$SUI
Sui announced a partnership with Babylon and Lombard aimed at providing users with the service to mint LBTC on the Sui chain. This collaboration will allow Bitcoin holders to stake BTC through Babylon's staking protocol and natively mint the liquid staking token LBTC of the Lombard protocol on Sui. LBTC will become a core asset in the Sui DeFi ecosystem, enabling lending, borrowing, and trading to leverage Bitcoin's $1.8 trillion liquidity.
Additionally, Sui's lending protocol NAVI has also expressed plans to collaborate with Lombard and support LBTC mining pools on its protocol. NAVI's CEO Elliscope Fang stated that this partnership will usher in a new revolutionary era for Sui and Bitcoin, and looks forward to collaborating with Babylon Labs, Lombard, and the Cubist team to bring the value of staked Bitcoin to Sui DeFi users.