Babylon Labs has launched Babylon Genesis, the first Bitcoin Secured Network (BSN), which allows proof-of-stake (PoS) networks to leverage Bitcoin's security and liquidity without the need for wrapping or bridges. The network currently secures over $4.5 billion in Bitcoin total value locked (TVL), equivalent to more than 55,000 BTC. The Babylon Genesis model uses a control plane approach to enable direct interaction with Bitcoin while reducing costs and maintaining cryptographic guarantees. The platform also opened airdrop registration starting February 25, 2025. Separately, hybrid layer-2 network BOB (Build on Bitcoin) has integrated with crypto custody firm Fireblocks, allowing over 2,000 institutional clients to earn yield on their Bitcoin holdings. BOB's DeFi ecosystem has a total value locked of $250 million and aims to position Bitcoin as a central network for decentralized finance.