According to BlockBeats, the Pell Network, the first Bitcoin ecosystem built on a re-pledging protocol, has seen its total value locked (TVL) exceed $170 million as of June 11. The network has been successfully deployed on BNB Chain, Bitlayer, Merlin Chain, and BounceBit, with over 16,000 users participating in the pledge.
In order to accelerate the completion of the entire active verification service (AVS) ecosystem, Pell has also partnered with Edgevana, a leading node operation service platform in the industry. This collaboration aims to further enhance the development and growth of the AVS ecosystem, providing a more robust and secure platform for its users.
The Pell Network's breakthrough marks a significant milestone in the Bitcoin ecosystem, demonstrating the potential and growth of re-pledging protocols. The partnership with Edgevana is expected to further strengthen the network's position in the industry, providing a more efficient and secure platform for its users.