Starting in December, Bitcoin holders will be able to stake BTC on Babylon, a Bitcoin layer-2, from the Sui network.
Babylon Labs and Lombard Protocol are preparing to bring liquid Bitcoin (BTC) staking to Sui, the burgeoning layer-1 blockchain network, Sui and Babylon disclosed on Nov. 25.
Starting in December, Bitcoin holders on Sui will be able to stake BTC to Babylon, a Bitcoin layer 2 (L2) network, and mint LBTC, Lombard’s liquid staking token (LST), according to the announcement.
The initiative “aims to onboard Bitcoin liquidity to the Sui ecosystem, growing the decentralized finance ecosystem with LBTC as a collateral asset, and inviting Bitcoin holders to do more with their Bitcoin via LBTC,” Sui and Babylon said.
