CoinVoice has learned that according to Be In Crypto, BingX's innovative department BingX Labs has announced a strategic partnership with the Bitcoin staking protocol Babylon, investing $5.3 million into the Babylon project through its $100 million ecosystem fund. BingX Labs stated that its support for Babylon is a key step in unlocking higher security, accessibility, and innovation in the blockchain space.
According to the Web3 asset data platform RootData, Babylon is a layer1 blockchain founded by Stanford University Professor David Tse. The project's mission is to bring the unparalleled security of Bitcoin to all PoS blockchains without any additional energy costs. The team consists of researchers from Stanford University, experienced developers, and seasoned business advisors. [Original link]