BTC ecology is one of the biggest narratives in this cycle. Due to the popularity of EigenLayer on the ETH chain, everyone has refocused their attention on the trillion-dollar BTC market. With the improvement of staking infrastructure such as #Babylon, the BTC re-staking track has seen the dawn.#Satlayeron BTC is similar to Eigenlayer on ETH, and is expected to start the#BTCFiflywheel and stimulate market vitality. SatLayer (@satlayer) is becoming a star in the track!
The value of 1.1 trillion US dollars is sleeping in the market. At present, the#BTCecological market TVL is only about 5.9 billion, accounting for only 0.49% of the total value of Bitcoin. The huge market potential has also led to the current flourishing of Bitcoin ecological projects, but this track is still There are some significant pain points:
â Security: It is difficult to transfer BTC across chains to a new layer and inherit Bitcoin security
⥠Income: Create stable and sustainable income for BTC holders
#SatLayer solves these problems!
Project Introduction
SatLayer (@satlayer) is a Bitcoin re-hypothecation platform based on Babylon, which allows staking#BTCto secure the Bitcoin Verification Service (BVS) through the Babylon protocol. Users can stake#BTCto secure BVS and earn revenue from Bitcoin's security model, including bridges, aggregations, data availability layers, and oracles. The platform not only provides a secure staking environment, but also simplifies staking operations, allowing users to easily participate in the DeFi market.
Core technology and architecture
Staking and re-staking: Users can stake their Bitcoin on the SatLayer platform and use the re-staking function to support other decentralized applications (dApps) and services to generate further income.
Multi-asset compatibility: SatLayer can support 6 types of BTC re-staking, including WBTC, FBTC, PumpBTC, LBTC, SolvBTC, UniBTC, etc., to improve the utilization rate of assets and can be deployed with one click.
Smart Contracts: The platform uses smart contracts to automate the staking and re-staking process, ensuring transparency and security of operations. All staking and re-staking transactions are recorded on the blockchain to prevent tampering.
Multi-signature wallet: Use multi-signature wallet technology to enhance the security of user assets and prevent single point failures and malicious attacks.
Core participants:
âą Re-stake users: Participants who re-stake $BTC wrapped assets to Satlayer.
âą Operators: Choose Bitcoin Validation Services (BSV) to provide security and receive re-collateralization rewards from it.
âą BVS: A PoS network or application that uses Bitcoin (BTC) as the power of cryptoeconomic security.
Sources of income:
âą Babylon Ecosystem: Satlayer supports Eigenlayer-level AVS, further extending Babylonâs functionality.
âą Satlayer BVS: By re-staking BTC into Satlayer, the BVS platform gains enhanced security and users gain additional re-staking benefits
âą Satlayer satAssets: Composability allows the use of satAssets in other BTCFi to generate additional returns.
âą Satlayer Early Bird Rewards: In progress, super rewards, limited time, đ description above.
âą Participate in the protocol to mint satAssets and receive future airdrops.
The second phase of Satlayer's early bird rewards has officially started, don't miss it!
The upper limit is 100 BTC, which is a one-fish-three-kill game.
Get the benefits of BabylonxSolv Protocox Satlayer through a single operation!
Currently supports re-staking of 6 currencies: WBTC, FBTC, PumpBTC, LBTC, SolvBTC, UniBTC, etc., and more will be supported in the future.
Specific steps for re-staking:
Take the current hot #SolvProtoco+#Satlayerstaking scheme as an example:
1. Withdraw WBTC from Binance or your preferred CEX, selecting WBTC and Ethereum network as the wallet of your choice.
2. Go to Solv Protocol (@SolvProtocol) and exchange WBTC for SolvBTC.
3. On the same page, exchange SolvBTC into the required SolvBTC.BBN.
4. Enter the Satlayer staking website:
5. Click SolvBTC.BBN to enter the SolvBTC.BBN re-pledge page.
6. Select the amount of SolvBTC.BBN you want to deposit and click Deposit.
7. Finally, you can see that the progress bar has been updated to "Completed". This means that SolvBTC.BBN has been successfully staked to SatLayer, and the specific earnings can be seen on the 'DASHBOARD' interface.
Specific tutorial links for other staking solutions for intermediaries:
1. Participate in Satlayer by staking LBTC via Lombard: blog.satlayer.xyz/guide-staking-âŠ
2. Participate in Satlayer by staking FBTC through Lgnition: blog.satlayer.xyz/guide-staking-âŠ
3. Participate in Satlayer by staking UniBTC: blog.satlayer.xyz/guide-stake-unâŠ
Investment institutions
SatLayer completes $8 million seed round of financing!
Investment institutions: Hack VC and Castle Island Ventures jointly led the investment. Franklin Templeton, OKX Ventures, Mirana Ventures, Amber Group, Big Brain Holdings, CMS Holdings and other well-known institutions participated in the investment.
Summarize
SatLayer is an innovative and promising re-staking protocol platform that fundamentally improves security by partnering with Babylon to implement#BTCVerification Service (BVS) to protect any type of dApp or protocol. At the same time, the simple UI design and powerful background provide users with efficient, safe and high-yield re-pledge services. Its unique technical architecture and market applications give it significant competitive advantages and development potential in the DeFi field, and it deserves special attention and anticipation!