pSTAKE Finance Launches World’s First Bitcoin Liquid Staking Solution on Babylon

• pSTAKE Finance launched thefirst Bitcoin liquid staking solution in the world. The firm is backed by Binance Labs, a sister company of Binance.
• Staking will be non-custodial and flexible, ensuring the holders' liquidity while offering passive $BTC yields.
• pSTAKE Finance has a Total Value Locked (TVL) of $5.46M, showing significant growth potential.

pSTAKE Finance launched the first Bitcoin liquid staking solution, bringing to reality one of the most sought-after features in the crypto industry - Bitcoin ($BTC) staking.

The platform introduces $BTC yields and a liquid staking protocol backed by Binance Labs. Leading security firms will audit the protocol (like Cobo), ensuring transparency and trust.

The launch unlocks new use cases for Bitcoin, giving users the ability to earn yields on their unused $BTC holdings.

Version 1 of pSTAKE Finance's staking solution runs on Babylon's Trustless BTC Staking protocol and has a 50 $BTC deposit cap for protocol security.

Let's unpack pSTAKE Finance's plans and see how the Babylon protocol implements Bitcoin staking.

Babylon Staking - First $BTC Staking Solution in the World

Babylon is a security-sharing protocol that plays a critical role in pSTAKE Finance's staking solution.

Before Babylon's innovation, Bitcoin staking was impossible. The protocol bridges the gap between Proof of Work (PoW) blockchains (like Bitcoin, and Proof of Stake (PoS) blockchains (like Ethereum).

Babylon offers several key features:

• Fast $BTC unbonding (un-staking)
• Trustless staking for full freedom
• Scalable restaking
• Modular design
• Full security against PoS attacks

The protocol is collaborating with industry leaders like Ankr, Cosmos Hub, LugaNodes, OKX Wallet, and OneKey. Moreover, their staking testnet is live now.

In a recent pre-launch funding phase, Babylon has raised $70M to advance its scalable staking features and prepare for the mainnet launch.

David Tse, Babylon's co-founder, said that this funding will accelerate our mission to make Bitcoin the security backbone of PoS systems.'

Without Babylon, Bitcoin staking would remain a far-away dream for crypto enthusiasts and $BTC HODLers.

pSTAKE Finance Brings $BTC Back with Liquid Staking

pSTAKE Finance has a $5.46M TVL.

pSTAKE's solution allows you to deposit Bitcoin and participate in securing PoS chains to generate passive yield on $BTC.

Liquid staking means you retain full asset flexibility through a yield-bearing liquid staking Bitcoin derivative (yBTC - not yet launched).

The rewards are auto-compounded into the protocol and distributed as $BTC in the future. More specifically, you start earning rewards once the PoS chains start consuming $BTC security

Babylon Bitcoin staking protocol is designed to open up new yield avenues for Bitcoin holders. The integration of pSTAKE Finance's Bitcoin Liquid Staking solution is a significant step towards realizing the potential of Bitcoin in a secure and efficient manner.Fisher Yu, Babylon co-founder

pSTAKE Finance has also partnered with leading blockchain security companies like Hexens, Immunefi, Halborn, and Forta, gaining industry trust and expertise.

Will pSTAKE Finance's Staking Solution Revolutionize Bitcoin?

pSTAKE Finance's announcement gives $BTC holders a compelling reason to hold on to their digital gold' for the long run and invest in the blockchain.

Furthermore, with its main backer as Binance Labs (a sister company to Binance), pSTAKE should possess sufficient funds to push $BTC staking to a new level.

References

• Babylon Staking Official Website (Babylon Staking)
• Babylon Staking Testnet (Babylon Staking)
• pSTAKE Finance Launches its Bitcoin Liquid Staking Solution on Babylon and Brings Yield to the King of Crypto (The Defiant)

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