{"id":29409,"date":"2024-12-18T14:39:05","date_gmt":"2024-12-18T14:39:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29409"},"modified":"2024-12-18T14:39:05","modified_gmt":"2024-12-18T14:39:05","slug":"satlayer-bitcoin-restaking-integration-set-to-ignite-btcfi-on-sui","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29409","title":{"rendered":"SatLayer Bitcoin Restaking Integration Set to Ignite BTCfi on Sui"},"content":{"rendered":"

[PRESS RELEASE \u2013 Grand Cayman, Cayman Islands, December 18th, 2024]<\/strong><\/p>\n

Sui developers can soon integrate Bitcoin\u2019s security and liquidity into their apps, with many of Sui\u2019s top protocols on board\u00a0<\/em><\/p>\n

Sui<\/a> is rapidly moving in on Bitcoin DeFi (BTCfi). After announcing<\/a> that Bitcoin staking was coming to Sui, the Layer 1 blockchain delivering unparalleled performance today unveiled a partnership with SatLayer<\/a>, the leading Bitcoin restaking platform. The move integrates Bitcoin\u2019s liquidity and security model into Sui\u2019s ecosystem, creating new ways for developers to build and for users to interact with the nearly $2 trillion asset.<\/p>\n

SatLayer, as Babylon\u2019s designated restaking partner, enables apps and infrastructure to also unlock Bitcoin\u2019s massive liquidity, capital efficiency, and shared security. SatLayer\u2019s architecture enables apps and infrastructure including bridges, decentralized exchanges, and oracles to be secured by Bitcoin. By deploying as smart contracts on Babylon Chain, SatLayer enables fully programmable slashing with minimal trust assumptions, bringing restaking on Bitcoin to feature-parity with Ethereum.<\/p>\n

As part of this partnership, SatLayer will also work with several of the largest projects on Sui including Navi, Suilend, Cetus, Aftermath, and Ika, co-developing and showcasing uses of BVSes and Bitcoin to the broader Move developer ecosystem.<\/p>\n

\u201cSui\u2019s move into Bitcoin DeFi points to Sui Foundation\u2019s commitment to be a destination for BTCfi,\u201d said Jameel Khalfan, Global Head of Ecosystem at Sui Foundation. \u201cThe combination of Bitcoin\u2019s size and security with Sui\u2019s speed and scalability gives developers and users new possibilities to build on Bitcoin. We couldn\u2019t be more excited.\u201d<\/p>\n

\u201cSui is the perfect Layer 1 blockchain to utilize Bitcoin\u2019s unmatched security and liquidity,\u201d said Luke Xie, Co-Founder and CEO of SatLayer. \u201cStarting with Bitcoin restaking and expanding into BTC liquidity for applications and infrastructure, this collaboration opens up incredible possibilities for Sui\u2019s builders and users.\u201d<\/p>\n

SatLayer will leverage Bitcoin Liquid Staking Tokens (LSTs) and LSTs partners such as Lombard Finance and Lorenzo Protocol to enhance liquidity and capital efficiency for the Sui ecosystem, with Liquid Restaking Tokens (LRTs) to come. This approach allows applications on Sui to tap into Bitcoin\u2019s deep liquidity and unmatched security, giving Sui developers a new arsenal of BTCfi primitives and users more choices for secure and reliable protocols to explore.<\/p>\n

\u201cWe\u2019re excited to play a key role in bringing Bitcoin to Sui,\u201d said Fisher Yu, CTO of Babylon Labs. \u201cBy combining Babylon Bitcoin staking with SatLayer\u2019s restaking framework, the Sui ecosystem now has the building blocks for a powerful onchain Bitcoin DeFi ecosystem. It is a big step towards our vision of a Bitcoin-secured decentralized world.\u201d<\/p>\n

SatLayer\u2019s integration brings Sui\u2019s future as a primary destination for BTCfi further into focus after it was announced in November that Babylon, Lombard Finance, and Cubist were teaming up to launch Bitcoin staking on the surging L1 network. SatLayer is Babylon\u2019s exclusive restaking partner.<\/p>\n

For more information about Sui\u2019s ecosystem and its work with SatLayer, users can visit sui.io<\/a>.\u00a0<\/strong><\/p>\n

The post SatLayer Bitcoin Restaking Integration Set to Ignite BTCfi on Sui<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Grand Cayman, Cayman Islands, December 18th, 2024] Sui developers can soon integrate Bitcoin\u2019s security and liquidity into their apps, with many of Sui\u2019s top protocols on board\u00a0 Sui is rapidly moving in on Bitcoin DeFi (BTCfi). After announcing that Bitcoin staking was coming to Sui, the Layer 1 blockchain delivering unparalleled performance […]<\/p>\n","protected":false},"author":0,"featured_media":29410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29409"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29409"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29410"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}