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Babylon has secured $70 million in funding to advance Bitcoin staking as a security backbone for Proof-of-Stake (PoS) systems. The Babylon protocol allows PoS systems to utilize Bitcoin for staking, which reduces inflation and enhances security compared to native tokens. IOSG Ventures, LD Capital, and other investors are backing Babylon, highlighting the potential of this innovation. Babylon aims to unlock liquidity for Bitcoin on-chain and push the frontier of Bitcoin innovation. The Babylon team, including members like Bera, is committed to this project.
LD Capital is extremely excited about investing in @babylon_chain! Babylon's protocol allows PoS systems to use Bitcoin for staking, reducing inflation and enhancing security compared to native tokens. https://t.co/I60qCqCXyh
am very bullish on bitcoin longer term there are a lot layer 2s emerging, but @BotanixLabs is one of the few that excites me doing some angel investing in key platforms of the buildout to express my bullishness on the spiderchain 🤝 https://t.co/hKMk6SOR3H
Super bullish on @BitlayerLabs 🚀 https://t.co/uTRY0nWZ5n