According to Wu, on the day when the Babylon mainnet was launched, Cobo assisted customers in staking more than 742 BTC based on Babylon's BTC Staking API, accounting for more than 74% of the total staked amount.
On August 29, Cobo invited guests from Bedrock, Solv Protocol, Lerenzo Protocol and PumpBTC to review the situation from both technical and strategic aspects and discuss the strategy for the second phase of staking.
Shenyu said that protocols like Babylon are likely to become the largest TVL providers in the Bitcoin network. In the first phase, individuals invested dozens of BTC.
For ordinary holders, the best option is to put BTC into the pools of various LRT project parties, or exchange it for other ERC20 assets, such as FBTC, WBTC, etc., and then perform nesting operations.
