We’re back again with the third installment of “What’s Up Bitcoin,” our latest series to keep our followers up-to-date with the highlights of what’s happening in the Bitcoin ecosystem over the past few weeks! 🦾
With the highly anticipated Babylon staking protocol now live, it’s been another thrilling fortnight for BTCfi and Bitcoin; let’s delve into the excitement! 🧵👇
What’s Going On In Bitcoin This Week?
- BTCfi Transactions Remains High
Data from our friends at Bitcoin Ecosystem shows that BSquared Network has led the way in the number of transactions on BTCfi in the past 30 days. 📈
The leader is followed up by CoreDAO + Merlin Layer
- Babylon Goes Live For BTC Staking
Babylon officially launched the first phase of its Bitcoin Staking Mainnet, a significant step that allows BTC holders to lock their coins for staking for the first time.
Babylon is one of the hottest BTCfi projects with its mission to bring BTC yields to holders 🔥
- BVMNetwork Launches Bitcoin Heartbeat
BVM Network launched its Bitcoin Heartbeat ecosystem, providing real-time data analytics for Bitcoin Scaling Solutions with top industry players all listed
BVM Network also launched a BSC Bridge to the Bitcoin RaaS studio to let users transfer $BNB between Bitcoin rollups and the BSC network to enhance liquidity and provide more options to builders.
- Stacks Releases Details on Nakamoto Upgrade
Muneeb Ali, Co-Founder of Stacks, released a detailed breakdown of the Nakamoto upgrade expected at the end of August.
Dubbed the most significant upgrade to Stacks since its launch, Nakamoto is a new consensus system that will introduce faster blocks, enable Perpetual protocols, enhance on-chain payment services, and introduce new DeFi primitives.
- Rootstock Integrates Steer Protocol and Opens New Runes Bridge
Rootstock was also busy this month after integrating @steerprotocol into its platform to bring Smart Pools for new liquidity management
Rootstock also introduced a new Runes bridge to allow devs to build Runes-focused apps directly on the platform 🤯
- pStake Finance Fills 50 BTC Cap and Deposits 10 BTC Into Babylon
pSTAKE Finance successfully filled its 50 BTC cap for its BTC liquid staking solution this week, demonstrating the building momentum for generating a secure and accessible yield on BTC. 🦾
pSTAKE also managed to deposit 10 BTC into Babylon’s cap as soon as it launched, bringing yields to its BTC depositors through Bitcoin liquid staking:
pSTAKE also revealed its next steps, which include:
✅Going live on Babylon
✅Introducing its SatDrop Campaign and pSats launch
✅Launching yBTC
✅Providing self-custody Bitcoin Liquid Stakin
✅ Tokenomics revamp
- BSquared Network Integrates Babylon Into B² Farming
BSquared Network announced this week that Babylon was integrated into in B² Farming as a yield provider in Strategy III through Bedrock.🧑🌾
The partnership will also help secure Bitcoin rollups and boost the development of BTC liquidity staking and restaking.
- BTC Layer2 Announces Partnership With Taker Protocol
BTC Layer2 announced a partnership with Taker Protocol to aggregate assets on BEVM. Together, they plan to activate dormant BTC liquidity via hashrate RWA and the veTaker model.
- Tap Protocol Makes History
Tap Protocol announced that it executed the first-ever Bitcoin-native smart contracts, swaps, and liquidity pool on the Bitcoin L1 mainnet, making a historic milestone for Bitcoin development!
Congratulations Tap Protocol 🎉
- Bounce Bit Launches New Website
Bounce Bit revealed its new website, helping all of its CeDeFi infrastructure and instruments to become accessible through one hub:
- Bedrock Integrates Particle Network
Bedrock announced an integration with Particle Network to bring Chain Abstraction to the Bitcoin ecosystem. The integration helps Bedrock integrate with BTC native wallets, making Bitcoin yields accessible to everyone.
- Build on Bitcoin Releases BitVM2 Paper
Build on Bitcoin announced week 2 of its Stablecoin Carnival, allowing users to complete quests for extra rewards:
It didn’t stop there. BoB also released its BitVM2 paper for its BTC bridge, designed to help bridge Bitcoin to second layers.
- CoreDAO Hits 20 million Unique Core Addresses
CoreDAO announced that it hit a historic milestone with 20 million unique Core addresses created on its mainnet.
The first Bitcoin-aligned EVM-compatible Layer-1 blockchain also announced that it is officially a Top 2 Bitcoin Sidechain with a $231 million TVL 🤯
- Map Protocol Announces New Logo and Integrates with Tron
Map Protocol announced its new beautiful logo as part of its rebrand. The new logo features elements of Bitcoin blocks in the shape of a triangle, representing the strength and security that Map Protocol stands for
Map Protocol also integrated with Tron this week to facilitate enhanced cross-chain interoperability on the Tron blockchain.
That’s everything for today! It’s been a monumental week for the BTCfi ecosystem, with Babylon launching and bringing yields to holders! Let’s celebrate this milestone together! 🔥🥳
As you can see, BTCfi’s growth never stops progressing! 📉
Join us again in two weeks for regular updates on the BTCfi sector ❤️