large-scale use of BTC liquid staking assets (LSTs), releasing untapped BTC liquidity potential to the DeFi world. BOB believes that DeFi has higher potential on the Bitcoin network and emphasizes the irreplaceable role of BTC as a pillar of the future of DeFi. It is reported that BOB has contributed over $200 million in TVL to the Bitcoin staking ecosystem, including Babylon LST assets supported by liquidity aggregation platforms such as Solv, Bedrock, and PumpBTC. Additionally, BOB's one-click Bitcoin staking product — BOB Stake allows millions of users to easily obtain Babylon LST assets through integration with third-party staking service platforms (such as Staking Rewards, XverseEarn, and Everstake) with just one Bitcoin network transaction.
To support the new positioning of BOB's Bitcoin Secure Network (BSN), Lombard announced that it will introduce LBTC into the BOB network. LBTC is the largest Bitcoin LST asset, with a TVL of approximately $1.5 billion, 80% of which is actively deployed in DeFi. BOB will become the fourth largest native LBTC deployment network after Ethereum, Base, and BNB Chain.
Furthermore, BOB announced that starting today, additional Babylon points for staking Bitcoin LST assets will be distributed to BOB users over the next 45 days, providing users with a channel and opportunity to earn substantial Babylon points outside of participating in Babylon's official staking.
Alexei Zamyatin, co-founder of BOB and core contributor to BitVM, stated: “Integrating Bitcoin Finality into the BOB hybrid L2 model through Babylon is a natural choice that combines the best features of Bitcoin and Ethereum on one platform. The LST assets based on Babylon have already made significant contributions to BOB's DeFi TVL. Additionally, BOB will also integrate Lombard's LBTC. This collaboration strengthens our commitment to making BOB the 'home of BTC DeFi.' The Bitcoin staking ecosystem has enormous potential, with DeFi only accounting for 0.1% of BTC's market value, while ETH accounts for 30%.”
On the Babylon platform, users can stake their Bitcoin securely without transferring it out of their addresses. This means Bitcoin holders do not need to bridge to a PoS chain and do not need to wrap or custody their staked Bitcoin. This preserves the inherent security of the Bitcoin network while allowing BTC holders to earn returns on their assets. With the launch of Babylon Cap-3 mainnet staking last week, Babylon has once again demonstrated the surge in demand for Bitcoin staking. On December 17, the staking of BTC worth over $6 billion officially concluded.
Fisher Yu, CTO of Babylon Labs, stated: “We are excited to support BOB in becoming a Bitcoin Secure Network. Integrating Babylon LST assets into BOB's hybrid L2 model lays the foundation for both parties to jointly build a robust Bitcoin DeFi ecosystem. This integration is a key step towards realizing the vision of a secure decentralized world for Bitcoin.”
The integration between BOB and Babylon follows the release of the BOB Hybrid L2 vision document, which outlines BOB's role in positioning Bitcoin as a pillar of DeFi. The second phase of the Hybrid L2 vision includes increasing Bitcoin Finality, now provided by Babylon, along with the launch of a trust-minimized Bitcoin bridge supported by BitVM (expected to launch a testnet in Q1 2025). This will enable BOB to combine the security of Bitcoin with the innovation of Ethereum, bringing a more prosperous on-chain ecosystem to developers and users.
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About BOB (Build on Bitcoin)
BOB (Build on Bitcoin) is a hybrid Layer-2 network that combines the advantages of Bitcoin and Ethereum, aiming to establish itself as the "home of BTC DeFi." The unique Hybrid L2 model merges the strengths of both ecosystems — the security of Bitcoin and dormant BTC capital, along with the DeFi innovation and versatility of Ethereum. By positioning BTC as a pillar of a new decentralized financial system, BOB can unlock new use cases and trillions of BTC liquidity. BOB perfectly inherits the security of the Bitcoin network using the BitVM protocol and creates trust-minimized bridges between BOB, Bitcoin, Ethereum, and other L1 networks. Therefore, Hybrid L2 does not need to rely on third-party cross-chain bridges for interoperability, easily concentrating liquidity around the Bitcoin network rather than dispersing it across various chains.
BOB is supported by leading investment institutions such as Castle Island Ventures, Coinbase Ventures, Ledger Cathay Ventures, and IOSG.
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About Babylon
Babylon is a project designed to create a Bitcoin-secured shared protocol, aiming to build a decentralized world secured by Bitcoin. Its latest development is the world's first trustless and self-custodial Bitcoin staking protocol, allowing Bitcoin holders to stake their Bitcoin on proof-of-stake (PoS) systems (such as PoS chains, L2s, data availability DA layers, etc.) to earn rewards without third-party custody, cross-chain bridges, or wrapping services. Babylon's approach combines Bitcoin's high security and widespread adoption with the efficiency and scalability of PoS systems, enhancing Bitcoin's usability. Babylon was founded in 2022 by Stanford University professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the National Academy of Engineering, known for inventing the legendary proportional fair scheduling algorithm. Babylon is led by a team of consensus protocol researchers and experienced L1 blockchain engineers from around the world.
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