Chakra, the first modular BTC settlement network, is thrilled to announce a strategic integration with Babylon, a native Bitcoin staking protocol.
Based on a shared vision for further empowering Bitcoin, this collaboration will facilitate a secure, scalable, and interoperable Bitcoin liquidity network, unlocking Bitcoin's potential and reshaping the cryptographic ecosystem.
Babylon ingeniously leverages Bitcoin's strongest PoW security and highest asset value, allowing any PoS system to benefit from Bitcoin Security, transforming bitcoin into a yield-bearing stakable asset. Babylon bitcoin staking protocol acts as the control plane, where Bitcoin holders simply lock their bitcoins in a self-custodial way to gain the rights to validate PoS systems and earn yields in return. Whereas, PoS systems can opt-in to bitcoin-backed security and enjoy high slashable security, healthy economics, and broader adoption.
Chakra aims to address liquidity and interoperability challenges, unleashing the immense value of Bitcoin across diverse blockchain ecosystems. Through secure and efficient settlement consensus, Chakra can securely and efficiently map staked BTC through Babylon into any ecosystem via Chakra network’s modular settlement service, activating the liquidity of long-term held Bitcoin assets.
The collaboration between Chakra and Babylon offers a secure, yield generating scheme for long-term Bitcoin holders, potentially unlocking the liquidity of $1 trillion Bitcoin. On the one hand, Babylon ensures the economic security of Chakra’s settlement consensus through shared security provided by staked BTC; on the other hand, the high-performance and parallelized settlement solution provided by Chakra enables efficient liquidity flow of BTC assets in Babylon across various blockchains and protocols, facilitating additional interests in BTCFi ecosystem. Together, Chakra and Babylon are leading the wave of the BTC DeFi Summer.
About Babylon
Babylon is a blockchain project that designs security sharing protocols for the decentralized economy, founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the U.S. Academy of Engineering. He is renowned as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications, and is the recipient of prestigious awards such as the IEEE Claude E. Shannon Award and the IEEE Richard W. Hamming Medal. The project is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.
Babylon's mission is to scale Bitcoin to secure the decentralized economy. To achieve this, Babylon utilizes the three primary facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant blockspace in the world. To leverage these facets, Babylon is developing three innovative security-sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol. Through these pioneering protocols, Babylon envisions a more secure and decentralized future.
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About Chakra
Chakra Network is the first modular settlement layer designed to unlock Bitcoin's liquidity across diverse blockchain ecosystems. Chakra offers a high-performance and parallelized modular settlement solution for efficient liquidity flow across Layer 2’s, AppChains, and native BTC assets.
Chakra Network provides a shared settlement layer that enhances Bitcoin's integration into the broader blockchain landscape, enabling other BTC Layer 2 solutions to focus on execution without the complexities of building settlement infrastructure. This innovative approach unlocks interconnected liquidity and economic security, fostering a dynamic and vibrant ecosystem.
Layer 2 solutions and decentralized applications (DApps) benefit from Chakra's robust liquidity network effects, ensuring secure and scalable transaction processing. Chakra Network empowers Bitcoin ecosystem participants with the tools needed to drive growth and innovation within a secure, scalable, and interoperable framework.