Bitcoin staking protocol SatLayer has officially launched Phase I of its Mainnet on Babylon Genesis, the worldโs first blockchain secured by Bitcoin.
As one of the first restaking applications on Babylon Genesis, SatLayer brings Bitcoinโs liquidity and security to decentralized systems, enabling Bitcoin to be used as collateral across a variety of blockchain-based applications.
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This launch follows the introduction of Babylon Genesis and its native BABY token, alongside Cube, a liquid staking solution that allows users to earn rewards by staking BABY.
Cube Liquid Staking Solution
Cube lets users stake BABY tokens, earn rewards, and interact with the growing Babylon Genesis ecosystem.
By staking BABY, users receive cBABY, which can then be used to earn more rewards through SatLayer or other DeFi platforms like Tower, a Babylon Genesis DEX.
Since Cube is directly integrated into Babylon Genesis, it provides a seamless experience without the need for bridging, allowing users to enhance security and earn rewards from multiple sources.
โThe introduction of cBABY with Cube creates a multiplier effect on BABYโs efficiency and yield generation,โ said Luke Xie, co-founder of SatLayer.
He added that SatLayer aims to connect the broader ecosystem in a way that enhances security and adoption without requiring a proportional increase in locked capital.
$250 Million in BTC Deposits and Expansion Plans
SatLayer launches with over $250 million in BTC deposited, providing a solid foundation for Bitcoin DeFi. The platform aims to help transform Bitcoin into a programmable asset with broader utility across the crypto ecosystem.
Initially focused on Babylon Genesis, SatLayer plans to expand to other leading Layer 1 and Layer 2 ecosystems, unlocking new use cases such as under-collateralized loans, slashing insurance, and on-chain prime brokerage.
Why This Matters
SatLayerโs launch marks a significant step in expanding Bitcoinโs role in DeFi. By enabling Bitcoin to be used as collateral, it enhances liquidity and security across the crypto ecosystem, offering new opportunities for yield generation and broader adoption.
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